Over The Hill wrote:Not everyone who will benefit from the stage 3 tax cuts would be considered as "wealthy" by my standard including myself. I work hard for my income and it grates me to give 1/3 annual income in tax and yet not be eligible for 99% of any government benefits. I don't mind contributing to the tax man in principal as after all the money has to come from somewhere but I think its a bit rich (or poor) of the vast majority who have already benefited from stage 1 & 2 tax cuts over the past few years to be complaining about the rest finally getting some tax relief. Personally i still think the tax bracket system stinks as it heavily penalises those who generate higher incomes. If you think these cuts are unfair then surely a flat tax rate applied to everyone would be be fairer way to go. Anyway Labour made pre-election promises to uphold the changes initiated by the coalition government so its not new policy. The majority of the so called "wealthy" most likely already have means of avoiding paying their fair share to tax so in my opinion its the lower end of what is classed as "High Income Workers" that will benefit most. These are people that will put that extra money straight back though spending which benefits the wider community. There is a media campaign that is implying that everyone eligible for these tax cuts are super rich and living in luxury. I can assure you that that is not the case and am looking forward to having a bit more disposable income next year once the tax rates are adjusted. My local gun store will be one of the first to benefit, especially if he has stock of ammo and reloading supplies.
Everyone's circumstances and perspective are different of course, I can only express mine and im sure plenty of people will disagree with me and voice their opinion but that's one of the benefits of living in a democracy, everyone can have their say and not everyone has to agree.
It's all relative OTH, you may not consider yourself wealthy, but to someone who is faced with the choice of buying their medicines or feeding their kids you are.
These cuts kick in for those earning above $60K, with the majority going to those earning more than $180K or ~$3500/ week.
Believe me, to people forced through no fault of their own to rely on welfare assistance, someone taking home that sort of money lives in a totally different reality.
Your statement that these cuts will allow you to spend more on your hobby is a fitting example.
Nothing at all wrong with doing that, but for those on the bottom, just feeding their children or keeping a roof over their heads leaves no room for toys.
The way the cuts are structured, the more one earns the more one will get.
Someone on $60K will get a tax cut of $375/year, but someone earning $200K will get over $9000 extra.
If the Low and Middle Income Tax Offset is not extended it will end this financial year and will mean 90% of taxpayers will be paying more tax.
Even after the stage 3 tax cuts come in, 80% of all taxpayers will still be worse off.
The LMITO goes to middle income earners with a maximum rate of $1,080. If the LMITO is not extended in the budget later this month occupations like teachers, nurses and midwives will be paying $1080 more in tax.
It's simply human nature that the recipients of this largesse will feel they deserve it, but it just widens and further entrenches the gulf between haves and have nots.
Leaving aside how it could help lift millions out of poverty, our national infrastructure is in a parlous state, and $243 billion could solve a lot of problems in that area alone.
Please don't get me wrong, I don't begrudge those receiving this huge bounty, it just seems, from the point of view of a disability pensioner, that it would be far fairer used elsewhere.
While writing this, I heard on the news that the government is also cutting $50 billion from the NDIS on which so many rely for a semblance of life.
I'm afraid I see nothing remotely fair in all this.