Anthony Albanese Has Rejected Calls To Scrap The Tax Cuts That Mostly Benefit Rich Men
He continues to blame things on decisions made under the former government.
Prime Minister Anthony Albanese has confirmed that stage three tax cuts will go ahead, despite calls to scrap them, but continues to dodge accountability for the decision to do so.
Labor has faced calls to scrap the cuts — due to be implemented in July 2024 — to save $243 billion over the next 10 years, with at least nine out of 18 crossbenchers in favour of scrapping, or at least delaying the cuts.
Independent Senator David Pocock stressing that “giving high-income earners a tax cut should not currently be at the top of the list” of priorities for the government.
For context, the tax cuts mean everyone earning between $40,000 and $200,000 will pay a flat tax rate of 30 cents per dollar earned.
According to The Australia Institute, this works out to be a tax cut of $9,075 per year for a politician on a base salary of $211,250, while a nurse earning $72,235 will save $681.
If you’re wondering who, specifically, stands to benefit from the stage three tax cut — two thirds of the savings will go to men earning over $180,000 according to a parliamentary budget office estimate commissioned by the Greens.
But even though the cuts will largely benefit men earning more than $180,000 per year and obliterate the current system in favour of an option that means you’ll pay the same rate whether you earn $40,000 or $200,000; Albanese has no plans to reconsider.
In an interview with ABC‘s Radio National on Monday, the Prime Minister stressed that the cuts are “a decision made under the former government.”
“You make a choice about what you do, your initiatives and the initiatives we are making are positive ones that will make a difference to people, including our childcare policy,” said Albanese.
But while it’s true that the tax cuts were first introduced by the Morrison government, it’s worth noting that this only happened with Labor’s support — albeit reluctant. Not to mention, Labor now holds government and has the power to scrap policies it doesn’t like, as governments have done many times before.
But instead of owning the decision not to scrap the cuts, Albanese has again dodged responsibility — as he has done multiple times since taking the country’s top job.