Stagnant wages, a higher tax burden, and labour market 'slack'. Was this the federal government's plan all along?

  • 📰 abcnews
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 83%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

ANALYSIS: Stagnant wages, a higher tax burden, and labour market 'slack'. Was this the federal government's plan all along?

Well, remember the phrase "budget repair" is actually a metaphor that's designed to frame the way you think about government finances.If something needs repairing it's obviously broken, and there might be someone who can fix it, and you should let that person fix it since it's broken.

In the graph below, have a look at what happened to tax receipts after 2007-08, the last year of the Howard Government. But notice how the tax take increased from 2014-15 to 2018-19, after the Coalition government started pursuing its plan of returning the budget to surplus come hell or high water. And the underemployment rate was sitting at 8.6 per cent, which translated into 1,178,000 underemployed people.

But over that period, the unemployment rate only managed to decline from 5.7 per cent to 5.6 per cent, while the underemployment rate increased from 7.4 per cent to 8.4 per cent.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They had a plan? 🤯

Of course its their plan. Subjugate the peasant masses, re-establish a feudal relationship between the entitled and source of their enrichment. Can't see Snotty as smart enough to think of this all by himself, maybe his mentor The Rodent, though?

Certainly would be deeply in the mire under Albanese and his Labour incompetent mob. We have the best of the pack not withstanding all Politicians are at best subjective.

Well let’s see. Defund the ABC that’s 1 billion. Cut state gov in half thats several billion. Get rid of councils that’s several billion. Then we can cut taxes even further and everyone gets a pay rise

'Cruelty: By design.' Should be the slogan attached to this federal govt

First recession in 30 years. That’s where the Liberal government was taking this nation, well before Covid 19 hit.

You would almost think the government was trying to create entrenched poverty and homelessness in Australia.

Actually, that's the point of “multiculturalism”. And that enjoys the support of both sides of Ponzi capitalism.

Plan? ScottMorrisonMP is Australia’s least strategic and slowest responding PM ever.

PM is adding insult to the stagnant wages by pampering bankers n retirees with neg gearing Capital gains discount n franking tax credit n tax free super Huge chunk of oldies enjoying tax shelters

Majority of Australians have turned into an cult, it has become more important for them to protect their PM than their own family. They are happy to pay high tax and stay on low wage as long as the leader of their stays in power.

Canada Canada Latest News, Canada Canada Headlines