{"id":7251,"date":"2020-07-10T01:11:13","date_gmt":"2020-07-10T01:11:13","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=7251"},"modified":"2020-07-10T01:11:13","modified_gmt":"2020-07-10T01:11:13","slug":"tax-cuts-for-the-rich-austerity-for-the-poor-pm-labor-embark-on-stupidest-possible-tax-policy-during-an-outbreak","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2020\/07\/10\/tax-cuts-for-the-rich-austerity-for-the-poor-pm-labor-embark-on-stupidest-possible-tax-policy-during-an-outbreak\/","title":{"rendered":"Tax cuts for the rich, austerity for the poor: PM &amp; Labor embark on stupidest possible tax policy during an outbreak"},"content":{"rendered":"<p>Australian Greens Leader, Adam Bandt, has described the Morrison Government\u2019s ideological determination to cut taxes for high income earners as ill-timed and irresponsible, and criticised Labor for backing the move.<br \/>\nThe tax cuts would increase inequality in Australia:<\/p>\n<ul>\n<li>The biggest beneficiaries of the proposed stage 2 tax cuts would be those earning over $120,000.<\/li>\n<li>These cuts would give high income earners, including those with incomes over $1,000,000, an extra $2,430 per year.<\/li>\n<li>Previous analysis from the The Australia Institute has shown that more than half (54%) of the Government\u2019s Stage 2 &amp; 3 income tax cut package flows to the top 20% of income earners<\/li>\n<\/ul>\n<p>&#8220;What good is a tax cut if you don\u2019t have a job?&#8221; Bandt said.<br \/>\n&#8220;Tax cuts mean less money in the public purse to invest in job-creating, nation-building projects, which is the pathway to recovery.<br \/>\n&#8220;Labor&#8217;s support for the Liberals&#8217; tax cuts will turbo-charge inequality and slow the economic recovery.&#8221;<br \/>\n\u201cThe biggest beneificiaries of this move are higher income earners. Millionaires will benefit more from these tax cuts than low-income earners.&#8221;<br \/>\n&#8220;A tax cut for the rich isn\u2019t going to re-open Melbourne restaurants, or resuscitate the arts sector. There\u2019s no basis for it, other than the usual Liberal\/Labor trickle-down ideology.<br \/>\n\u201cTax cuts won\u2019t do anything to help the hundreds of thousands of Australians who have lost their jobs due to the epidemic. To float billions in tax cuts as the government pulls vital supports like childcare and JobKeeper is reckless in the extreme.<br \/>\n&#8220;Instead of cutting taxes for millionaires, the Government should stimulate the economy through investment in green infrastructure, rebooting Australian manufacturing and expanding JobKeeper to cover casuals, temporary visa holders and the higher education sector.<br \/>\n\u201cIt\u2019s hard to believe, but even as 5 million Australians head back into lockdown, we\u2019re seeing the Coalition push for massive, expensive tax cuts for millionaires and Labor backing them to the hilt. The Greens will fight for services and investment instead of tax cuts,\u201d Bandt said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian Greens Leader, Adam Bandt, has described the Morrison Government\u2019s ideological determination to cut taxes for high income earners as ill-timed and irresponsible, and criticised Labor for backing the move. The tax cuts would increase inequality in Australia: The biggest beneficiaries of the proposed stage 2 tax cuts would be those earning over $120,000. These &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2020\/07\/10\/tax-cuts-for-the-rich-austerity-for-the-poor-pm-labor-embark-on-stupidest-possible-tax-policy-during-an-outbreak\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tax cuts for the rich, austerity for the poor: PM &amp; Labor embark on stupidest possible tax policy during an outbreak&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7251","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=7251"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7251\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=7251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=7251"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=7251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}