• 0 Posts
  • 9 Comments
Joined 1 year ago
cake
Cake day: June 15th, 2023

help-circle




  • This article’s a week old. The relief has been announced in tax bracket adjustments that roll back the Stage 3 cuts that were essentially going to remove the third bracket (primarily benefiting those earning >$135,000)

    ABC story

    What are the new stage 3 tax cut brackets?

    Here’s how the proposed plan looks at a glance:

    Earn up to $18,200 – pay no tax

    Pay a 16 per cent tax rate on each dollar earned between $18,201-$45,000

    Pay a 30 per cent tax rate on each dollar earned between $45,001-$135,000

    Pay a 37 per cent tax rate on each dollar earned between $135,001 — $190,000

    Pay a 45 per cent tax rate on each dollar earned above $190,000

    What were they going to be?

    Here’s what the previous plan looked like at a glance:

    Earn up to $18,200 – pay no tax

    Pay a 19 per cent tax rate on each dollar earned between $18,201-$45,000

    Pay a 30 per cent tax rate on each dollar earned between $45,001-$200,000

    Pay a 45 per cent tax rate on each dollar earned above $200,000





  • Leaving the moral arguments aside, there were also massive campaign failures on the Yes side. No had two clear cheerleaders with an absurdly simple catchphrase: “If you don’t know, vote No”. Meanwhile Yes didn’t have a star for the campaign and had made the amendment way too simple/general so there weren’t any included details of the practicalities. So they ended up with 100 people having to re-explain their plans every campaign stop and occasionally tripping over each other’s messages. As a result, the complicated sell from Yes played right into No‘s hands.