How’s this for sneaky?
While you were enjoying Easter, Albo dropped this bombshell in the media, hoping no one would notice.
According to The Sydney Morning Herald:
More than 10 million middle-income Australians will face one of the largest tax increases in history after the May federal budget as households deal with rapid increases in interest rates and cost-of-living surges.
Yes, you read that correctly.
The bloke who was elected promising we’d be “better off” with him in the Lodge has unveiled one of the biggest tax hikes in history.
And he’s doing it right in the middle of a cost-of-living crisis, when Aussies are struggling with the triple threat of inflation, interest rates and wages that are going backwards as prices skyrocket.
This is how it works:
People earning under $126,000 a year take a hit of up to $1500 because Labor is axing the low and middle-income tax offset that started in 2018 as part of Malcolm Turnbull’s original three-stage overhaul of the personal income tax system.
That’s a kick right in the guts.
For Aussies affected, it’s a hit the equivalent of two extra interest rate rises.
“On top of higher interest rates and inflation, it’s really going to affect households. Retailers are also going to feel this, for sure,” independent economist Chris Richardson told reporters.
And here’s the kicker – if you work hard enough to earn $126,000 or more, then it doesn’t affect you at all.
But if you earn $125,999 or less, you’re up for more tax.
This is Labor at its finest, piling pain on top of pain.
Interest rates, rent, groceries, electricity, all getting more expensive, ratcheting up the pressure.
And now this, under the cover of long weekend darkness.
Meanwhile Albo – the original Artful Dodger – can’t stop talking about the divisive Voice.
Instead of doing what he promised – making you “better off” – he is distracting Australians with a debate on the enshrining racial division in the Constitution.
This tax hit on middle-income Australians is a sneaky move by Labor.
It's a classic case of Labor piling pain on top of pain, cranking up the financial pressures facing many households.
The Artful Dodger strikes again, and as per usual it’s everyday Aussies paying the price.
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