Increase in Cost of Living:
... means bracket creep is worse in chewing up people\'s wealth and economic liberty. There definately has to be a reduction of the tax burden on pretty much everyone. Howard\'s method is to increase taxes through nefarious means and then give it back in the way he wants as middle-class welfare. Usually as electoral bribes that fit his mythologized perception of Australia\'s golden path. [shh mr strawman]
There is going to have to be tax relief, and the folks that are taking it hardest are those in the lower levels of the two brackets that pay 90% of the tax. It is an inequitable system at the moment that is designed to make people dependant on the government.
I think I will email the tax department and try and get a breakdown of the incomes above 87,000. A better idea of how the higher incomes stretch out is needed. Like you said, $67,000 is not wealthy. The escalating cost of living and home ownership means aussie battlers occupy all brackets in the current tax system.
Their is a bill floating around Congress where they want to change the system entirely to a consumption tax. The poor who will get hit disproportionately by that, will get \"rebates\" back from the government. Those rebates will come with strings attached. Bad idea. With the current US style of conservatism the rebates will probably be provided as long as the working poor go to church, have babies and dont drive cadillacs.
I dont like that idea.
cam
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