Tax cuts are no handout to the rich
Tax paid by high income earners will vastly outstrip their growth in wages unless the Senate passes the full tax cut package, a new analysis shows.
With Labor and the Senate crossbench declining to commit to the full tax package and rejecting the government's claims it has a mandate, the analysis shows the tax cuts do little more for high income earners than keep bracket creep at bay and preserve the proportion of tax they currently pay.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
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