Saturday, December 26, 2009

Rudd's Christmas gift: higher taxes

The Howard government was able to provide income tax cuts virtually every year after the budget went into surplus. Thanks Rudd's big government we will be getting tax increases instead:

ACROSS-THE-BOARD income tax cuts are off Labor's agenda as the Henry review looks instead to ease the burden on individual taxpayers by simplifying returns and reducing churn in the tax and family payment systems.

The compromise at the heart of the report now in the hands of Wayne Swan marks the first occasion that a major tax reform will not be accompanied by tax cuts for all.

The budget cannot afford them for at least six years.

Don't let anyone tell you leaving the tax  brackets unchanged isn't a tax increase either, bracket creep will mean we  will all end up paying more.

Questions to my Labor voting libertarian readers, missing Howard yet?

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