Bill’s plan not what it seems

The Coalition don’t seem too interested in Shorten’s tax plan. Picture: Mick Tsikas / AAP

LABOR will go to the next election telling voters they should be comfortable with a government taking half the income of some of the nation’s most valuable workers.

It’s doubtful they will.

But that’s the tax equation outlined by Opposition Leader Bill Shorten which the Government is calling class warfare but which Labor says is about fairness and equity.

It is a fiscal and political punt that the eight million Australians earning under $180,000 will back an old fashioned target-the-rich tax regime. And that those under-$180,000 workers don’t want to earn above it, or think they ever will.

Effectively Labor is warning: If you work hard to earn $200,000 a year, we will leave only half of your extra effort rewarded — earnings over $180,000.

The worse prospect of this type of assault on the upper income brackets is for tax exiles and a skills drain as the tax structures of other countries

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