TURNBULL IN A MUDDLE AND OUT OF TOUCH ON TAX

 

The Prime Minister got in a muddle on ABC’s Insiders this morning not seeming to understand that his Government’s plan to hit low and middle-income earners with a Medicare Levy increase is a hike in personal tax.

 

While Malcolm Turnbull and Scott Morrison dangle income tax cuts rhetoric at every opportunity, their actions will actually see 7 million Australians worse off by $1.7 billion a year.

 

Malcolm Turnbull seemed surprised to even be asked to explain this massive contradiction: 

 

A Shorten Labor Government opposes this income tax hike for low and middle-income earners that currently sits before the Senate. Labor opposes it in the Parliament and if elected will not proceed with the income tax increase.

 

Meanwhile, Mr Turnbull doubled down on the Government’s deluded ‘sledgehammer’ rhetoric on Labor’s housing affordability policies.

 

Malcolm Turnbull still doesn’t get it on housing affordability, he never has.

 

It was revealed in January that the Commonwealth Treasury had advised the Turnbull Government at the time Labor announced its reforms to negative gearing and the capital gains tax discount that they would only have a modest impact on the housing market, but would see more first home buyers come into the market at the expense of property investors.

 

Despite having the facts presented to them by Treasury, Malcolm Turnbull and Scott Morrison chose the low road, mounting a weak and pathetic scare campaign that attempted to protect vested interested and protect tax concessions that overwhelmingly benefit high income earners.

 

The one thing you can say about Malcolm Turnbull on tax is that at least he’s been consistent: dolling out income tax cuts to high income earners, company tax cuts for big business, and protecting tax concessions for the wealthiest, while punishing low and middle-income earners with higher income tax.