The Macro View – Health, Economics, and Politics and the Big Picture. What I Am Watching Here And Abroad.

October 20, 2022 Edition-----In the US we have just had the usual mass-shootings last week! Hard to know why the population put up with it. On a larger scale the war is seemingly just getting worse and more lethal. While there is assassination there must be hope!In the UK all eyes are on just when the Truss implosion will actually happen.In OZ the biggest news has been the really Biblical floods in SE Australia, The Budget is also getting close!-----Major Issues.-----https://www.afr.com/policy/tax-and-super/average-tax-rate-to-hit-record-high-this-decade-with-or-without-stage-three-cuts-20221008-p5bo78Average tax rate to hit record high this decade (with or without stage three cuts)John Kehoe Economics editorOct 9, 2022 – 12.54pmAverage tax rates for wage earners will reach record highs around the end of the decade even if the stage three tax cuts are retained, federal Treasury analysis shows.The tax impost will be even biggerif Labor decides to pare back stage three, which predominantly favours people earning more than $120,000 a year.Unless other taxes are increased in areas such as superannuation to fund further relief from bracket creep, the average personal income tax rate paid by workers will rise from about 23 per cent this year to almost 27 per cent over the next decade, under the current schedule for the stage one, two and three income tax cuts.Treasurer Jim Chalmers on Friday: “When it comes to cost-of-living relief it should be targeted to people on low and mid...
Source: Australian Health Information Technology - Category: Information Technology Authors: Source Type: blogs