Well, the rich will have to work even smarter and harder.
- The baby bonus will be means tested. Those that earn over $150,000k will not get the bonus for having a baby. I guess that's fair, but do we have any spending analysis on what families below $150,000 use the baby bonus for? Is it to buy more baby goods or a new plasma screen TV or the latest $1500 pram? Would only the rich invest the money for their newborn baby, or am I just saying that the middle to lower class wouldn't do the same? Maybe the Government should not only means test by income, but reward families that save and secure their child's investment future, by part investing the bonus?
- Okay, Tax the rich fine. But, make it reasonable for employers who are part of the rich who work extremely hard to make an inch of profit, employ Australian's to only pay taxes that are for the benefit of economy, not a negative tax like the "Payroll Tax". This tax hits growing small to medium businesses who have to start paying a 4% tax of the total amount of salaries of $650,000 threshold. If the Government wishes to tighten the earning power of small to medium businesses who have families, they will be less likely to expand and employ more workers. The undercurrent of unemployment will be one to watch. Small to medium businesses are the biggest affected sector (millions and millions of them) of payroll tax (taxing for employing people to work) and the red tape of employment contracts and unfair dismissal laws. Don't disenchant this hard working sector.
- Environment - I am not sure if there was any increase in subsides for households that adopted power saving equipment in the home. The $4,000 subsidy still made it another $4,500 that you still had to pay if you want to add solar to your electricity grid. I think households should not have to pay $4,500, but more like $1,500 - $2,000. More affordable environmental solutions need to be provided for.
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