Furious Friday

B!tching about the budget: What does it mean to your back pocket, Santa Claus, wage growth and the cocaine economy

Welcome to …Furious Friday!

Today’s episode is a special edition covering off on B!tching about the budget

Why are people complaining? Well, I actually don’t know….

The media kept harping on about ScoMo being Santa – The jolly guy who gives free things away in concept – but it isn’t free, someone is paying for it (the parents). And isn’t Santa a fictional fantasy we tell kids to behave? Sounds a lot like the Government…except you are the children in their eyes!

Instead, this budget is letting people keep more of their own money, rather than taking it to give away.

In this episode we will cover off on a few important topics:

  1. Lower taxes for all…who pay tax anyway
  2. Why people having more of their own money is better than the government having it
  3. We will join out friends in the bar again and look at their savings when drinks get cheaper.
  4. What the cuts will be from next financial year:

 

Income

Tax % of income Reduction ($)

Reduction (%)

$30,000

$2,197 7% $200

9%

$50,000 $8,017 16% $530

7%

$90,000 $22,067 25% $665

3%

 

  1. Why are tax cuts important? And who benefits?
  2. What some are saying? And why do people oppose it?
  3. The flow on effects, comparing the ‘Cashed up coke economy’ of Florida in the 80’s.

Then to finish it off, the big announcement that from now on, Friday’s will have their own special episodes of: Furious Fridays!

Psst…Today we talked about The Laffer Curve…if you’re keen to know more, Investopedia knows what’s up

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