Australia’s actual tax rates are different to the official tax rates, and include two regressive steps that don’t need to exist. The 10% Medicare Levy bracket should be removed, and LITO should be replaced with a higher tax-free threshold.

Low-income earners are caught in the absurd situation where they pay tax while receiving welfare at the same time. The solution is to remove income tax from low-income workers by incrementally removing the 16% tax bracket, leading to a tax-free threshold of $50k.

The government gets one star for allowing the 2022/23 budget balance to improve to a cash surplus (small fiscal deficit), but this budget includes yet more tax and spending and a disappointing lack of serious reform, and the 2023/24 deficit was unnecessary and inappropriate.

The term “trickle down economics” is another example of the left using loaded language in order to poison the well against their opponents, and thereby avoid honest policy debates.

The UK has a new government, and one of their first steps has been to reverse some planned tax increases and make other tax cuts. Great news for British taxpayers and the broader UK economy, but it has sparked controversy as the usual crowd of big-government apologists condemn any policy that reduces the power of politicians.

Fundamentally, the issues of inflation and recession must be addressed with different types of policy. Inflation can only be addressed through more responsible macroeconomic policy, while sustainable economic prosperity can only be achieved through microeconomic reform that boosts productivity.

One of the defining features of the economy over the last year has been the decline in real wages. Nominal wages have increased by 2.6%, but consumer prices have increased by 6.1%. The sad reality is that many working Australians are getting poorer.

The government should make the current petrol tax rate permanent and abandon the tax increase. If they are unwilling to do that, they should at least delay the petrol tax increase until inflation is under control.

Ordinary Australians are struggling under the dual pressures of high inflation and rising interest rates. There’s no simple solution, though there are some commentators out there offering simplistic and dangerous suggestions that will make the problem worse.

There is no silver bullet when it comes to housing availability and affordability, but one part of the puzzle is to improve the incentives faced by local councils so that they get the benefits or costs associated with their planning and development policies.

While small business and ordinary people suffer under high inflation, the government is able to avoid most of the costs while secretly increasing taxes and avoiding responsibility for their irresponsible borrowing. They can’t be trusted.

Trying to navigate this absurd maze of rules, regulations, committees, commissions, councils, funds, targets, agreements, operators, and regulators is near-impossible for most people.

High income taxes punish people for being productive. This is both morally dubious and economically inefficient, as it encourages people to shift into less productive activity.

The market system is politically neutral and so it doesn’t guarantee any particular mix of technologies. This is good news for people who want cheap and reliable energy, but it’s bad news for energy bureaucrats who want to centrally plan our energy future.

The RBA should act decisively now to get cost of living pressures under control.