The Stage Three tax cuts only benefit the already wealthy and will increase inequality, let's call for these tax cuts to be abandoned, we can't afford it, Australia can't afford it.

The total cost of the stage three package will be $243.5bn – between 2024-25 and 2032-33,  in 2024-25, the year the changes are set to start, the top 1% of earners would get a $1.4bn tax cut.

By 2033, the top 20% of earners would get nearly $188bn of benefit, more than 77% of the total package.

The stage three tax cuts also mainly go to men. Men get 67% of the tax cuts while women get 33%

More specifically, those earning over $180,000 will get $117.6bn of the total money in the first 9 years – or 48.3% of the value of the tax cuts. That’s a pretty large amount to go to just 3.7% of all income earners.

In 2024-25, $12.7bn of the $17.7bn cost of the tax cuts will go to those earning above $120,000. That is almost the same amount expected to be spent on Jobseeker payments that year.

While $120,000 is nearly four times the poverty line, the current level of Jobseeker is almost $300 a week below it.

Information sourced from The Guardian