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My Hashtag Dump [as part of my latest Instance-hop
]
LAST EDITED 8/12/24
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By the amazing Rachel Withers:
"This morning, a set of data – confirming what many implicitly understood – got people fuming online. It was a report by CommBank iQ, showing that while younger and poorer Australians are making drastic cuts to their personal budgets during this inflation crisis, older homeowners with savings are spending at a higher rate, having benefited from higher interest rates, and are therefore fuelling inflation further. We already knew rate rises were hitting generations unequally, but the stats are damning: over-65s increased their overall spending by 6 per cent across the year, above the rate of inflation, “splashing out” on cruises and package deals, while 25- to 29-year-olds, many of whom face escalating rental costs, cut back on spending, both essential and discretionary, to the tune of 5.1 per cent. It’s been obvious for some time now that the Stage 3 tax cuts need to be scrapped or amended. The Australia Institute’s Greg Jericho has done a phenomenal job of laying out how and why, offering the government an easy political sell. So how can Labor possibly go ahead with something that will put more money in the pockets of the “haves”, pumping inflation even higher, when it is the “have nots” who are already bearing the brunt of the rises in this shamefully unfair system?"
https://www.themonthly.com.au/the-politics/rachel-withers/2023/11/21/exit-stage-three
Implausible deniability. #auspol #springst #RachelWithers
https://www.themonthly.com.au/the-politics/rachel-withers/2022/11/21/implausible-deniability via @THEMONTHLY@twitter.com