HOW BAD IS LABOR? – The Liberals may disappoint and break one’s heart, but Labor appals. No matter how bad the Liberals will be, Labor will always out-tax, out-spend and out-debt them.
How bad is Labor today under Shorten? So bad that one of their former leaders has just joined the libertarian Liberal Democrats, while another has come out publicly to slam Labor’s tax policies:
Former Prime Minister Paul Keating has attacked Labor’s political and policy position on tax, saying its proposed top marginal rate of 49.5 per cent was “too punitive” and would result in the state “confiscating almost half of people’s income over $180,000”.
The former Labor prime minster and treasurer said the top rate of personal income tax should be 39 per cent “at the most”, and the government’s proposed rate of 47.5 per cent was also too high.
Keating is the last Labor leader with any reformist credentials. And his heyday was in the 1980s. I miss the old Labor Right.