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Tag: Disposable Income
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Bracket Creep in Australia
Australian taxpayers are to be slugged an extra $38.5 billion in tax hikes over the next 4 years without notice. While, the cumulative cost of bracket creep is forecast to be $50.9 billion by 2018-19. Bracket creep is when inflation pushes additional earned income into higher tax brackets. Legislative inaction…
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Measuring National Income
National income accounting attempts to measure gross domestic product (GDP). GDP being calculated annually can be considered by the quantity measured per unit of time (flow) where the quantity measured at date and time (stock) would be government debt as current outstanding debt. However, GDP can be overused as a…