Labor's higher taxes

The previous Labor Government introduced the world’s biggest carbon tax, a disastrous mining tax and tried to introduce a fringe benefits tax on salary packaged or employer-provided cars.

At the last election, the Labor team, including Mr Albanese, argued for higher taxes – on retirees, housing, incomes, investments, family businesses, superannuation and more.

In 2019, Mr Albanese argued against income tax relief, arguing the Government’s legislated plan (which, by 2024, will mean 95% of taxpayers pay no more than 30 cents in the dollar), describing them as “unfair tax cuts” for “the top end of town”. (Source: Media Release, 16/4/2019)

However, he ended up backflipping: "Anthony Albanese said… the Shadow Cabinet had decided it would not stand in the way of relief for 'working Australians'." (Source: The Guardian, 4/7/19)

As Assistant Secretary of the ALP, Mr Albanese led a motion at Labor’s National Conference calling for the introduction of an inheritance tax (death duties).

An inheritance tax was also reaffirmed as the policy of Labor affiliated unions at the 2021 ACTU Congress, and is the policy of the Greens, who want a power sharing agreement with Labor.

As a Shadow Minister, Mr Albanese has also called for a wealth tax.

Labor would have spent an additional $81 billion during the pandemic – including $300 cash incentives for Australians that were already double-vaxxed, free rapid antigen tests, an expansion and extension of JobKeeper and higher supplement payments.

This would have added a further 10% to Australia’s debt.

Labor have made $302 billion of vague promises but they refuse to say how they would pay for them.

Labor can’t manage money, so they end up coming after yours.