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We Need A Increase In The Minimum Wage (Read 1454 times)
whiteknight
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We Need A Increase In The Minimum Wage
May 18th, 2024 at 1:30pm
 
Bosses say budget assistance justifies smaller minimum wage increase   Sad

Financial Review
May 17, 2024

Employers have called for wage restraint this year, pointing out that the assistance on power bills and rents outlined in this week’s budget will help workers cope with cost-of-living pressures.

The Australian Industry Group told the annual wage review on Friday that the government’s latest cost-of-living measures reinforced its claim that minimum-wage workers should get an increase of no more than 2.8 per cent this July 1.   Sad

The peak body estimates the power bill and rental measures will have a similar value to lower-income households as the re-profiled stage three tax cuts, which it says equate to an $809 a year increase in pre-tax income for the median award employee.


Australian Industry Group chief executive Innes Willox quoted former union chief Bill Kelty in support of his position.

“These measures ensure a real increase in the disposable income of employees on minimum and award wages,” chief executive Innes Willox said.

“The need to take budget support measures into account in reviewing wages has been supported by former ACTU secretary and former RBA board member, Bill Kelty, who is reported as saying this week: ‘If you’re giving energy relief and rent relief then the minimum wage is likely to be lower’.”


The comment was reported by The Australian in the context of the likelihood of the budget measures reducing the Consumer Price Index.

Mr Kelty told AFR Weekend that the budget had “a good set of policies for the minimum wage, [better] than it was last year” where he said increased taxes left workers with less, despite a record 5.75 per cent pay increase.

“It’s got an income tax cut for cost of living, targeted relief for rent and a very specific proposal to help with energy – it’s a much better framework to fix up the real wages of low-income people,” he said.

But the Australian Council of Trade Unions, which is pushing for a 5 per cent increase, rejected AiGroup’s position as an “insult” to low-paid workers.

“Energy bill relief and increases to rent assistance in the budget are welcome relief for workers doing it tough, and many small businesses will also benefit from the energy relief,” president Michele O’Neil said.

“For the big business lobby groups to jump on this cost-of-living measure to argue for lower wages is an insult.

“Their argument is that the budget cost-of-living relief should go into the pockets of business, not our lowest-paid workers.”

She highlighted that not all workers on the minimum wage would receive the relief. The government has recommended that the minimum wage “not go backwards” and has opposed an increase below inflation, which was 3.6 per cent in the March quarter.

AiGroup’s post-budget submission also pointed to recent jobs and wages data that showed slowing private sector pay rises and a weakening labour market to back its position for a smaller increase.

Treasury and the RBA were forecasting real GDP growth to slow to the middle of 2024 and not return to its pre-pandemic average by the end of the forward forecasts, it said.

“In line with these deteriorating economic circumstances, it remains critical for the panel to adopt a cautious approach to adjusting wages,” the submission said.

Ms O’Neil argued a 5 per cent pay rise was urgently needed to tackle cost-of-living pressures, and that “businesses can easily afford this, as profits are well above pre-pandemic levels”.

AiGroup also rebuked the ACTU’s use of Labor’s new gender equity objective for the Fair Work Commission to push for a 9 per cent minimum wage increase for female-dominated awards.

Not-for-profits, such as in disability or early education sectors, “will be entirely unable to meet the kind of wage increases called for, or recover the higher costs from either current government funding arrangements or the often vulnerable people they assist”, the submission said.

The wage panel will hold consultation hearings about this year’s increase on Wednesday.
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Grappler Truth Teller Feller
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Re: We Need A Increase In The Minimum Wage
Reply #1 - May 18th, 2024 at 1:58pm
 
We need a massive crackdown on costs of living and working for the majority....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: We Need A Increase In The Minimum Wage
Reply #2 - May 18th, 2024 at 2:28pm
 
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....


Any ideas?
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Frank
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Re: We Need A Increase In The Minimum Wage
Reply #3 - May 18th, 2024 at 2:37pm
 


One million workers to be captured by top tax bracket in 2024-25

The number of taxpayers in the highest income bracket has almost doubled in five years, despite the top threshold being lifted by $10,000 next year, leaving the wealthiest Australian workers paying a much greater share of tax than before the three-stage ­reforms began.


About one million people will pay the top tax rate of 45c in 2024-25, with the share of workers in this bracket rising from 4.4 per cent in 2019-20 to 7.4 per cent.

The analysis from Ben Phillips at the ANU’s Centre for Social Research and Methods shows greater numbers of Australians being forced into the highest tax bracket even though the top marginal rate will kick in at $190,000 instead of $180,000 under the July 1 changes.

These workers will contribute 36.9 per cent in 2024-25 – a marked increase on the 31.6 per cent they contributed in 2019-20.

Professor Phillips told The Weekend Australian: “It’s quite clear that in spite of the tax cuts in July, the share of tax paid by high-income earners remains very high and a highly progressive tax system remains in place.”

With tax from individuals forecast to be 46.7 per cent of all government receipts – rising to 49 per cent in 2027-28 – the one million workers in the top tax bracket will contribute $1 out of every $6 that goes into government coffers next year. All taxes and non-tax receipts are forecast to total $698.4bn.

Jim Chalmers this week championed the revamped stage three income tax cuts as Labor’s key cost-of-living measure in the budget, declaring the average benefit was $1888 a year – or $36 a week.

But experts warned Australia had an over-reliance on taxing personal incomes. The general manager of technical policy at the Institute of Public Accountants, Tony Greco, said this problem would be compounded by the ageing population and took aim at the budget for failing to address the structural problem in the system.

“The number of people working as a proportion of those who have retired shrinks. So, not only are we taxing this source disproportionately, but it’s going to shrink,” Mr Greco said.

He said the top marginal tax rate of 47 per cent, including the Medicare levy, was an internationally high rate that kicked in at a “relatively low $190,000”.

“I think the answer is it won’t help with productivity or for aspiring people to work the extra hour,” he said. “I think that’s the issue. It starts to bite productivity and that’s one of the reasons productivity is lagging … it’s not a healthy statistic.”
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Frank
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Re: We Need A Increase In The Minimum Wage
Reply #4 - May 18th, 2024 at 2:42pm
 
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....



Sack Bowen, ditch the net zero lunacy, cut immigration by trolley pushers, uber drivers and food delivery "students", cut government spending and income tax for workers,  scrap all exemptions from the GST.

For starters.
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aquascoot
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Re: We Need A Increase In The Minimum Wage
Reply #5 - May 18th, 2024 at 5:53pm
 
Frank wrote on May 18th, 2024 at 2:42pm:
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....



Sack Bowen, ditch the net zero lunacy, cut immigration by trolley pushers, uber drivers and food delivery "students", cut government spending and income tax for workers,  scrap all exemptions from the GST.

For starters.



well said frank  Smiley
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Re: We Need A Increase In The Minimum Wage
Reply #6 - May 18th, 2024 at 6:40pm
 
thegreatdivide wrote on May 18th, 2024 at 2:28pm:
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....


Any ideas?


Refuted months ago.....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: We Need A Increase In The Minimum Wage
Reply #7 - May 18th, 2024 at 6:51pm
 
Frank wrote on May 18th, 2024 at 2:37pm:
One million workers to be captured by top tax bracket in 2024-25

The number of taxpayers in the highest income bracket has almost doubled in five years, despite the top threshold being lifted by $10,000 next year, leaving the wealthiest Australian workers paying a much greater share of tax than before the three-stage ­reforms began.


About one million people will pay the top tax rate of 45c in 2024-25, with the share of workers in this bracket rising from 4.4 per cent in 2019-20 to 7.4 per cent.

The analysis from Ben Phillips at the ANU’s Centre for Social Research and Methods shows greater numbers of Australians being forced into the highest tax bracket even though the top marginal rate will kick in at $190,000 instead of $180,000 under the July 1 changes.

These workers will contribute 36.9 per cent in 2024-25 – a marked increase on the 31.6 per cent they contributed in 2019-20.

Professor Phillips told The Weekend Australian: “It’s quite clear that in spite of the tax cuts in July, the share of tax paid by high-income earners remains very high and a highly progressive tax system remains in place.”

With tax from individuals forecast to be 46.7 per cent of all government receipts – rising to 49 per cent in 2027-28 – the one million workers in the top tax bracket will contribute $1 out of every $6 that goes into government coffers next year. All taxes and non-tax receipts are forecast to total $698.4bn.

Jim Chalmers this week championed the revamped stage three income tax cuts as Labor’s key cost-of-living measure in the budget, declaring the average benefit was $1888 a year – or $36 a week.

But experts warned Australia had an over-reliance on taxing personal incomes. The general manager of technical policy at the Institute of Public Accountants, Tony Greco, said this problem would be compounded by the ageing population and took aim at the budget for failing to address the structural problem in the system.

“The number of people working as a proportion of those who have retired shrinks. So, not only are we taxing this source disproportionately, but it’s going to shrink,” Mr Greco said.

He said the top marginal tax rate of 47 per cent, including the Medicare levy, was an internationally high rate that kicked in at a “relatively low $190,000”.

“I think the answer is it won’t help with productivity or for aspiring people to work the extra hour,” he said. “I think that’s the issue. It starts to bite productivity and that’s one of the reasons productivity is lagging … it’s not a healthy statistic.”


Easy to fix bracket creep - index it like a pollie's retirement rort.... no problem ... they make such a big deal of this for political purposes - just one more way of distracting and dividing the conquered... keeping them off balance.  Never give peasants time to think....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Frank
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Re: We Need A Increase In The Minimum Wage
Reply #8 - May 18th, 2024 at 6:54pm
 
Grappler Truth Teller Feller wrote on May 18th, 2024 at 6:40pm:
thegreatdivide wrote on May 18th, 2024 at 2:28pm:
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....


Any ideas?


Refuted months ago.....

Cheesy Cheesy
Months ago AND above....
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Gordon
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Re: We Need A Increase In The Minimum Wage
Reply #9 - May 18th, 2024 at 6:58pm
 
What's the minimum per hour rate?
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IBI
 
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whiteknight
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Re: We Need A Increase In The Minimum Wage
Reply #10 - May 19th, 2024 at 10:11am
 
All Australian workers are entitled to a minimum wage. This is the least you can be paid for doing a certain job.   Huh

It’s illegal for an employer to pay you less than the minimum wage.

As of 1 July 2023, the national minimum wage is $23.23 an hour or $882.74 a week (if you work 38 hours).

The only employees who can be paid less are:

workers aged under 21;
workers on the Supported Wage System, and
apprentices and trainees.
Otherwise, the national minimum wage is what it says on the box: the lowest rate you can be paid, no matter what your job.
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whiteknight
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Re: We Need A Increase In The Minimum Wage
Reply #11 - May 19th, 2024 at 10:17am
 
ACTU calls for 5% increase to minimum wages   Smiley
Media Release - March 25, 2024 ACTU.
The ACTU announced it will seek a 5% increase in Australia’s minimum and award wages as part of its submission to the Annual Wage Review.

Each year, the Fair Work Commission hears from unions, employers and Governments before setting minimum and award wages for about 2.9 million, or one in four workers, which comes into effect on 1 July 2024.

Workers on awards are about $5,200 worse off after inflation has eaten away at their pay rises over the past three years, despite recent positive increases in award wages. The ACTU claim would help workers meet current prices rises and make up for the lost income over this period.

The ACTU submission argues that business can afford this fair and sensible increase, especially as levels of profits are well above pre-pandemic levels.

The claim would also have no negative impact on inflation, partly because the wages and hours of some of Australia’s lowest paid workers are modest. Indeed, last year was the biggest increase to the minimum wage in over 40 years, and inflation dropped by 3.7%.

The increase would especially benefit women and part time workers, as 3 in 5 award workers are women and 2 in 3 are part time.

A 5% wage increase would lift the minimum hourly rate to $24.39 and the minimum annual full-time rate by $2,295 to take it to $48,200.

Quotes attributable to ACTU Secretary Sally McManus:

“The lowest paid workers are the ones who are the hardest hit by inflation, they need a 5% pay increase to start to get ahead again and make up for the real wage losses over the last few years.

“When inflation goes up businesses are able to adjust their prices to protect their margins, but workers pay does not move so easily. This is why the annual wage review is so important, it is when the lowest paid workers have to chance to catch up, the result makes an enormous difference to millions of families.

“A 5% pay increase is fair and reasonable. For some perspective, the CBA posted a $10 billion in profit last financial year. It could pay for the entire union wage claim for 2.9 million workers of 5% and still be one of the most profitable businesses in the country.”
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Captain Nemo
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Re: We Need A Increase In The Minimum Wage
Reply #12 - May 19th, 2024 at 10:32am
 
Good ol' ACTU ... they love to fuel inflation.  Roll Eyes
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whiteknight
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Re: We Need A Increase In The Minimum Wage
Reply #13 - May 20th, 2024 at 5:48pm
 
This is why we need an increase in the minimum wage.  So people can catch up to inflation.   Sad
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Re: We Need A Increase In The Minimum Wage
Reply #14 - May 20th, 2024 at 6:19pm
 
aquascoot wrote on May 18th, 2024 at 5:53pm:
Frank wrote on May 18th, 2024 at 2:42pm:
Grappler Truth Teller Feller wrote on May 18th, 2024 at 1:58pm:
We need a massive crackdown on costs of living and working for the majority....



Sack Bowen, ditch the net zero lunacy, cut immigration by trolley pushers, uber drivers and food delivery "students", cut government spending and income tax for workers,  scrap all exemptions from the GST.

For starters.


well said frank  Smiley


Nah, you are all low tax, personal responsibility losers.

The happiest peple in  the world live under high-tax regimes.

https://www.financialexpress.com/policy/economy-those-who-pay-higher-tax-are-hap...

World Happiness Report 2018: Those who pay higher tax are happier! Don’t believe us, here’s the proof

Eminent social-scientist Benjamin Radcliff has drawn a parallel between happiness and tax rates, saying that “higher levels of taxation suggest higher levels of satisfaction with life”, and hence more happiness. And there are other social scientists too who contend the same.16 Mar 2018

Meanwhile, heterodox economists are offering a zero tax  (which you crave for),  zero interest rate, zero inflation, full employment economy, but you need to do your own research on that topic.
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