Half of budget savings come from low income earners

Another study has been done by ACOSS (Australian Council of Social Services) into just who pays how much in the budget if the gov got it's way. It's a very stark statistic that they come up with; that half of all the savings from the budget are paid for by low income earners who are already struggling. High earners pay only one sixth of the savings. Fuck, maybe the whole budget should be just chucked in the bin and started again:

The Australian Council of Social Service has released new analysis revealing that people on low and middle incomes will carry the overwhelming burden of repairing the federal Budget. 

"Our analysis brings home the harsh truth that the heavy focus on spending cuts will be socially harmful and cost our nation more in the long run," said ACOSS CEO Dr Cassandra Goldie. "The burden of restoring the Budget will not be fairly shared. 

Over the next four years, people and families living on low incomes will be expected to contribute over half the savings in the Budget (52%), compared with less than one sixth coming from people on high incomes. 

"More than $19 billion out of $37 billion (52%) in budget savings in key programs and services over the next four years will come from reductions in spending on programs that mainly assist low and middle income earners. Only $5.7 billion (15%) billion are tax increases or savings in programs mainly benefiting people on high incomes. 

"The people that will particularly be affected are those under 30 looking for work, people with disabilities, carers, single parents and struggling low income pensioners and families. The income losses sustained by many people relying income support and family payments are large and crippling. 

"Lowering indexation for pensions and freezing family payments for two years will affect families living on low incomes the most and increase poverty and inequality. A single parent on a low income with one child over 6 years stands to lose $50 a week from the changes to Family Tax Benefits alone. We estimate that over a decade, changes to indexation will mean that single people relying on most pensions will be $80 a week worse off. more