Stephen Mayne

Is she a good partner?

Do you regret giving her 50-50 in hope downs?

And, you know, she's now worth $30 billion, $40 billion, and she's doing better than you.

Is she now a competitor or a partner?

So I might have a bit of fun with Gina, I think.

Well, they certainly won't be giving back all of bracket creep, will they?

They'll be banking most of it and throwing a bone by the sounds of things.

Yeah, they'll be banking that.

I mean, I had a look back 10 years ago, the ScoMo budget of 15-16, $187 billion of income tax, or they call that tax from individuals, includes withholding tax, but it's primarily income tax,

$187 billion out of $362 billion.

So that's 51.6% of the total take.

And the MIEFO they released on December 22 last year is $358 billion out of $750 billion.

So 47.7%.

So the proportion of the pie...

has slightly reduced, but the income tax paid by Australians is up by 91.4% over the decade, when inflation is only 32.5% over the same 10-year period.

So you can see that people, pound for pound, they're paying...

a truckload more income you know it's gone from 187 to 358 billion up 91.4 percent in 10 years i mean income tax paid by australians should not be doubling every 10 years they're not giving it back with indexing or tax cuts and we're one of the highest most income tax reliant countries in the world and people are getting hurt yes craig says

I've read that the RBA hasn't hit its inflation target since 2021, and then oil took off.

If high oil prices become structural with the ongoing closure or tolling of the Strait of Hormuz, does that effectively lock in higher inflation?

And if so, does it still make sense for the RBA to target 2% to 3%?