Instead of spending billions on tax cuts for the rich, an Australian senator for the Greens has suggested that the government cancel student debts.
On Sunday, the party’s vice leader Mehreen Faruqi, who previously faced criticism for a ‘disgusting’ tweet about the Queen and imperialism, said that Australians were having difficulty keeping up with the’skyrocketing’ cost of living and housing.
Senator Faruqi declared: “It’s time to provide them relief by cancelling educational debt.”
The third stage of a tax plan put out by the previous Coalition government, the tax cuts, are scheduled to take effect in 2024 and, according to opponents, may cost up to $243 billion while mostly benefiting the rich.
As part of his election campaign, Prime Minister Anthony Albanese promised to maintain the tax cuts in place.
With the third stage of tax reduction, employees who earn between $40,000 and $200,000 would pay a flat tax rate of 30 cents on every dollar earned.
Senator Faruqi’s remarks are a part of a Greens campaign to utilize the funds to pay off the debts owed by more than 2.9 million Australians through the HECS and HELP programs at a supposedly cheaper cost of $60.7 billion over the next ten years.
The tax cuts, according to Ms. Faruqi, “would further entrench inequality” and “student loan cancellation is necessary to close the inequality gap.”
Many current MPs, including the Prime Minister, attended college when it was free, but today’s students are burdened with tens of thousands of dollars in debt from their education, which sometimes takes decades to repay.
Millions of individuals would benefit greatly from the elimination of all student debt because they will be able to afford to live better lives.
The tax cuts will benefit higher income earners and, due to the gender pay difference, males, according to a study by the Parliamentary Budget Office, the Green Party claims.
According to projections by the left-leaning think tank Australia Institute, a worker making $72,235 would get a tax advantage of $681, while a person earning $200,000 would receive a $9,000 tax windfall.
For her remarks made after the demise of the Queen earlier this month, Senator Faruqi received criticism.
To those who knew the Queen, my condolences. I am unable to mourn the head of a racist empire that was created with the riches, land, and lives of colonized peoples stolen, the senator said in a tweet.
We are reminded of the pressing need for a treaty with the First Nations, justice and compensation for the former British colonies, and establishing a republic.
One Nation leader Pauline Hanson launched a racially charged assault on Ms. Faruqi after the tweet received hundreds of conflicting replies, asking her to “p*** off back to Pakistan.”
Senator Faruqi has hinted that she would file a complaint about the assault with the Australian Human Rights Commission.