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Taxation and the Graduate Contribution

When I graduated (in 1981) I faced basic tax rates of 30% and a higher rate of 60%. People who graduate with the graduate contribution in place will face a tax rate of 20+9=29% and 40+9=49%. That is a lower marginal rate of taxation than I faced on graduation in 1981.

I think this is important because the case is often made that those people who benefited from tertiary education in the 1970s have been changing how the system works.

I made this point on the politics show today.

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