Why is John Howard’s marginal taxation announcement being touted by the media as a ‘King Hit’?
A ‘king hit’ is defined as the biggest, best punch one fighter can throw against another. A guaranteed winner. I’d suggest that yesterday’s announcement was only to be expected given the government’s eagerness to have Labor spill their tax beans in recent weeks. I’d hardly call the announcement a one-time belt around the lug’ole from which Labor will never recover. It’s probably more appropriate to leading with a hefty left.
Yesterday’s announcement has been in the wings for some time, hopefully to be used as a counter…..maybe even a real ‘king hit’….. were Labor stupid enough to be suckered into playing on the government’s terms. As it stands, yesterday’s marginal tax announcement is little more than the glad-handing we see annually on Budget night. It’s a concept purpose designed to win votes and will require selling. Within a week, it would have faded considerably in the electoral memory.
We’ll see in coming days whether Labor can weave and jab back with their own taxation policy, but on day one of a 41 day campaign, I’d suggest it’s early to be shooting your bolt if that’s the best the government has to offer.