How you'll be affected by the stage three tax cuts

For years now, we’ve been hearing about the so-called Stage 3 Tax Cuts. And not just hearing about them, but being warned about them. They’re going to increase the gap between the rich and the poor. Even take us back, economically speaking, to the 1950s. At other times, we’re told they’re great. After all, they’ll help workers earning as little as $45,000 a year to keep more of their pay packet.  So, which is it?  Today, economics correspondent Rachel Clun takes us through what this all means, and how it will hit us, once we open our wallets.Subscribe to The Age & SMH: https://subscribe.smh.com.au/See omnystudio.com/listener for privacy information.