That chart only tells half a story, and would be more edifying if it also included taxes paid by each decile.
Angus Taylor is already calling it a "tax on aspiration" instead of what it really is: an unfair advantage available to property investors but not owner occupiers.
And their inheritors. I mean, there are a lot of younger people who will inherit sufficient wealth (or who already have access to it) from their forebears.
I was discussing this with a friend the other day. We both stand to inherit substantial assets when our parents die, and we are both in favour of estate taxes / death duties. Neither of us have done anything to deserve inherited wealth. We didn't work for it. It is plain good fortune to have parents who own real estate.
It won't be.
Same. I have a flat that I live in, largely due to an inheritance. I'm looking at upgrading, but that's going to rely on money from another inheritance unless something even more dramatic happens to real estate prices.
I just... cannot even.
Especially if the insane inflation of house prices begins to slow in the next couple of years. And more young people (basically anyone under 50 in this context) buy their first homes/upgrade their family homes.
Solar & wind are cheaper. So, how does that work? Fight that good fight against the dying of the coal.
This comment stuck with me because it was also something that I had thought about. Keeping the negative gearing loophole for existing arrangements seems to be a way of keeping the established gains and stopping everyone else from making use of them. I also thought that a phase-out of the existing arrangements over a period of time (10 years was also the number I came to) seemed to be an appealing idea.
Unsurprisingly, Taylor has pulled out his dog-whistle and is calling this "a tax on small business". Coincidentally, he has listed four trusts on the parliamentary register of interests.
Even TRYING to fix it over night would be a terrible idea. It would disrupt the housing market to much, and then you get the current Chinese housing market. A basket case with no fix possible.
I recommend the Sydney Morning Herald backgrounder on what sparked that. It's got deep analysis of how this has been a trend forever, but also the nitty-gritty, such as the way the ABC didn't extend the unwritten rule that holds for every other party: high-level conversations are off the record until word is given otherwise. I strongly suspect ON is correct in thinking the ABC is hostile and while that is totally understandable, it does not help.
Holy unhinged paranoia, Batman. Reporting back? Like foreign agents in the bush, reporting back to the depravity of
One Nation are not a democratic party. They don't display democratic tenets, they don't accept democratic values, they do not feel bound by democratic conventions. They are fascists, and it's showing more and more.
Since when was that an unwritten rule? Things like "off the record" are purely based on trust between the journalist and the source. And if there's information there that needs to be made public, regardless of whether "word is given otherwise", it doesn't matter whether it's a fringe member of One Nation or the Prime Minister.
Given the topic of the article, he's strongly implying this arrangement has been SOP for the ABC up until the fight with ON.
The article also implies that this SOP, if there was such a thing did not apply in this particular scenario. The journalist in question did not have an ongoing relationship with the source, but made a one-off call specifically to get a quote/comment on a scoop they intended to release. Literally the next para after the one you quoted says (emphases mine):
If the question was about One Nation, they, like most parties based on racism, actually welcome anyone from the minorities so long a sthey willingly punch down with them. Nothing so valuable as a token <insert otherness category here> with which to protest "see, we can't be anti-otherness because we have this token person of that otherness.."
And ultimately any member of a minority will never be anything other than a useful idiot for a party like One Nation. They will never be equals, and the party will never deviate from its base racism.
