Why Turnbull has to defend Negative Gearing

Crikey call it the ongoing war against young people (it is) and New Matilda identified the aspiring class of one years as winners in the current regime but despite these cogent ideas and well argued articles there remains one rather obvious response to Mr Turnbull’s hasty defence of the existing landed gentry.

Of course you need to realise that government is about governing the majority for the benefit of the few (the 1%). The magic is in not letting the cat out of the bag, hence the portrayal of struggling aspirants capitalists mixed with nuclear family values as virtuous examples of how well the system is working. Never mind analysis from unfriendly think tanks like the Grattan Institute which delivers a pretty bleak view for those who simply want a secure roof over their heads. No nothing to see here.

Hence armed with this realisation then the unspoken truth is that the existing massive tax breaks that favour the investing real estate barons of tomorrow who are the very people with the ear of Mr Turnbull and his bunch of crony neoliberals. How do we know this? Well if negative gearing wasn’t the biggest tax lurk under the Australian sun then Murdoch would be screaming blue murder. The lengths to which the entitled are going to convince the renter class that negative gearing is in THEIR interests is simply the only proof we need that it is in fact exactly the opposite.

But then as the late great Kerry used to say, it is the responsibility of the rich to minimise their tax burden to the full extent of the law (or words to that effect). And if successive sycophantic governments have made taxation for the rich completely optional well that’s just fine and dandy. I’m sure Kerry would agree.

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