@Abraham said in Politics Super Thread - keep it all in here:
@Yossarian It was definitely aimed at self funded retirees. There was a Parliamentary Inquiry into the effects on Pensioners, and the outcome was scary reading. Dont take my word for it, have a read for yourself.
I just can’t believe people think its okay to strip people of a lifetime’s worth of savings and hardwork at the drop of a hat? That’s what places like China do, not supposedly advanced societies like Australia. We aren’t talking about funding people’s trips to Paris , we are talking about elderly Australian’s who rely on this system to put food on the table each day.
Finally, two things can be true at once. You can use tax dollars to help the sick and the needy, while also not destroying people’s lives with radical changes to tax laws.
Maybe franking credits could have been retained for those at the lower income levels then. I mean I don’t support complete reversal of negative gearing either, certainly the grandfathering of it for any properties currently owned. You reverse negative gearing overnight, mum and dad investors will be exposed which could cause a fire sale on the property market and anyone who owns a property will suffer (except those buying in.)
