Nation Starting To Think Maybe Murdoch And Liberals Were Lying About Negative Gearing Being Good For Us
https://www.betootaadvocate.com/breaking-news/nation-starting-to-think-maybe-murdoch-and-liberals-were-lying-about-negative-gearing-being-good-for-us/
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>As the housing crisis intensifies to the point where even the kids of the media and political class are starting to struggle, the nation is starting to come to the conclusion that maybe we have fucked up as a country.
>With tax discounts for property investors costing the Australian budget just under $39 billion in forgone tax revenue this financial year, and countless Aussies being pushed into housing insecurity – it’s been confirmed that maybe, just maybe, billionaire media mogul Rupert Murdoch might have been lying about what was best for the country at the 2019 election.
>With Negative Gearing and Capital Gains Tax concessions on the chopping block, News Corp and the Coalition rallied to convince the nation that removing incentives for property investors was tantamount to full blown communism.
Nah we defs need future negative gearing, where you write off future potential losses on your current tax return. That way we make sure the owner class will always have even more tax advantage than the rest of us and we can then see the wealth trickle down
Imagine a parady newspaper being the only paper advocating for good policy and governence.
>*..So, yes, if negative gearing were to be abolished for investors in established housing and that were to result, as we are routinely warned, in a reduction in investment in established housing, that would indeed reduce the supply of rental housing. But since that housing would instead be bought by aspiring owner-occupiers, it would reduce the demand for rental housing by exactly the same amount. And hence there would be no impact on rents. None at all.People who insist otherwise are only telling half the story. Calling them out will lead to a more honest discussion.*
>*- Saul Eslake is a vice-chancellor’s fellow at the University of Tasmania and an independent consulting economist. -* Guardian
As the housing crisis worsens, Australians are doubting the claims by Rupert Murdoch and the Liberals about negative gearing’s benefits. With nearly $39 billion in tax breaks for property investors this year, many believe these incentives have contributed to housing insecurity, especially for the younger generation.
You people understand that negative grading means you lost money as an investor right?