113
Greens decry property tax breaks costing 78 times what Labor proposes to spend on social housing
(www.theguardian.com)
this post was submitted on 03 Aug 2023
113 points (99.1% liked)
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You don’t seem to see the problem at all, the goal of removing negative gearing is to force people to sell, what that means to their personal finances is immaterial
I don't see how to remove negative gearing. Any political party who even mentions it is immediately unable to form government. Mr Shorten pledged to overhaul Negative gearing during the 2019 election and was quickly trounced, despite the Liberal party being in a shambles at the time.
I also don't see how it is going to make that much difference to the people we want. I don't know how many properties my own landlord owns, but I know it's more than three. Those are the people we want to urge to sell. Negative Gearing just isn't that large a factor in his finances. In his world, the rent collected is his income. Take Negative Gearing away and he just does the 'Landlord inc' company route. Rent collected is company revenue, ponzi scheme continues as his 'company' buys properties and makes no profit.