Gittins destroys Turnbott

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Oh yeh, Turnbott has lost control of the agenda alright, from Ross Gittins:

…When Turnbull displaced Tony Abbott five months ago I, like many others, dared to hope his ascension represented a new beginning for Australian politics…The eternal emphasis on attaining and retaining power, rather than on using that power to make Australia a better place to live and work.

But the closer we get to the pointy end of the Coalition government’s first term, the more possibilities for improvement are being taken off the table to leave the second-term work program awaiting the voters’ approval, the more Turnbull seems to be shrinking to the size of his stunted predecessors.

…The four tax subsidies to which the tax reform spotlight has turned – superannuation tax concessions, work-related deductions, negative gearing and the concessional taxing of capital gains – carry plenty of potential for changes that make the tax system both a lot fairer and more economically efficient, that is, less distorting of the choices individuals and businesses make.

…I hope I’m wrong but, as each day passes, it seems clearer that Turnbull isn’t preparing to match Labor’s boldness with boldness of his own. He’ll do something on each of those four tax subsidies, but not much.

Rather, he’s reverting to the Abbott tactic of portraying Labor as high-taxing and the Libs as low taxers. (Only a true believer would believe it’s that simple.) He’s launched into an Abbott-like scare campaign, claiming Labor’s negative gearing plan would knock house prices for six.

…What the pygmies don’t see is that the public can smell politicians and parties who put their careers ahead of serving the nation.

I smell a boil over.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.