Gotti rent-seeking eats dust

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Gotti has missed the boat:

If by chance Scott Morrison can unite his party then suddenly he has three “bread, butter and cake” issues outside of the morass of the energy/gender issues to fight an election.

I can’t see him winning, but the ALP’s outright rejection of the Liberals’ much-needed small business taxation appeal system gives him a chance that seemed impossible a week or two ago.

Add that to the retirement and pensioner’s tax and negative gearing and many millions of ordinary people are to be hit hard at a time of budget surplus.

Silly old fart. Or maybe cunning old fart, still massaging his dying readers.

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The nation has long moved on. Negative gearing reform is now popular. Indeed it has played a key role in the success of Labor under Bill Shorten. Franking credits are more divisive but only because most folks don’t know what they do. If they did they would also support the reforms.

Business taxation is irrelevant to most and anything that makes it easier to shirk is badly on the nose.

The endless income recession has ensured that fairness is the number one hot button issue in the country now and Labor owns it thanks to the above reform agenda.

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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.