Deplorable Gotti urges Coalition scare campaign

By Leith van Onselen

Instead of arguing on policy merit, baby boomer mouthpiece Robert Gottliebsen has urged the Coalition to wage an almighty scare campaign against Labor’s tax policies in a bid to wrestle electoral victory from the jaws of defeat:

A scare campaign would raise the prospect that all pensioners are in danger [from Labor’s franking credit reforms].

…there is no doubt that over time the ALP negative gearing rules will lower dwelling values… The people to whom a Coalition scare campaign would be directed are those that bought in the boom and are in, or close to being in, a state of negative equity. There’s also the small businesses owners that use their homes as capital. And those in the discretionary retail business know they will be hit hard if dwelling prices fall further…

This is an intergenerational election and he must lock in as many voters as possible aged over 50.

In other words, forget about the long-term good of the nation. Priority number one is ensuring Gotti’s baby boomer constituents are protected from sharing the burden of adjustment and continue to make out like bandits.

Time to retire, mate. You’re done.

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Comments

  1. I think it is good that the pretence of objectivity is being ousted – on the record. It taints a whole career of supposed analytic rigor and lets the next generation know to question what they read in the MSM more carefully. One of the scariest things I have seen is the ease with which printed words in the MSM are repeated unfiltered in the mouths of everyday Aussies. One less hidden vested interest the safer our liberty can be.

  2. he is despicable
    having said that, because he lives in a bubble he thinks issues such as franking credits affect the everyman. Bill cuts through hard on franking credits when he talks about getting tax relief into the lower and middle income earners. My view is that more confected outrage from Gotti, LNP, Tim Wilson etc will be completely ineffective.

    • Gotti does live in a bubble, and his biases are self evident.

      That said, there are genuine problems with Labor’s tax proposals in terms of lazy, policy on the run design and their own self interest. The imputation credit system as it currently stands simply ensures that taxpayers receiving franked dividends pay tax on those dividends at their marginal tax rate. The real problem with them is that some people who actually earn a high income are subject to a zero marginal tax rate, ie wealthy retirees in pension phase. Refusing to refund what is in essence excess income tax paid up front will simply ensure that genuine low income earners who might happen to own a handful of shares, will be subject to a regressive flat 30 percent tax rate, potentially from their first dollar earned.

      Granted this isn’t a big subset of the population, but the underlying issue could be much better addressed by adjusting the relevant personal tax rates within super. Of course, the methodology that Labor have chosen appears to confer a significant advantage to their industry super fund benefactors. In essence they have chosen to throw some genuine low income earners and marginal self-funded retirees under the bus to keep their sponsors happy. Note too the arbitrary exemptions, some of which were a poorly thought through kneejerk response to criticism post the initial policy announcement.

      Ask yourself too why they have elected to grandfather negative gearing for existing investment property owners in perpetuity. Have you checked out which politicians own how much investment property lately?

      Some of Labor’s policies definitely move in the right general direction, but just like the others, hey are playing politics while keeping one eye firmly on the ball of self-interest. I’d be a lot more supportive if the detail of their proposed policies demonstrated a sincere effort to entrench fairness rather than capitalise on divisiveness.

      • lol nah, getting rid of franking credit cash refunds, stopping negative gearing on existing dwellings and reducing CGT discounts are all good policy. Ideally they wouldn’t grandfather NG (or at least introduce a 2/3 year look back period) and totally remove CGT discounts but getting rid of these handouts would do much more budget repair than the nation crossing it’s collective fingers and hoping we get bailed out by red dirt and black rocks…

      • @ lignie, lol nah, the franking credit policy has holes you could drive a truck through, a truth which will undoubtedly be exploited primarily by the very people it is meant to catch. I broadly support the supposed intent, but the policy as proposed is lazy and introduces incremental complexity our tax system can well do without. The more appropriate way of dealing with this is quite straightforward and pretty much foolproof, but there are people on both sides of the argument who don’t want to know.

        And does it p!ss me off that the pollies who sustained the unsustainable negative gearing for so many years as they accumulated their investment property portfolios will continue to exploit it indefinitely? You betcha. The way Labor have chosen to go about these things is no accident.

        Just being better than the other side doesn’t make them good. I don’t set the hurdle that low.

        But people seem more interested in ‘the feels’ than robust policy that actually achieves the objective.

  3. He’s very much in the mould of all of those News Corp has-beens. Terry McCrann, Gerard Henderson, Piers Ackerman. They should all be packed off to a home for the bitter and bewildered.

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