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The AFR campaigns for productivity reform all the time. Then it constantly tries to kill it when it comes. Wankers.
Keating excoriated “howls” from wealthy business people who had “feasted” on lightly taxed capital gains for 25 years and now opposed the return to the inflation indexation of capital gains that he set up as treasurer in 1985.
…“The simple fact is that income is taxed too heavily while capital is taxed too lightly,” Keating said in a statement, echoing Treasurer Jim Chalmers’ rationale for overhauling the CGT discount.
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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.
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