Comedy central, this guy says it all. If only there was a transcript!
The emotions this video elicit will only grow following Tony Abbott’s forceful ruling out of Negative Gearing reform today. He wants ‘lower, simpler, fairer taxes’ and then goes on to say it was the former government’s excess spending to blame.
Tax loopholes are a form of government expenditure. The Parliamentary Library infact states:
A tax expenditure is the provision of a benefit by way of preferential treatment in the tax system. It has a similar effect on the budget to direct expenditure, but is subject to far less scrutiny. Transparency would be increased in many cases if tax expenditures were replaced with direct expenditure.
When NG expenditures quantify $5 billion per annum and curtail consumer spending at the local level, the Rhodes scholar PM is destined someday to understand expenditure flows.
Past posts on Negative Gearing.