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Federal Election Campaign: Day 7

On day 7 the hysterics of privilege hit. Much as been made about about Labor's plans to end a loophole in our tax system which allows for people who have paid no tax to receive a subsidy when they already have a high income. How is such a thing possible? Because under Howard and Costello the sensible system of dividend imputation (introduced by Labor in 1987 to end a "double-tax") was modified to allow for a fully franked system even when no income tax had been paid - and this includes superannuation payments for those over 60 which doesn't count as taxable income. It's costing the country almost 8 billion per annum at the moment and increasing at a rate of knots - and why wouldn't it? It's an industrial-scale rort, paid for by you and me.

So Labor's had the policy to end this since 2016 - and when he was asked whether Labor would be increasing taxation on superannuation, of course, he said no. The LNP has gone into hysterics about this, but as Shorten has said: "When you close down concessions and loopholes, this is not a massive increase in taxation". But I guess this is what it feels like to lose a privilege.

I wonder if the same people will interpret cuts to welfare as a type of "tax" as well?

https://www.abc.net.au/news/2019-04-17/federal-election-shorten-clarifie...

Meanwhile, on the other side of the tracks, the country's independent auditor is looking at some $3,000 worth of taxpayer-funded connecting flights to the Philippines, conveniently where his fiancee lives. In fact, Mr. Christensen made 28 trips to the Philippines within four years and spent more time in that country than in Canberra during 2016 and 2017.

Ain't love grand? Just as the 'Member for Manila'. You're paying for it.

https://www.abc.net.au/news/2019-04-17/federal-election-wrap-labor-super...

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