“In many cases, it’s welfare for the wealthy – at the expense of every other Australian and the schools, hospitals and services they rely on”.
The Labor tax changes include scaling back concessions on negative gearing and capital gains tax and halting tax refunds under dividend imputation rules.
Source: ‘Welfare for the wealthy’: Chris Bowen
Comment: Bowen clearly regards money in circulation as the Labor government’s property to confiscate. In his delusional mindset, if he doesn’t tax you, that’s ‘spending’. Never mind that someone needed to take a risk, invest the capital, manage the asset and pay the CGT.
Now many people won’t bother. They’ll ‘go to Centrelink’ instead.