Labor’s support for a preliminary and incomplete paper from university academics that does not even model their policy shows just how desperate they are to distract from their $164 billion of new and higher taxes.
And the fact Labor boasts about findings that house prices would go down and rents go up should be of concern to every Australian, whether they’re a prospective first home buyer who rents or they own their own home.
Australians should also be alarmed that the paper’s findings Chris Bowen supports were generated in part through an effective ‘death tax’ on Australians:
“A household who dies unexpectedly has all his assets, taken by the government and liquidated if needed. After settling outstanding debt, the remaining assets are distributed equally to every surviving household in the economy.” [page 3]
Having already proposed to tax just about everything else, Chris Bowen has just raised the prospect of introducing a death tax by stealth if Labor was elected.
Worryingly for taxpayers the report’s findings also rely on a massive increase in welfare spending, meaning yet more higher Labor taxes.