‘Hideous’: Albanese government pushing for intergenerational equity

But let's talk about the budget, which is coming up on May 12th, because that's precisely it.They are, Labor have, you know, the federal Labor government, Albanese, Chalmers and so on, are coming after your money.They're coming after if you've got a trust, they're coming after that.Capital gains, if you're negative gearing, whatever, whatever it is, they are coming after hardworking Australians, middle class, working class.That's it.They're coming after the elderly in particular.

We are going to be seeing a budget which is designed to steal as much money as possible from the pockets of hardworking Australians who played by the rules all their lives, invested in a property so that they could look after themselves in retirement, put money into this, put money into that, whatever it might be.Labor are now determined to pitch young Australians against old Australians.And this hideous notion of intergenerational equity, which is just a massive lie.There is always a disparity between the generations because you spend your life working.Hopefully you are wealthier at the end of your life than you were at the beginning of your life.That's the point of capitalism, folks.

Hate to break it to Labour, but they want to steal, they want to punish success and they want to reward indolence, in my opinion.

Well, again, if you want to have a look at what the impact will be on housing, for example, have a look at Victoria, because Victoria has just exorbitant rates of land tax and also they've changed the conditions for landlords and tenants with the Tenancy Act.So everything is weighted towards the tenant.And guess what that means?landlords in record numbers have sold their properties.I think last year reported in the Herald Sun that in the previous 12 months something like one in three or one in four landlords had sold.So that just means the rental pool diminishes and rents go up because there's less and less property available.

That's not good for people starting out.their working lives because you start out the first few years renting hoping to be able to be in a position to buy at some point.So this entire politics of envy It's very easy to sell, very easy to sell particularly to people who are not that economically literate, but it is so destructive.But I think it's precisely what we're going to see from this budget and all these terms like intergenerational inequity.are about that, about selling the politics that if you're not where you want to be financially, it's these people's fault and we're going to take more from them and you'll be better off.It never ends up that way.

There's just a socialist doctrine, another variation of it.It's pure socialism.

And let's also point to the other language that they're Ah, misusing the language.They keep talking about tax reform.There is no reform.Jim Chalmers wouldn't know reform if it hit him over the head.He is a thief.He is out to steal your hard -earned money.

He's not reforming the tax system.He's ripping off the tax system to take money from hard -working Australians and putting it into the government's pockets so that they can spend it, so that the Labor government can spend it on all its ideological madness.which at the top of which pile, a big pile of madness at the top of which sits climate change.That's where they're going to be spending money.Immigration, climate change, handing out money.two people coming into this country rather than those who have worked all their lives to earn their own incomes, James.

Oh, well, I mean, you know, and what you say is absolutely correct.Remember, this is a government that is giving people money through the 5 % Home Deposit Scheme who aren't actually Australian citizens.Well, there you go.Great work.Terrific.This is exactly where the bias is.

You know, the bias is They're trying to hide the fact that they're against young Australians by pretending that they're actually against older Australians.And, you know, this whole thing, we're going to see an interest rate rise.very likely, come down on Tuesday.And you're going to hear chalmers go, oh, boo -hoo, boo -hoo.They're going to love this.And because, actually, on some level, they want to crash the property market.

They want to crash all of this out.Because there's no true words, Rita, that Anthony Albanese ever spoke than the time he spoke about how all he does is fights Tories.Now forget the fact that we don't have Tories here in Australia, for him Tory, because remember this is a guy, his entire life has been spent literally from day dot in public housing, on the public teat, one way or the other, worked for government his whole life, never produced anything of value, and he looks at people who are productive and do create wealth and do create things and I think that there's sort of psychologically an element of jealousy or at least Incomprehension there when he looks at productive people and he sees them as just this sort of weird thing and oh well There's a big pile of money with them.We better just take that away and the equity thing I am so sick of the word equity because equity is code word for communism and it is about not equality of opportunity Everybody agrees In this country, everybody should have the same starting line and we should all, you know, have the same equal chances to go make our choices.But what they want, they want at the end for those choices all to come out the same.So, you know, you can work hard and save your money and invest, make the right choices, you know, do the right things, build a family, build assets.

And they say, oh, no, no, no, no.This person over here, they made bad choices.Things didn't work out for them.They had some bad luck.So we need to take from you, them, and the overall thing always brings it down.You saw this though, the bitterness, the bitterness when they went after people, they're going after older people for their private health insurance rebates.

When you're older, that's the thing that you really, really need and you want to hold on to.This was an act of intergenerationalbastardry.And we see this with everything they're doing and going to do, whether it's that, whether it's trusts.You know, the trust thing was amazing.I was reading this yesterday.

They say, oh, well, that'll raise four or five billion dollars.That is about the amount of fraud there is conservatively in the NDIS every year.This tells you just how bankrupt it is. intellectually, economically and I would say morally, this government is.They are, as you say, they are thieves and they are coming, not in the night, on budget night.

But all these measures, the impact, you may have this goal and you might argue the merits of that goal, Labor would say it fits their ideology and they're in power, but All the unintended consequences are not what factored in, because we've gone down this road before with changing negative gearing and it ended very poorly.And that's why they went back.So to be going down this road again, you really have got very little understanding of what's happening.And if you want to see property prices perhaps not crash, but certainly stagnate again, look at Victoria.The rest of the country, particularly the capital cities, have been growing at a healthy rate.Melbourne, no.

Prices have flatlined or gone backwards, has that made things better for people in that state?Has it made a housing issue better?better, it hasn't.It has actually caused a whole bunch of other problems.And for the majority of Australians, everyday Australians, not the till electorates, for everyday Australians, their home is normally their biggest asset.So when you devalue that, it's actually not a great thing, particularly when they've worked their entire life to be able to pay for that.

But can we talk about the interest rates?Because this is somewhere where I do agree with Jim Chalmers to a certain point.in that it is a blunt instrument, it's imprecise and we need a different way because all this inflationary pressure we are seeing.is because of crazy government spending and punishing householders, mortgage holders with more interest rate increases.And they're talking about another three to four this year.That is just insane that those people are already hurting.

They're not the ones adding to inflationary pressure.It's the government spending.So why keep punishing homeowners and putting them into even greater financial stress, because the inflation rate isn't where you want it to be, when you know where the pressure is predominantly coming from.I just think there has to be...Yeah, but this is the point.

The Reserve Bank only has one instrument, and that's the point.

I know it has one instrument, but it has to work.And they're reacting.

It's a reaction.

I'm not blaming them for the inflation.

They're reacting to the disaster of the Labor government spending.They have no choice.They have no choice.

Well, they come out and say...We are raising interest rates because government spending has remained at this level.It needs to drop to this level at least for us to have some comfort that the inflation rate is going to go to a target rate.You're 100 % correct.They need to say that but they won't because they want their jobs.

They want their jobs and the way the RBA, you know, the Chalmers, they reorganised the way the RBA is run now.So you've got this board and you've got the press conferences and all this now and they're very reticent to criticise the government.