Why House Prices Are Rigged Against You, Mining Billionaires' 3% Fine & The Punters' E-Bike Rides + Australia is Waking Up To A Gas Tax + They Tried to HIDE This Report + The Punters Lobbyist
Why House Prices Are Rigged Against You, Mining Billionaires' 3% Fine & The Punters' E-Bike Rides
THE SCAM: The 1999 Howard government introduced a 50% capital gains tax discount for assets held longer than 12 months. Property investors pay tax on half their profit, while wage earners get no such discount on their income taxes.
THE DAMAGE: This costs $23 billion a year - more than double the cost of universal dental. 82% flows to the top 10% of earners. 60% goes to the top 1%. It has priced first home buyers out of the market.
THE COVER-UP: The media is protecting it because the companies that own real estate listings benefit from high prices. Any politician who mentions touching it gets slammed. The government hasn't touched it in 25 years.
Punter Citations:
ABC - One million Australians are negatively gearing, new tax figures show
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It’s HAPPENING: Australia is Waking Up To A Gas Tax
THE SCAM: Australia is one of the world's biggest gas exporters, yet the PRRT is forecast to bring in just $1.5 billion in 25-26. Beer tax will pull in $2.7 billion. PRRT is marketed as a tax, but it's a royalty - you own that gas. The gas lobby frames any increase as a tax hike to weaponise public opposition, while political donations flow freely.
THE DAMAGE: We've pissed away a generation of wealth. Norway's sovereign wealth fund sits at $3 trillion - they made more in one year than Australia's entire $166 billion Future Fund. When their gas runs out, they've got money forever. When ours runs out, we've got nothing.
THE COVER-UP/OUTCOME: Major parties won't touch it. The Liberals' new deputy leader was asked about increasing PRRT and pivoted to "we want lower taxes" - meaning for the corporations that fund them. Labor's minister served up waffle. The only reason this is getting airtime is a politician's Instagram reel hit (now) 8.9 million views.
Punter Citations:
The Point - Why Australia taxes beer more effectively than its gas exports
They Tried to HIDE This Report... So I read it.
THE SCAM: In 2022, Labor promised to end cushy public service jobs for unqualified mates. They commissioned an independent, the report found it was "frequent practice" to appoint friends to board positions paying up to $800,000 a year "to reward loyalty." Last-minute appointments before elections were described as "shameless."
THE DAMAGE: Your tax dollars pay the salaries of politicians' best buddies. The culture of patronage continues. The review recommended banning ex-politicians from these jobs for up to 18 months.
THE COVER-UP/OUTCOME: The report was handed to government in August 2023. They sat on it for 18 months. When finally released, they implemented none of the key recommendations. Labor talked big in opposition, then got into power and thought: if we ended this, where would all our mates get jobs?
Punter Citations:
The Guardian - Scathing ‘jobs for mates’ review finds appointments to government boards routinely abused
The Punters Lobbyist
THE MISSION: We held the Punters Political Fundraising Dinner, we raised the $75k, you voted for your Hottest 5 Policies, now we are hiring a hire a lobbyist to head to Parliament House!
THE UPDATE: The job ad has been up on Seek and LinkedIn for a few weeks. We've had applications from political staffers, lobbyists and academics, but no ex-politicians yet. Next Konrad is planning on calling firms to get a ballpark on cost if we were to hire an industry Lobbyist for a year.
WHY IT MATTERS: We are exposing that their are 2000 unregistered lobbyists roaming parliment house lobbying for policy on behalf of corporations and the rich. We are hiring a lobbyist for the citizens to fight back.