WEBVTT - Paul Murray Live | 26 September 0:00:00.240 --> 0:00:02.120 From the Sky News Center. 0:00:02.520 --> 0:00:05.519 This is Paul Murray Live. 0:00:07.000 --> 0:00:09.240 Good evening and welcome to the show. Calab Bond in 0:00:09.320 --> 0:00:13.600 the chair tonight. Paul is actually putting his family first 0:00:13.720 --> 0:00:16.239 for once tonight. His words, not mine, he told me 0:00:16.600 --> 0:00:18.160 he could say that. So they've got the only other 0:00:18.200 --> 0:00:20.680 Baido in the buildings to come and bilin. We will 0:00:20.720 --> 0:00:23.560 get into all of the day's news. Caroline Marcus here 0:00:23.640 --> 0:00:26.960 on the desk, and plenty of others. Don't go away. Well, 0:00:27.040 --> 0:00:31.600 Albinocchio could not have moved any faster. Actually he could have. 0:00:31.680 --> 0:00:34.040 He could have just flat out ruled out any changes 0:00:34.080 --> 0:00:37.199 to negative gearing yesterday. But the PM was out there 0:00:37.200 --> 0:00:41.199 this morning saying there were no plans to do anything. 0:00:41.280 --> 0:00:42.920 Frankie Jr. Take it away. 0:00:44.880 --> 0:00:51.760 What a difference today, twenty four little hour. 0:00:54.000 --> 0:00:56.920 Now, clearly the message came through that not ruling out 0:00:56.960 --> 0:00:59.200 one of the policies that killed Bill Shorten in the 0:00:59.280 --> 0:01:03.600 unlosable lietion of twenty nineteen wasn't playing all that well. 0:01:04.000 --> 0:01:05.840 I'll tell you what. It seems to be getting under 0:01:05.880 --> 0:01:08.800 his skin though, because he was a bit tasty doing 0:01:08.800 --> 0:01:11.360 the morning TV rounds today. Here he was with our 0:01:11.400 --> 0:01:14.479 own Peter Steffanovic this morning, Well. 0:01:14.360 --> 0:01:18.040 We have no plans to touch it or change negative gearing. 0:01:18.240 --> 0:01:24.040 What we did with our income tax changes was to 0:01:24.040 --> 0:01:26.680 deliver a tax cup for every Australia. 0:01:26.360 --> 0:01:29.160 Live doing you live, you were deceps doing that. 0:01:29.280 --> 0:01:31.520 Guess what, Pete, Well, well if I did so to 0:01:31.600 --> 0:01:33.360 plead it, Dutton because they voted for it. 0:01:34.720 --> 0:01:38.560 Not a happy chappie our Albinocchio. He gave the Today 0:01:38.640 --> 0:01:40.600 Show the same treatment when he was asked about his 0:01:40.640 --> 0:01:41.480 fiscal management. 0:01:42.440 --> 0:01:44.200 You know, and as economists have told us as well, 0:01:44.240 --> 0:01:47.200 that two point seven percent rate is really just mirroring 0:01:47.200 --> 0:01:49.240 the rebates, the energy rebate that's out there and actually 0:01:49.240 --> 0:01:52.000 the inflation rates three point five nine. Michelle Bullet hasn't 0:01:52.040 --> 0:01:53.520 moved the rates the interests. 0:01:54.120 --> 0:02:00.520 That that's not right, Sarah, with respect the poor fel Now, 0:02:00.680 --> 0:02:02.200 it's all good and well for him to say that 0:02:02.240 --> 0:02:05.680 there are no plans to change negative gearing or they're 0:02:05.720 --> 0:02:07.840 not considering changing negative gearing. 0:02:08.120 --> 0:02:11.480 But we've been in exactly the same position before, of course, 0:02:11.520 --> 0:02:14.800 when it came to Stage three tax cuts, as Stefanovic 0:02:14.880 --> 0:02:18.000 pointed out before, I mean they said before the election 0:02:18.160 --> 0:02:20.560 that there wouldn't be any changes to them, and they 0:02:20.639 --> 0:02:23.040 kept saying it after the election, they said it all 0:02:23.040 --> 0:02:26.720 the way up to this year. But of course that's 0:02:26.840 --> 0:02:30.720 not what happened, is it. We later found out that 0:02:30.760 --> 0:02:34.040 the Treasurer Jim Chalmers had asked the Treasury to do 0:02:34.200 --> 0:02:38.359 modeling on changing the tax cuts just after the twenty 0:02:38.440 --> 0:02:41.840 twenty two election. So here we are again. The government 0:02:41.880 --> 0:02:45.280 has commissioned the Treasury to do the modeling on changes 0:02:45.320 --> 0:02:48.240 to negative gearing, just like they did on Stage three 0:02:48.280 --> 0:02:51.000 tax cuts, which they changed. And yet we're meant to 0:02:51.000 --> 0:02:54.079 believe that this time it's for no reason that they're 0:02:54.320 --> 0:02:57.560 not actually going to do anything. I mean, fool me once, 0:02:57.760 --> 0:03:00.440 Shame on you, and you know the rest. But the 0:03:00.440 --> 0:03:03.920 government would have to be genuinely brain dead if they 0:03:03.960 --> 0:03:06.880 are considering this in any way, and not just because 0:03:06.919 --> 0:03:11.160 Shorten did it in twenty nineteen. We have been here before. 0:03:11.639 --> 0:03:15.680 Labor banned negative gearing before. Let's go back to nineteen 0:03:15.760 --> 0:03:20.480 eighty five. Next Saturday night, we're sending you that to 0:03:20.600 --> 0:03:25.520 the future Thursday night. But you get the point. Paul Keatings, Treasurer, 0:03:25.560 --> 0:03:29.000 got rid of negative gearing in July nineteen eighty five. 0:03:29.160 --> 0:03:30.840 Now I know it can be difficult to get your 0:03:30.880 --> 0:03:33.760 head around what it is, but basically, it's where property 0:03:33.760 --> 0:03:36.640 investors offset the losses on their property, which is the 0:03:36.640 --> 0:03:39.560 difference between rental income and what they have to spend 0:03:39.600 --> 0:03:42.520 on the place against their other income. It's a tax 0:03:42.560 --> 0:03:45.200 write off, like any other claim that you might make 0:03:45.240 --> 0:03:48.840 for expenses that relate to work. Keating told Cabinet all 0:03:48.840 --> 0:03:51.520 that time ago, back in the eighties that the government 0:03:51.600 --> 0:03:55.000 cannot continue to tolerate a situation in which the general 0:03:55.040 --> 0:03:59.000 body of tax payers effectively subsidizes the property investments of 0:03:59.000 --> 0:04:03.920 a particular group of usually high income tax payers. Now, 0:04:03.960 --> 0:04:07.000 this was meant to raise fifty five million dollars in 0:04:07.040 --> 0:04:09.920 the first year, but it actually only raised eleven million 0:04:09.960 --> 0:04:13.160 dollars because investors found other places to put their money 0:04:13.160 --> 0:04:16.839 and they claimed different tax breaks. Now, vacancy rates in 0:04:16.880 --> 0:04:20.159 Sydney and Perth went through the floor one percent in Sydney, 0:04:20.200 --> 0:04:23.240 one point four percent in Perth, and rents went through 0:04:23.240 --> 0:04:25.920 the roof. Investors went bunter and now for the whole 0:04:25.960 --> 0:04:29.479 thing didn't work. Keating brought negative gearing back quietly in 0:04:29.600 --> 0:04:33.520 nineteen eighty seven and it's been there ever since. Now, 0:04:33.680 --> 0:04:36.159 some commentators have pointed to the fact that it was 0:04:36.200 --> 0:04:38.760 only Sydney in Perth that suffered in the eighties and 0:04:39.040 --> 0:04:41.680 say that on that basis getting rid of negative gearing 0:04:42.000 --> 0:04:45.920 would make no real difference to rental prices or rental availability. 0:04:46.520 --> 0:04:50.160 But the vacancy rates right now across the country are 0:04:50.240 --> 0:04:53.480 extremely close to what they were when negative gearing was 0:04:53.520 --> 0:04:56.840 abolished in the eighties. It's one point six percent in Sydney, 0:04:57.000 --> 0:05:00.760 point seven percent in Darwin, one point one percent in Brisbane, 0:05:01.000 --> 0:05:04.960 point six percent in Adelaide, one point one percent in Hobart, 0:05:05.160 --> 0:05:08.520 one point six percent in Melbourne, and point seven percent 0:05:08.640 --> 0:05:12.599 in Perth. The national rate has effectively been stagnant around 0:05:12.680 --> 0:05:15.520 one point two to one point three percent since March 0:05:15.560 --> 0:05:19.039 twenty twenty two. So when the availability of rentals is 0:05:19.080 --> 0:05:22.440 that low across the country, you can't tell me that 0:05:22.520 --> 0:05:26.920 scrapping negative gearing won't hurt the rental market. And even 0:05:26.960 --> 0:05:30.000 if you are to assume that it won't drive rents up, 0:05:30.040 --> 0:05:32.680 it's all these properties in the rental market are going 0:05:32.720 --> 0:05:35.279 to stay in the rental market because we're certainly not 0:05:35.400 --> 0:05:38.320 building them fast enough to keep up with demand. So 0:05:38.440 --> 0:05:41.120 if for a mom and dad investor can't afford to 0:05:41.200 --> 0:05:44.279 keep the property because it's now costing them too much money. 0:05:44.720 --> 0:05:46.960 It means that they have to sell it. And remember 0:05:47.080 --> 0:05:50.159 we're assuming all these properties are staying in the rental market. Now, 0:05:50.480 --> 0:05:53.279 the people renting these places aren't magically going to have 0:05:53.360 --> 0:05:56.159 the money to buy them as an owner occupy. So 0:05:56.240 --> 0:05:58.280 the only people who will be able to buy them 0:05:58.480 --> 0:06:01.320 and keep them in the rental market are even wealthier 0:06:01.360 --> 0:06:04.279 property investors who can afford to cop the loss now 0:06:04.720 --> 0:06:06.600 in the hope they'll make it up in the property 0:06:06.680 --> 0:06:10.920 value further down the track. So Albow, the workers champion, 0:06:10.960 --> 0:06:14.200 apparently meant to be looking after the battlers. He would 0:06:14.240 --> 0:06:18.159 force ordinary hard working Aussies to sell their investments and 0:06:18.200 --> 0:06:22.120 effectively be redistributing wealth from the working and middle class 0:06:22.120 --> 0:06:25.800 to the rich. I mean, slow clap, buddy. Surely they 0:06:25.839 --> 0:06:29.239 can't be that stupid. While we're talking about the federal government, 0:06:29.279 --> 0:06:31.640 they brought in all these rules earlier in the year 0:06:32.160 --> 0:06:35.559 making it illegal to sell vapes. Now, anyone who's walked 0:06:35.600 --> 0:06:39.320 into a tobacconist or a convenience store, you will know 0:06:39.760 --> 0:06:42.960 it's done absolutely nothing. You can still buy them anywhere, 0:06:43.160 --> 0:06:46.240 and it's just helped fuel the illegal vape and tobacco market, 0:06:46.240 --> 0:06:50.440 which is now going gangbusters. One hundred tobacconists in Victoria 0:06:50.600 --> 0:06:54.120 have now been firebombed and organized crime gangs are fighting 0:06:54.160 --> 0:06:57.240 over who gets to control the market. That's what they're 0:06:57.279 --> 0:07:01.440 fighting about. They're literally bombing shops to stop them buying 0:07:01.480 --> 0:07:05.000 illegal cigarettes from the other mop. Now, anyone who's watched 0:07:05.000 --> 0:07:07.640 Me or any other show on this channel will know 0:07:07.839 --> 0:07:10.960 how stupid I think all this is. The ridiculous tobacco 0:07:11.040 --> 0:07:15.560 excis has created a massive market for crime games. Banning vapes, 0:07:15.560 --> 0:07:18.480 it hasn't stopped kids from vaping. Is just poured more 0:07:18.520 --> 0:07:22.040 money into the pockets of bikies. And the government kind 0:07:22.040 --> 0:07:24.960 of worked out this wasn't working, so the Greens got 0:07:25.000 --> 0:07:28.000 on board and said, look, why don't we let pharmacies 0:07:28.000 --> 0:07:31.280 start selling vapes with a prescription in July. And even 0:07:31.320 --> 0:07:33.760 though the pharmacies don't really want it, it's not in 0:07:33.800 --> 0:07:36.840 their wheelhouse, they say that it'll make them a target. 0:07:37.040 --> 0:07:39.559 From next month, you'll be able to buy a vape 0:07:39.600 --> 0:07:42.880 at a pharmacy without a prescription as long as you're 0:07:42.920 --> 0:07:46.960 over eighteen. So any adult can buy a vape legally, 0:07:47.040 --> 0:07:49.480 but you have to go to mister pharmacists to get it, 0:07:50.000 --> 0:07:52.320 even though you can walk into any supermarket and buy 0:07:52.320 --> 0:07:54.960 a packet of darries. Of course, we know that vapes 0:07:54.960 --> 0:07:58.160 aren't as dangerous the cigarettes, but they're much more readily available. 0:07:58.600 --> 0:08:01.080 The ciggi's try and make it make sase. But now 0:08:01.080 --> 0:08:04.080 Western Australia says they're going to bring in tougher rules 0:08:04.120 --> 0:08:07.240 to override the federal government and stop people from being 0:08:07.280 --> 0:08:10.040 able to buy a vape to the pharmacist without a prescription. 0:08:11.120 --> 0:08:13.880 The majority of vapes are illegal, but they're still so 0:08:13.960 --> 0:08:14.640 easy to get. 0:08:14.760 --> 0:08:15.560 Can I get all I want? 0:08:15.720 --> 0:08:15.960 Doctor? 0:08:16.280 --> 0:08:16.720 You can get it? 0:08:16.800 --> 0:08:17.360 Many of you want. 0:08:17.400 --> 0:08:17.520 Bro. 0:08:17.800 --> 0:08:21.040 The state government now bypassing federal laws to stamp out 0:08:21.160 --> 0:08:25.040 vaping without a script. A recent nine News investigation confirming 0:08:25.080 --> 0:08:28.400 what everyone knows. The devices are easy to get and 0:08:28.600 --> 0:08:32.080 everywhere Perth retail is vaping with one hand, are legally 0:08:32.120 --> 0:08:33.000 selling them with the other. 0:08:33.360 --> 0:08:34.520 How much do you sell them for. 0:08:36.200 --> 0:08:36.920 Seventy each? 0:08:37.240 --> 0:08:40.120 It's been too easy, it's been far too easy, and 0:08:40.160 --> 0:08:42.480 it's been aggressively targeted to children. 0:08:42.640 --> 0:08:45.640 The federal government's new laws would have let pharmacies sell 0:08:45.720 --> 0:08:49.080 vapes without a script. The state government is rewriting WA's 0:08:49.120 --> 0:08:53.280 regulations to uphold our current rules, meaning here you still 0:08:53.400 --> 0:08:56.120 must have a prescription to legally buy a vape. 0:08:56.280 --> 0:08:58.720 None of the laws or compliance will be targeting the 0:08:58.840 --> 0:09:02.559 users of vapes, targeting those organizations who continue. 0:09:02.200 --> 0:09:02.960 To flout the law. 0:09:03.880 --> 0:09:07.199 Now, the pharmacy model is not perfect by any means, 0:09:07.200 --> 0:09:10.720 but let me get this straight. Illegal vapes are being 0:09:10.760 --> 0:09:13.199 sold out of dodgy shops all over the country, all 0:09:13.240 --> 0:09:17.040 over WA, and so the West Australian government is going 0:09:17.040 --> 0:09:20.000 to ban the one legal way to buy a vape 0:09:20.240 --> 0:09:23.120 that doesn't line the pockets of organized crime games that 0:09:23.240 --> 0:09:27.000 could actually take some market off of the crims. The 0:09:27.080 --> 0:09:29.320 bikis the Hill's angels. I mean, they may as well 0:09:29.360 --> 0:09:32.520 send a thank you letter to the West Australian government. 0:09:32.880 --> 0:09:35.720 If the ban hasn't worked to this point, then what 0:09:35.840 --> 0:09:39.280 on earth makes them think it's going to work now? 0:09:39.960 --> 0:09:40.160 Now? 0:09:40.320 --> 0:09:43.760 Saturday, of course, is AFL Grand final Day. I mean 0:09:43.920 --> 0:09:47.320 this is like Christmas to Ozzie Rules fans like me 0:09:47.440 --> 0:09:51.360 that the last Saturday in September, it just has a 0:09:51.480 --> 0:09:55.080 feeling about it. Mike Brady gets up and sings up there, Kazale, 0:09:55.080 --> 0:10:11.200 how good is Mike Brady. I can just feel it already. 0:10:11.240 --> 0:10:14.480 My spine is tingling. I could hear my producers singing 0:10:14.520 --> 0:10:17.439 in the back room just before when they were playing that. Now, 0:10:17.480 --> 0:10:19.520 I'm sure some people might get the same thing with 0:10:19.600 --> 0:10:22.520 the NRL Grand Final, but I'm an Adelaide boy, so 0:10:22.559 --> 0:10:25.800 you'll have to indulge me. You know where my loyalties lie. 0:10:25.880 --> 0:10:27.600 And I don't have a dog in the fight because 0:10:27.640 --> 0:10:30.560 I am a crows Man, just like our great Chris Kenny. 0:10:30.640 --> 0:10:33.200 And I don't know this might be a bit sacrilegious 0:10:33.200 --> 0:10:35.320 to say now that I live in Sydney, but I 0:10:35.400 --> 0:10:38.400 really want the Brisbane Lions to beat the Sydney Swans, 0:10:38.480 --> 0:10:41.520 and I want it for their coach, Chris Faken. Now 0:10:41.640 --> 0:10:44.720 you might remember he was dragged through the mud after 0:10:44.800 --> 0:10:49.240 a report into supposed racism at Hawthorne Football Club implicated 0:10:49.320 --> 0:10:52.760 him and the former coach Alastair Clarkson, who's now at 0:10:52.760 --> 0:10:53.520 North Melbourne. 0:10:53.559 --> 0:10:53.719 Now. 0:10:53.800 --> 0:10:56.800 The bloke who wrote that report, Phil Egan. He's since 0:10:56.840 --> 0:11:00.360 been charged with more than seventy counts of fraud, accused 0:11:00.400 --> 0:11:03.720 of stealing nearly eight hundred grand from the Aboriginal organization 0:11:04.240 --> 0:11:06.960 for which he worked and the allegations were thrown out 0:11:06.960 --> 0:11:10.600 by the AFL after two reports it commissioned into the 0:11:10.640 --> 0:11:13.680 matter found there was a complete lack of evidence. Now, 0:11:13.920 --> 0:11:17.040 Fagan seemed to fear a bit better mentally than Clarkson, 0:11:17.080 --> 0:11:19.360 who had to take some time off at North Melbourne 0:11:19.679 --> 0:11:23.160 to get himself together. Fagan kept coaching at Brisbane. But 0:11:23.240 --> 0:11:25.760 I really want him to win, to stick it up 0:11:25.800 --> 0:11:29.559 the doubters and prove his extraordinary strength in the face 0:11:29.600 --> 0:11:35.040 of allegations of racism that two independent reports found had 0:11:35.280 --> 0:11:38.440 no basis. Of course, we know these days you throw 0:11:38.520 --> 0:11:43.080 mud and it sticks. Sometimes it sticks forever. Accusing someone 0:11:43.080 --> 0:11:46.000 of racism is just about one of the worst things 0:11:46.040 --> 0:11:49.280 you can do these days, and a flag would be 0:11:49.360 --> 0:11:52.600 the perfect up yours. I hope he gets it. But 0:11:52.679 --> 0:11:55.320 let's get back into the negative gearing discussion and plenty 0:11:55.320 --> 0:11:57.280 of other news of the day. Joining me here tonight 0:11:57.320 --> 0:12:00.360 in the man Cave is Caroline Marcus. Down in alban 0:12:00.520 --> 0:12:04.359 is Michael Kroger. Thank you both for being here. Caroline. 0:12:04.200 --> 0:12:08.840 We played the comments before from elbow. He was looking 0:12:09.080 --> 0:12:12.560 pretty testy this morning. This is getting under his skin. 0:12:12.679 --> 0:12:16.960 Oh, it absolutely is, and he really wears his emotions 0:12:17.000 --> 0:12:20.400 on his sleeves, so to speak. He really shows when 0:12:20.559 --> 0:12:23.360 he doesn't like a question, doesn't he, because it almost 0:12:23.360 --> 0:12:27.360 becomes an attack on the journalist who asks the tricky question. 0:12:27.520 --> 0:12:30.480 We saw it this morning with our own Pete Stefanovic, 0:12:30.600 --> 0:12:33.760 who actually asked him some tough questions. And isn't this 0:12:33.880 --> 0:12:36.840 exactly the same kind of language that he used back 0:12:36.880 --> 0:12:41.880 when he refused to rule out changes to the stage 0:12:41.920 --> 0:12:45.400 three tacks? Jack, It is exactly the same, so we 0:12:45.520 --> 0:12:48.480 know the direction this is really going in. But when 0:12:48.720 --> 0:12:51.920 Pete tried to ask him about that, he repeatedly told 0:12:52.000 --> 0:12:54.560 him he wasn't listening to him. Well, he was listening, 0:12:54.640 --> 0:12:58.120 and he wasn't answering the questions, the very simple questions 0:12:58.160 --> 0:13:00.800 he was being asked, And that's because he doesn't want 0:13:01.040 --> 0:13:04.120 to see the polls go even further down. He wants 0:13:04.160 --> 0:13:08.400 to it would seem just thrust this upon voters at 0:13:08.400 --> 0:13:14.120 the last minute, and he changes to the negative gearing 0:13:14.240 --> 0:13:17.480 or capital gains tax. And the truth is, Caleb, it's 0:13:17.520 --> 0:13:21.040 not just changes that would affect the very wealthy, which 0:13:21.040 --> 0:13:25.000 is what the government is trying to steer the conversation 0:13:25.400 --> 0:13:28.240 into at the moment, isn't it It affects almost a 0:13:28.320 --> 0:13:31.360 million Australians, many of which are mum and dad investors 0:13:31.400 --> 0:13:34.280 who might just have one investment property. That would be 0:13:34.400 --> 0:13:36.640 the majority of cases. Yes, there are people who have 0:13:37.040 --> 0:13:40.280 multiple properties and they're super wealthy, but there are mum 0:13:40.320 --> 0:13:42.160 and dad investors who are doing it tough, who are 0:13:42.160 --> 0:13:44.440 struggling just like everyone else with the cost of living, 0:13:44.600 --> 0:13:46.800 who are going to be impacted. And again, it doesn't 0:13:46.800 --> 0:13:50.560 seem fair to change things midstream when they haven't got 0:13:50.600 --> 0:13:51.959 a mandate to do that, correct. 0:13:51.960 --> 0:13:54.640 I mean, I'm one of them. I bought a property 0:13:54.640 --> 0:13:56.679 when I was twenty one years old in Adelaide, and 0:13:56.679 --> 0:13:59.160 of course I've since left Adelaide and gone into States 0:13:59.240 --> 0:14:01.360 or not living in it. I have someone else in 0:14:01.440 --> 0:14:04.320 there paying for part of the mortgage. And this is 0:14:04.360 --> 0:14:07.360 the point, Mirchael, right, most people who have a negatively 0:14:07.400 --> 0:14:11.319 geared property are mum and dad investors. They've been smashed 0:14:11.360 --> 0:14:14.240 by interest rates in the last couple of years. They're 0:14:14.280 --> 0:14:17.440 not turning a profit on this property, but they're keeping 0:14:17.440 --> 0:14:20.720 it in the rental market, which is thoroughly strained right 0:14:20.760 --> 0:14:24.320 now because they have negative gearing available to them. As 0:14:24.400 --> 0:14:27.640 I said before, Keating scrapped it in eighty five. He 0:14:27.680 --> 0:14:30.240 brought it back in eighty seven because it didn't work. 0:14:30.760 --> 0:14:37.920 Why would Labor possibly think this would be a smart idea, because. 0:14:37.600 --> 0:14:40.400 Mate, he's got no other ideas, and he's under pressure 0:14:40.400 --> 0:14:43.160 from the left. When in doubt, if you're on the left, 0:14:43.160 --> 0:14:47.040 you just pressure elbow and eventually he will fold on 0:14:47.080 --> 0:14:51.280 a thousand issues that don't bear repeating. I mean, Labor 0:14:51.280 --> 0:14:54.080 have never won an election promising a tax increase. We 0:14:54.520 --> 0:14:57.520 won one with the Gst election in ninety eight, and 0:14:57.720 --> 0:14:59.840 John Howard escape by the skin of his teeth. 0:15:00.120 --> 0:15:00.720 You go to an. 0:15:00.600 --> 0:15:04.160 Election promising massive tax increases, which Labor did in nineteen 0:15:04.240 --> 0:15:06.640 more we saw what happened. If he goes to the 0:15:06.680 --> 0:15:10.240 election with changes to capital gains tax and negative gearing, 0:15:10.920 --> 0:15:13.160 it'll do him huge electoral damage, no matter what he 0:15:13.200 --> 0:15:16.000 does in terms of grandfathering, or it's only five properties 0:15:16.400 --> 0:15:18.280 or more or whatever it is, because people know that's 0:15:18.320 --> 0:15:20.080 the first step. You know, once you get on this 0:15:20.120 --> 0:15:23.640 slippery slope, it's five properties down to three properties, et cetera, 0:15:23.640 --> 0:15:26.000 et cetera, And then ultimately you get to the Greens. 0:15:26.560 --> 0:15:29.680 You know the Greens. You know magic pudding solution, which 0:15:29.720 --> 0:15:31.360 is to tax capital gains in the sale of the 0:15:31.400 --> 0:15:34.320 family homes. That's ultimately what the Greens want, and that 0:15:35.000 --> 0:15:37.720 leaks into Labor Party thinking. It's like, well, what's so 0:15:37.760 --> 0:15:40.080 special about the home. It's just just an investment. It's 0:15:40.120 --> 0:15:43.160 a property I live in. So ultimately that's the Greens, 0:15:43.280 --> 0:15:45.960 that's the Greens policy. That would seep into Labour's policy 0:15:46.040 --> 0:15:49.120 five ten years down the track. So if Aobo starts this, 0:15:49.200 --> 0:15:51.120 people just not going to trust him. You can't trust 0:15:51.120 --> 0:15:53.680 this bloke. I mean, he makes He said he wasn't 0:15:54.120 --> 0:15:56.880 wasn't going to change Stage three tax cuts. He did, 0:15:56.920 --> 0:15:58.760 he wasn't going to do anything with souper. How many 0:15:58.760 --> 0:16:02.320 times did we see that before the he did. He's 0:16:02.360 --> 0:16:05.800 now taxi, unrealized capital gains and super funds. I mean 0:16:05.880 --> 0:16:09.080 what I mean. The guy doesn't understand economics. He doesn't 0:16:09.120 --> 0:16:12.160 understand the investment community, and he should. But the one 0:16:12.160 --> 0:16:15.520 thing he'd be sure upon is calib that the if 0:16:15.560 --> 0:16:20.119 he brings in tax on capital gains for investment properties, 0:16:20.440 --> 0:16:24.120 he won't be making it retrospective. He won't be making 0:16:24.160 --> 0:16:27.640 it retrospective because that would affect him. Now, that's not 0:16:27.680 --> 0:16:30.120 the reason he's not bringing that's not the reason he 0:16:30.160 --> 0:16:33.160 would he wouldn't be bringing in. But my point is 0:16:33.280 --> 0:16:37.200 Albanezi is collapsing under the weight of the left and 0:16:37.240 --> 0:16:41.400 he's got no other ideas and him, you know, he 0:16:41.520 --> 0:16:43.040 just might do something out of desperation. 0:16:43.360 --> 0:16:45.480 Well, what really irks me about it, Caroline, is that 0:16:45.560 --> 0:16:48.240 it's a return to the politics of envy. You know, 0:16:48.600 --> 0:16:51.000 it's setting it up as all you know, you, you 0:16:51.080 --> 0:16:54.200 poor bastard who's struggling away in your rental property. It's 0:16:54.240 --> 0:16:57.800 because the landlord is raking in loads of money thanks 0:16:57.840 --> 0:17:02.240 to negative gearing. Most investment properties, as we alluded to before, 0:17:02.120 --> 0:17:04.680 and not owned by or actually shouldn't say that most 0:17:04.720 --> 0:17:08.000 investment properties aren't owned by wealthy people. The majority of 0:17:08.040 --> 0:17:11.400 property investors are not wealthy people. Their mum and dad 0:17:11.440 --> 0:17:14.639 investors who have won two maybe three properties, which is 0:17:14.760 --> 0:17:18.360 basically their retirement fund. Right, there's superannuation, and so it's 0:17:18.400 --> 0:17:21.200 being set up as you should be worried that these 0:17:21.240 --> 0:17:23.800 people have more than you. Well, that doesn't move us 0:17:23.800 --> 0:17:26.399 forward as a country, doesn't put any money back in 0:17:26.440 --> 0:17:27.560 anyone else's pocket. 0:17:28.000 --> 0:17:31.840 Well, it is class warfare what that's all about, really, 0:17:31.920 --> 0:17:35.719 and it's not healthy, I think for Australian society. We 0:17:35.760 --> 0:17:38.360 already have a tall poppy type of syndrome. But these 0:17:38.359 --> 0:17:41.080 are not tool poppies, as both of us have pointed 0:17:41.119 --> 0:17:43.600 out their momentad investors. They're people who are struggling with 0:17:43.640 --> 0:17:46.959 the cost of living like everyone else. But ultimately, I mean, 0:17:47.000 --> 0:17:49.359 I think we do obviously have a housing crisis in 0:17:49.359 --> 0:17:53.800 this country and the government is getting desperate to get 0:17:53.880 --> 0:17:57.800 some wins on the board because honestly, nothing is going 0:17:57.800 --> 0:18:00.280 in their favor and they have to do something. I 0:18:00.400 --> 0:18:03.520 just don't think this is it, but they do need 0:18:03.560 --> 0:18:07.560 to address. Any government who wants to be successful in 0:18:07.600 --> 0:18:10.640 this country needs to address this housing crisis. I don't 0:18:10.680 --> 0:18:13.400 think this is a solution, but it's just an act 0:18:13.440 --> 0:18:14.240 of desperation. 0:18:14.680 --> 0:18:17.240 The solution is to build more houses. Well, of course 0:18:17.480 --> 0:18:21.840 we know they've completely failed on that. Now onto global politics. 0:18:21.880 --> 0:18:26.160 Now everyone's sort of paying attention to Lebanon and Israel. 0:18:26.240 --> 0:18:29.280 As the war is moving further north israels Is. They're 0:18:29.280 --> 0:18:33.480 now preparing for a ground invasion. Penny Wog spoke on 0:18:33.560 --> 0:18:36.920 this today. It's basically what we've come to expect from 0:18:36.960 --> 0:18:39.440 Penny Wong. She's calling for a cease fire. A number 0:18:39.480 --> 0:18:41.960 of other nations, the US as well, are calling for 0:18:42.000 --> 0:18:45.760 an immediate twenty one day cease fire. Here was Pennywong today. 0:18:46.960 --> 0:18:51.240 We condemn his Bela's continued to attack on Israel, but 0:18:51.440 --> 0:18:54.479 I do say again Lebanese civilians cannot be made to 0:18:54.520 --> 0:18:58.000 pay the price of defeating Hisbellah. The global community has 0:18:58.040 --> 0:19:01.640 made clear that this destructive or must stop what has 0:19:01.680 --> 0:19:04.800 happened in recent days only makes an immediate cease fire 0:19:05.000 --> 0:19:08.520 in Gaza even more urgent. You would have heard me 0:19:08.560 --> 0:19:11.119 say this before, and I say it again. Lebanon cannot 0:19:11.200 --> 0:19:13.480 become the next Gaza. 0:19:14.080 --> 0:19:15.720 Michael, where do you think we're heading here? 0:19:20.600 --> 0:19:22.600 Well, first of all, let me say, you know, shame 0:19:22.680 --> 0:19:26.800 on you, Penny Wong. You met the Prime Minister of Palestine, 0:19:27.480 --> 0:19:31.679 which is the West Bank. Basically, the prime minister that 0:19:31.720 --> 0:19:35.120 Penny met wasn't elected, by the way, He was appointed 0:19:35.160 --> 0:19:39.520 by the Palestinian authority, who themselves haven't faced an election 0:19:39.720 --> 0:19:43.359 since two thousand and five. So an unelected prime minister 0:19:44.040 --> 0:19:47.560 appointed by a government that my friend Michael Danby likes 0:19:47.600 --> 0:19:50.080 to say, is nineteen years into a four year term, 0:19:50.480 --> 0:19:53.640 and it's twenty years on January nine next year. Since 0:19:53.720 --> 0:19:56.919 mackmurder Bass was appointed. So these are the people she's meeting, 0:19:57.520 --> 0:20:02.000 and she doesn't meet the president and of Iran, who 0:20:02.080 --> 0:20:04.879 was elected, by the way, in a rigged election. Nevertheless, 0:20:05.400 --> 0:20:09.679 she doesn't meet him and say, why don't you stop 0:20:09.800 --> 0:20:14.200 funding the hooties and Hesblah and Hamas. Where's the meeting 0:20:14.240 --> 0:20:16.720 with the president of Iran. He was there in the building, 0:20:17.320 --> 0:20:20.560 he gave a speech. Why doesn't she meet the president 0:20:20.760 --> 0:20:26.199 of Lebanon and call on the Lebanese president and a 0:20:26.240 --> 0:20:30.959 prime minister and parliament to expel Hesblah, to call on 0:20:31.000 --> 0:20:36.240 hes Balah fighters to leave Lebanon. Why isn't she doing that? No, No, 0:20:36.400 --> 0:20:39.600 it's usually all about Israel. It's winkwink about Israel. Look, 0:20:39.760 --> 0:20:42.440 this government are not supportive of the Jewish community. They're 0:20:42.440 --> 0:20:45.320 not supportive of Israel, and Israel have to take the 0:20:45.400 --> 0:20:47.840 law into their own hands, self defense, in their own hands. 0:20:48.280 --> 0:20:51.119 They've decided that after years and years of bombing of 0:20:51.840 --> 0:20:54.120 the northern parts of Israel, I was near the Lebanese 0:20:54.119 --> 0:21:00.240 border in January, just two kilometers from the border, you 0:21:00.280 --> 0:21:02.679 know the kubbutzos that had been empty of people because 0:21:02.680 --> 0:21:05.720 it was unsafe. Tens of thousands of people had to 0:21:05.760 --> 0:21:08.600 leave northern Israel because of the threat of haz Bala. 0:21:09.000 --> 0:21:11.240 Israel have had enough, They've drawn a line in the sand, 0:21:11.840 --> 0:21:13.639 and I think where it's heading. I think they're going 0:21:13.680 --> 0:21:18.280 to continue to bomb hez Bala positions. And whether there'll 0:21:18.280 --> 0:21:20.359 be a ground evasion, I'm not so sure about that. 0:21:20.440 --> 0:21:22.160 Maybe there will be, maybe there won't be. But they're 0:21:22.200 --> 0:21:25.920 achieving a hell of a lot through through their bombing campaign, 0:21:26.520 --> 0:21:29.760 and sadly, innocent Lebanese are getting killed, and which is 0:21:29.760 --> 0:21:32.080 why the Lebanese government should be calling on haz Bla 0:21:32.200 --> 0:21:37.600 to leave, to leave Lebanon and go to Iran where 0:21:37.600 --> 0:21:38.440