Eureka's Week: Super, the bond bubble, property commissions

Last night | Super | Eureka's Week | The bond bubble | Property commissions | Readings & viewings

Dow Jones, down 0.67%
S&P500, down 0.92%
Nasdaq, down 1.29%
Aust. Dollar, US73.8c

Paul Clitheroe

Firstly, thanks for the feedback about my comments last week on the topic of our “silly tax system” and negative gearing. I think a quality debate is needed about how we fund the services we need and want, and I did appreciate the positive comments. But I am also very respectful of those who disagreed with me, and in particular the tone of your comments. It is truly a privilege to live in a democracy where we can have a civilised debate about the merits of things such as tax policy. Those who disagreed with me did so quite reasonably, arguing that negative gearing allows many Australians to create wealth which in turn means they will not need government support – from the taxpayers of the future – to fund their retirement. Thanks also to Professor Bob Lawn of South Australia who I felt made a lot of sense with this comment: “We all ultimately benefit if governments use the tax system effectively to guide sustainable economic growth as well as to provide the revenue for services. So we need more voices taking the bigger picture view and calling out distortions when they occur”.

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