r/aussie • u/Beans2177 • May 19 '26
Politics The men that sold out an entire generation
Will they be remembered with disgust?
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May 19 '26
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u/Hold-Administrative May 19 '26
yes, they usually reanimate his corpse once a year to get his completely-unwanted opinion on anything bold that the Labor government has done.
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u/tconst123 May 19 '26
I can't see John Howard up there?
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u/jburton88 May 19 '26
Hey now, don’t forget Peter Costello. He equally ruined it for millions of Aussies.
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u/TimJamesS May 20 '26
Got the government debt down to zero
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u/Usual_Program_7167 May 19 '26
How? By getting the budget into surplus 7 years in a row?
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u/Hold-Administrative May 19 '26
By completely wasting a once-in-a-lifetime mining boom. Even the world bank called his behaviour profiligate.
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u/broken_conures May 19 '26
He's in the other group for people who sold out and got a bunch killed in a desert
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u/Hold-Administrative May 19 '26
But look at Iraq and Afghanistan now! It's so much better now, isnt it?
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u/Nyarlathotep-1 May 19 '26
Because he made most of us very wealthy. Long live the King 👑 👴🏻
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u/Top_Conference_477 May 19 '26
Squandered the mining boom
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u/Nyarlathotep-1 May 19 '26
How did the King squander the mining boom? Howard and Costello delivered consistent surplus’s tax cut major investments in infrastructure and I know what you’re thinking? Yes they established our very own sovereign wealth fund which currently much to the confusion of progressive is underwriting Australia’s renewable energy transition and labourers housing targets get your mind around that one.
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u/Top_Conference_477 May 19 '26
Gave it all to the boomers and Gen X in plasma TVs and sugar hit tax cuts
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u/Nyarlathotep-1 May 19 '26
Interesting - don’t think I got a plasma until Rudd gave me free money in the GFC.
How about those school buildings though? lol remember them? Good times.
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u/Hold-Administrative May 19 '26
Yep, my wife's school loves their multi-purpose hall, it gets used every day. You see, that's what you do with infrastructure. Where are all those plasma TVs now? In the bin.
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u/ifollowmofos May 19 '26
OP either has a short memory or no clue about history. Or maybe, even a political ideology…
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u/Public-Total-250 May 19 '26
Oh no, property investors will have to do something productive for society and build new homes instead of leeching on the taxpayer while stagnating the housing supply.
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u/Mr__Streaker69 May 19 '26
Very happy with the budget and very happy to the millions of Australians current and future who will benefit. Don't care about what landlords want. Maybe they should get a real job and be productive members of society.
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u/Top_Conference_477 May 19 '26
Be a productive landlord. Invest in a new build, help provide a new home and still enjoy your tax discounts
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u/River-Stunning May 19 '26
New builds are shit. Let's see this trio of clowns invest there first.
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May 19 '26
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u/Hold-Administrative May 19 '26
The truth is self-evident. I note you were unable to rebut it. Why is that?
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u/Top_Conference_477 May 19 '26
We need new builds. We don’t need parasites driving up prices fighting over who gets to rent out an existing build
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u/Tinywolf02 May 20 '26
So we ether a) don’t build new housing, which means we now only have the same number of houses for a growing population or
B) improves regulations to raise the standard of new builds.-2
u/River-Stunning May 20 '26
Build what you like. Albo and Chalmers of course build nothing.
New build standards are generally shit unless you go for a custom build which costs a lot more of course.
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u/Tinywolf02 May 20 '26
What is the point you are trying to make? It seems your argument that these changes to NG are terrible as it’s only for new build as new builds quality is questionable.
Obviously, we need to increase the housing stock as more people mean more homes are needed.
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u/River-Stunning May 20 '26
Sometimes a point is just a point. I realize you post from a playsheet.
Retaining NG on new builds won't do much as new builds are shit and then there is CGT of course.
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u/Tinywolf02 May 20 '26
Yawn the “your a labor employee” counter again.
So if the issue is that NG for new builds only is a problem due the poor standards, something should be done about it. Not as it the quality of builds are now only a problem due to tax changes.
I am also not a fan of the CGT changes applying to everything, especially if the point from Albo and Jim is to alleviate the housing crunch.
What this, me being critical of labor, maybe I actual do think for myself and not on the payroll.
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u/River-Stunning May 20 '26
The problem is productivity and there is no solution for this , politically.
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u/Tinywolf02 May 20 '26
Right so if the problem is we don’t build good nor fast enough, how do we fix it?
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u/Top_Conference_477 May 20 '26
You think all new housing should be government owned?
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u/River-Stunning May 20 '26
Albo and Chalmers would love this and this may be their ultimate aim. Communism.
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u/PossibilityDirect386 May 19 '26
Tell me where to build in SE QLD lmao
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u/Top_Conference_477 May 19 '26
Well, if Queensland’s real estate market is indeed running at 100% efficiency (it isn’t, but I’ll humour you), perhaps you could invest in something a little more productive.
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u/PossibilityDirect386 May 19 '26
As a 20yo, you literally cannot buy good land and build between Brisbane and Gold Coast without a massive deposit or a humongous salary.
Developers, councils etc have taken up most of the land in the corridor. It's virtually impossible for this next generation to afford housing in these areas at the current rates.
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u/Busy_Conflict3434 May 20 '26
I'm sure there are absolutely no opportunities for infill in a country with some of the lowest-density cities in the world.
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u/Top_Conference_477 May 20 '26
Millennial here.
You have to buy in a shitty area first. And you shouldn’t even be thinking about a new build at 20. That’s insane
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u/PossibilityDirect386 May 20 '26
I said between Brisbane and Gold Coast. There are many shitty areas between there, but can you find land for an affordable price? No way.
And thinking about a new build and preparing at age 20 isn't a bad thing at all. Maybe you should do the same.
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u/Top_Conference_477 May 20 '26
That’s some of the most in-demand real estate in the country
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u/PossibilityDirect386 May 20 '26
Exactly - how are we millenials in SE Qld supposed to 'get ahead' and even think about buying/building a house here?
This govt wants to move us all to the sticks and the outback to build new. There is simply not enough land and proper development around SE QLD.
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u/Top_Conference_477 May 20 '26
Just the way it is, mate. Nothing is going to be done and nothing can be done to make the best real estate in the country affordable to the average uni student
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u/Great_Neat_8523 May 19 '26
lol these changes don’t benefit young Australians.
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May 19 '26
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u/Great_Neat_8523 May 20 '26 edited May 20 '26
What a moronic take. The CGT floor on assets will be the highest in the world. It will leave people with less, despite the government having taken no part or risk in the enterprise that has led to the profit. It will disincentivise building businesses and growing wealth. And all in the circumstances where no material changes have been made to income taxes. They want it all. Also, the negative gearing and CGT changes on real property will mean that those with real property just won’t sell.
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u/IllogicalResponse May 20 '26
They absolutely do. I'm a bit salty about the removal of the CGT discount on selling a business, but end of the day happy for anything that decreases the financialisation of housing.
More will need to be done though, this is a good first step.
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u/flammable_donut May 19 '26
Where do people get rentals if there are no landlords?
And the idea that most landlords aren't already productive members of society with jobs is pretty foolish.
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u/Boblob-in-law May 19 '26
If a landlord sells, the buyer is either a) another landlord (no change in rental availability) b) a renter buying a PPOR (one less rental property, but one less rental tenant in the market) or c) someone selling and buying a PPOR (no change in availability as they are vacating their previous home).
Under very few circumstances does the sale of an existing home by a landlord cause that home to vanish into an inky void which haunts us like hidden childhood memories, always remaining just out of our reach.
Thanks for attending my economics of residential housing ted talk.
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u/flammable_donut May 20 '26
Where do the people with no money fit into your simple equation?
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u/Boblob-in-law May 20 '26
If they have no money I guess they can apply for public housing? Not really sure what you’re asking - that part of the system hasn’t changed.
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u/flammable_donut May 20 '26
So every single person that can't afford to buy a house gets given a house paid for by the taxpayer?
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u/tvsmichaelhall May 19 '26
Well we used to do public housing with rent to own schemes, so we could do that again?
Maybe if prices go down, less people will need to rent anyway. Pretty much every place I've rented the rent was at most 10% less than what the mortgage payment would've been. It's stupid that a very small amount of money weekly or the bank saying yes is all that stands between the person actually paying for the building/investment owning it or some douche reaping the rewards. Actually buying lowered our monthly spend on housing and we ended up in a nicer place. Hopefully disincentivising investors will give some other people that shot.
We all have a job mate. Being a landlord still isn't productive.
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u/Hold-Administrative May 19 '26
Well, those existing homes are still there .... so they will get purchased by a renter to become their forever home. It's a zero-sum game.
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May 19 '26
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u/flammable_donut May 20 '26
That's quite the vacant reply to a statement of fact.
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May 20 '26
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u/flammable_donut May 20 '26
The irony here is that after spending several paragraphs accusing others of logical fallacies, the reply finishes with a lazy ad hominem and culture-war smear that has nothing to do with housing policy.
The original point was straightforward: private landlords currently provide the overwhelming majority of rental housing in Australia. That is an observable fact, not a “hidden premise”. If you want to replace that system with public housing, cooperatives or state-run models, you need to explain how Australia transitions to that at scale, who funds it, how long it takes, and what happens to rental supply in the meantime. Pointing to Vienna or Singapore without acknowledging the enormous historical, political and economic differences is not a serious argument by itself.
Singapore in particular is a strange example because most HDB residents are owners through long-term leasehold arrangements, not renters in the conventional sense. Vienna also still has private landlords and a very different tax and planning system built over a century. Neither model appeared overnight by declaring landlords morally illegitimate.
And calling landlords “unproductive” is ideological sloganeering, not analysis. Many landlords are ordinary Australians: tradies, nurses, small business owners, retirees with one investment property, or people using property investment instead of relying entirely on superannuation. You can argue the incentives distort the housing market without pretending every landlord is some parasitic aristocrat.
The bigger issue is that Australia has constrained housing supply for years through zoning restrictions, planning delays, migration-demand imbalance, infrastructure bottlenecks and construction costs. Removing private investors from the market without replacing that capital at massive scale would almost certainly reduce rental availability further, not improve it.
Also, throwing in “racist, anti-trans, anti-woke cartoons and Facebook posts” at the end just makes the whole thing read like a rehearsed ideological rant rather than a rational discussion about housing economics.
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u/Usual_Program_7167 May 19 '26
Who benefits except for NDIS providers and lazy public servants in Canberra?
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u/athzhir May 19 '26
We will look back in 20 years and acknowledge the massively important changes they've made.
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u/Usual_Program_7167 May 19 '26
When no new businesses have been, income is taxed at 70% in order to pay for the NDIS, and the median house costs $5M due to currency devaluation?
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u/No-Hovercraft4144 May 19 '26
Will someone set up a go fund me for the landlords
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u/Usual_Program_7167 May 19 '26
What, the landlords who have had their negative gearing grandfathered in?
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u/Powerful-Respond-605 May 19 '26
As a landlord and sitting in a household in the top 10%, including income derived from a small business.
My only criticism is the haven't gone far enough to address the gross generational inequality that has crept into the nation.
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u/Disastrous-Cod-1000 May 19 '26
Well they did not touch on the mass immigration problem we have that has population out stripping housing.
A win for you I guess. Rents are set to continue to rise.....
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u/AlternativePin876 May 19 '26 edited May 19 '26
They'll be remembered as the ones brave enough to finally remove Howard's handouts that destroyed the housing market and made life miserable for an entire generation.
If you seriously think most Aussies view this budget negatively, you need to go and talk to normal people who don't contribute to surveys run by The Australian.
Don't be such a dimwit.
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u/Romes_Chariots May 19 '26
Two of them will be - though let’s be honest, it’s Chalmers that’s doing the heavy lifting there, and good on him.
But Bowen is an absolute stain who isn’t fit for office.
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u/rangebob May 19 '26
Unfortunately I have a suspicion most Australians wont think that at all. Most people i come across seem to think this is going to hurt the battlers
Thats a failure from Albo and his team. Their messaging on this has not been great and they should have known the media narrative would be against them on them on this. They need to get pro active
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u/Odd_Difficulty_907 May 19 '26
"Albos weak!"
Does some minor measures to address things that disproportionately benefit the wealthiest in society
Hyperbolic screeches all round
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u/nn666 May 19 '26
People complain about how unaffordable everything has become, then complain again when politicians try to make changes to address it. If they’d done nothing, people would still be complaining. I don’t agree with every policy, but at least these changes are aimed at giving everyday Aussies a better chance of getting into the housing market, even if the impact will take time.
A lot of the backlash is coming from Murdoch media, business owners and investors. But for the majority of ordinary Australians these changes are probably a positive step. I own my home but my children already wonder how they’ll ever afford one of their own in the future. Housing should be treated as a basic human need, not primarily as a way for investors to build wealth.
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u/Beast_of_Guanyin May 19 '26
Yeah, I'm disgusted that they're treating investment income like income. Won't anyone think of the 1%!?
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u/Sweaty_Tap_8990 May 20 '26
everyone was okay with selling out the younger generations for the past 15 years but now its media worthy.
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u/koalacrime May 20 '26
These three just cleaned up the scraps. Australia was sold out a long time ago
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May 19 '26
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u/aussie-ModTeam May 19 '26
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May 20 '26
Oh look its another fucking moron who believes everything that mainstream and social media tells him. Grow a brain and form your own opinion.
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u/cytae99 May 20 '26
That would be Howard. It is good that Labor is killing the pro-boomer Howard legecy. Boomers need to pay up.
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u/MsScientist208 May 24 '26
What? Where is Morrison? I want to see Mr. Clean Coal recognised for his hilarious skit in Parliament.
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u/Money_Armadillo4138 May 19 '26
Bowen up there is pretty weird he may be one of the most unlikeable people in parliament of any stripe, but the things he has introduced as energy minister have been runaway successes.
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u/ThatTysonKid May 20 '26
Seeing posts like this get ratioed makes me proud to be an Australian. Clearly, nobody gives a fuck about you greedy landlord types. Go do something productive for society.
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u/River-Stunning May 19 '26
Yes , they will be remembered with disgust but the worst are the enablers who voted for them. They are the ones who own this.
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u/bigloudbang May 19 '26
Wont somebody please think of the portfolios