Cooker logic (lack of) on display. Maths is foreign to this cooker
@XEkielsays
XEkielsays, youâre the human equivalent of a participation trophy.
"But 70 per cent have just one property!"
Cool story. That one property is worth more than most peopleâs super house combined. And the 30 per cent with 2 properties? Theyâre the ones hoarding the market while you cheer them on.
âNot disproportionate!â Mate, 80 per cent of negative gearing benefits go to the top 20 per cent. Thatâs not a market thatâs working for âmiddle classâ, thatâs a scam for the rich.
Now go back to your spreadsheet of half-truths and let the adults fix the mess.
#NoisyTrunk #MathIsHard:
Where you fucked up:
Fact: The average investment property in Australia is worth ~$700K (ABS data). If you own one of those your own home, youâre not "middle class", youâre in the top 20% of wealth holders.
Middle class = One home, maybe a super balance. Two properties = asset-rich, not struggling.
Your own (incorrect) stats prove the opposite:
â71.48% own 1 property â But 28.52% own 2 (and 6 properties = 0.89%).
That 28.52% controls a disproportionate share of rental stock (because 1 person with 6 properties = 6x the influence of a 1-property investor).
Example: If 100 investors own 200 properties, the 28% with 2 properties likely own ~50% of those 200. Thatâs the concentration of wealth.
WHAT YOU MISSED:
Wealth â income. A tradie with 1 investment property might earn $100K/year, but their net wealth (home investment property) puts them ahead of 80% of Australians.
Tax policy isnât about "number of investors"âitâs about who benefits most from the system.
Negative gearing: 80% of the tax benefit goes to the top 20% of income earners (Grattan Institute).
CGT discount: 70% of the benefit goes to the top 10% (ATO data).
His 70% stat is irrelevant because the real issue is the 30% who dominate the market.
Investors (even "middle class" ones) compete with first-home buyers â driving up prices.
Negative gearing CGT discounts distort the market by: Encouraging speculation (buy now, lose money on rent, win on capital gains).
Favouring existing property over new builds (which is why the budget restricts negative gearing to new homes).
Result: Young Australians are locked out while investors (even "small" ones) get tax breaks.
Now, fuck off back to bed and have a jostle with "the hand maiden"