Super media panic over taxing the rich | Media Watch

00:00 - Super brawl
A move to double concessional tax rates on superannuation balances over $3 million unleashes panic, hard luck stories and ridicule.
7:12 - Triggered shock jocks
A fake Albanese tweet about ‘protecting’ paedophiles is amplified by 2SM hosts and talkback callers. But the joke is on them.
10:46 - ABC’s Veritas correction
ABC correct a February news story on US based gotcha outfit Project Veritas and its viral video about Pfizer’s COVID vaccine.
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[@billybeads3328]

Considering Rupert Murdoch owns 69% of Australian media you can guess where all the NEGATIVE BS comes from

[@heidithesausage]

Just ask Malcolm and Julia what happens when Murdoch media decides it doesn’t like something right 😬

[@PiDsPagePrototypes]

​@@heidithesausage What was it, seven?, days after a visit by Rupert and him finding Turnbull wasn't owned by News Limited, for the Liberals to shaft their leader and put up the one Rupert approved of...

[@Jason-gj1pu]

Old people and ice heads? Do I win $50 of free fuel?

[@tracesprite6078]

His message to everyone is "Get Foxed!"

[@BenLiuChungHin]

What happened to Rudd's wanting on the inqury into Murdoch ownership etc?

[@iAmCyberwaste]

WON'T SOMEONE PLEASE THINK OF THE MILLIONAIRES?!

[@CorkmANns]

Please guys, please. Think of the people that may not be able to go for their quarter annually hawaii trip.

[@electricAB]

😂🤣😂

[@themoviehobbit355]

😂 haha

[@creeib]

Wealthy people have so many ways to legally minimise their tax obligations, not available to poorer people.

[@danwhy17]

Imagine going from 3 yachts to only having 2 yachts! Maybe show a little empathy for people doing it tough.

[@stewatparkpark2933]

The tax laws apply to all people equally .

[@RictusHolloweye]

@@stewatparkpark2933 - Yet somehow we have scores of millionaires paying less income tax each year than your average nurse or shop keeper.

[@dangerzone007]

Capital gains tax on the family home is a dumb idea. A much better idea is a land value tax. That's the best way to reduce the out of control property prices.

[@soulsurvivor8293]

​@@stewatparkpark2933 Not quite, even if one were to live a lavish lifestyle the cost's associated with it would be less of a percentage of most of the higher incomes. Allowing those with higher incomes to take exponentially more advantage of deductions and other tax loopholes. For example, using the stageb3 tax cuts: With a meger $25-27,000 Before-Tax Supercontribution someone earning $225k pa could reduce their tax bracket from the 45% $200,001+ to the 30% tax bracket. They may still attract the higher 30% consessional contribution rate, especially for After-tax contributions. However, even the After-Tax Contributions can be released and used as a deduction for the next finacial year. In foingbso can deduct 15% from their consessional contributions tax as well. The duduction would off-set their taxable income for the following year, meaning their income would be the 30% bracket effectively by default. They can even hold off on this for upto 3 years and accumulate 3× the reduction to their taxable income for that year, which could potentially lower their taxable income below the 30% tax braket if they have additional deductions. For the wealthier people it is far easier to pay the 30-45% income tax, depending on deductions, for three years then pay even less for 1-2 years after that. Far easier than People on $200k pa or less, especially those on much less, as most of their income goes to living expenses and/or the increasing repayments for their family home. Superannuation is not ment for the wealthiest 0.5-1% of Australian's to avoid even more tax than they alreasdy do. Especially when the cost in lost revanue will be approximately double the expenditure of the Aged Pension by 2050, half of the cost of lost revenue will be from people with $10 million or more in their Superannuation allone which is significantly less than 0.5% of our population. So spare us all from you're ignorantly reductive & myopic comment on this subject, as it contributes less than nothing to the discussion by detracting from the core issues in order to even point out utterly devoid of comprehension such a comment demonstrates.

[@HarryMollyNut]

God freakin Bless this program, it brings my blood pressure down from the unhinged hysteria of Rupert Murdochs cartel.

[@heidithesausage]

100 agree

[@johnhoward7875]

That's a shame I was hoping you could be a beneficiary of our so called much vaunted health system

[@stevie-ray2020]

@@johnhoward7875 Muppets like those 2SM listeners will be having coronaries & strokes instead!

[@_wallnutz_]

Still waiting for this guy to say sorry about the lab leak theory. He is government funded so yeah...

[@roughhabit6496]

Yes I love my press agents for big government.

[@commemorative]

"I don't think 3 million is a lot of money!" - Generic out of touch journalist. When will they stop pretending to represent us and realise they represent the rich?

[@jasminetyana2426]

3million won't be a lot of money for the Millennials. That's the problem.

[@Pringles2.0]

​@Jasmine Tyana It's literally 3 million in Super if you have that much in super then you obviously have a ton in your savings and cheque acc

[@Jasmine69420]

They know, they're just perfectly willing to lie for money.

[@kevildub]

The 2SM thing is a prime example of how some media outlets aren't really trying to deliver a balanced opinion. They're entertainment; just telling people what they want to hear. Outrage keeps people engaged for longer.

[@bobbuliniusbotulismus7129]

Yep, they didn't even try to check if it was real despite it being obvious over-the-top parody. Just braindead.

[@josephj6521]

I stopped listening to 2SM after Marcus Paul (who wasn’t a Scomo fan) was sacked for a lame reason (although distasteful, the far right hosts have said a lot worse). They lost me. They’re not balanced.

[@heidithesausage]

Exactly. Entertainment or Propaganda? Influenced by who pays the bills. They are getting wealthy by getting paid by the wealthy to pass on their message

[@onarandomnote25]

Also keeps people using their reptilian brain and overrides grey matter activation. Makes it kind of ironic some of the most angriest voices are screaming for people to wake up and use critical thinking haha

[@blueknight07]

I wish someone would've rang in and told them the truth but 2SM only caters to the brainless now

[@asheronwindspear552]

Glad to see some blowback against the media narrative that the proposed changes to superannuation was somehow going to affect the low income earners. I definitely support the proposals and I don't think that is ever be in the position to have $3 million dollars in my super.

[@RictusHolloweye]

If I had $3M or over in my super I'd be too busy being grateful to get upset over paying some tax on the profits.

[@soulsurvivor8293]

It doesn't even affect upper middle or the lower-middle High income earners. In order to fall below the $3 million threshold and have "only" $2.9 million in your Superannuation fund, you need to be; 1. Earning $200k per annum from the age of 21-67. 2. Get the Employee SGC of 12%. 3. Contribute an additional $30k* of your own money ever year. 4. Get an average return of 7.5% per annum. *$27,500 pa in Before-Tax contributions at the consessional rate of 15% $2,500 pa in After-Tax contributions, off-set by the consessional rate of 15% claimed as Deductions upto having $1.7 million total Superannuation, Taxed at the individuals tax rate of 45% (soon to be 30%^) ^ Stage 3 Tax Cuts If you recieve anything above any of these values you might exceed the threshold, with a heavy emphasis on 'might'. Add to this that people earning $180-200k pa will be recieving considerable benefits from stage 3 tax cuts, now only being taxed at 30% rather than the previous 45%. People within this income range are going to be significantly better off and won't be affected by the Superannuation change at all. Earning $200,001+pa will remain taxed at the 45% rate under the stage 3 cuts. Remmber that these tax cuts are to avoid adding an additional progressive bracket, so this group are still gaining a benefit from these cuts. Additionally, consider that the minimum drawdown on $3 million at 67 is $150k pa, taxfree. Keep in mind that this is well into the 90th percentile bracket at this point, like between the 96th-98th. 99.5% of all Australians wouldn't be affected by this at all. Given how few Australian's Superannuation funds this affects and that those whom it will affect still receives a -15% tax consession from their 45% tax rate, making it 30% instead; It really is a minor alteration to the Superannuation legislation. Honestly, it seem's insane to me that anyone earning $200k pa or less would be upset about this at all.

[@asheronwindspear552]

@@austeritykills5025 and where is that claim backed up by any evidence? Seriously the only people who are saying that they are planning that are from the other side of the political aisle and therefore have an interest in manipulating public opinion against the Labor Party. So unless you can reference someone involved in Labor talking about it I'm just going to assume you're spreading propaganda.

[@DJ-yj1vg]

even the plans to dictate your investment strategy? Forcing industry super funds to invest in NON-profitable ventures such as public housing and green energy due to govt legislation? I certainly wouldn't be happy if I wasn't allowed to earn as much return on investment as possible in my super fund, because the govt thinks it knows better than you do. There's a reason govts need investment in this area, because the free market realises there's no money to be made. In which case, the govt should just use tax money, not investors' money, to further their political cause.

[@peaceleader7315]

They alway get angry with the poor dole bludger but never was the tax bludger and dodgers.. these wealthy elites capitalists need to be tax like they never been taxed before.. hmmmm..

[@andrewsmcintosh]

"I don't think three million dollars is a lot of money". Said nobody ev...

[@Ineddiblehulk]

And anyone who does is telling on themselves about how far removed they are from the reality of keeping a roof over their head and food on the table

[@stewatparkpark2933]

Only buy you decent house in Sydney .

[@thearmchairjournalist566]

@@stewatparkpark2933 who would want to live in Sydney 😂

[@ronaldronz4599]

Maybe not to Beyonce 😂😂🙄

[@shiraz1736]

I still can’t believe the Australian taxpayers didn’t vote for the mining tax all those years ago, massive uppercut. You have to give it to the liberal party and there election funders the mineral council, they did a number on the masses with that one.

[@alonzomosley7]

Yep we an opportunity to have an amazing nest egg for taxpayers like Norway has with its sovereign fund as long Gina Mineheart is getting her fair share

[@heidithesausage]

Same old standard line about “passing the cost on to the consumer” Corruption is the Liberals only policy & Barnaby loves the fossil fuels he’s a loyal employee & their best advocate

[@roughhabit6496]

Sorry, I can’t relate to this begging.

[@ronitknight3078]

Over and over and over..... the more money they have, the more hysterical they get about paying their fair share of taxes.

[@zenvagabond]

They already pay more than everyone else - why should they have more stolen by a communist government who's going to piss it away?

[@_wallnutz_]

Like google that you're watching this on. Being successful you get punished. Welcome to communism.

[@thearmchairjournalist566]

I’m sure the majority of Australian’s plus myself would be very happy to pay a tiny percentage of tax for over $3M in superannuation 😂

[@pepesilvia3776]

To say something like this shows how little understanding of economics you have. To think that maybe the average retirement fund wouldn’t have over 3m dollars in say your children’s lifetime would be naive, considering we are currently living in the largest inflation event since the 70s.💀

[@thearmchairjournalist566]

@@pepesilvia3776 I don’t think you understand my comment 🤣🤣🤣

[@phantomstrider]

It's sad that the media would attack something that could be so beneficial to 99.5% of the Australian people.

[@silverwolf4095]

Where have you been for the last 3 years?

[@jaci_mac23]

Yes...its because the wealthy run the media. It's about protecting themselves. They have no integrity.

[@roughhabit6496]

It’s sadder that government keeps spending more and more and thinks it’s okay to invent elaborate schemes to take the money you’ve worked for.

[@peteo3436]

​@@roughhabit6496 You must have $3m in super. Congratulations.

[@criszis]

@@roughhabit6496 You mean like the liberals pork barreling? Labor trying to fix the national debt is not at fault for creating it.

[@WallyTony]

It's so hard for the mega rich

[@benwilson6145]

My heart bleeds

[@matmann3956]

Said like a true socialist who thinks someone’s holding them back and likes to see others punished for being successful. Who’s holding you back buttercup?

[@philhogan5623]

See this? (Rubs finger & thumb together) This is the world's smallest violin.

[@zenvagabond]

3 million is not the mega rich - it's someone who is smart and successful. You have no right to steal their hard earned. This isn't Cuba.

[@stoopidapples1596]

@@zenvagabond i hope your comment is satire for your own sake

[@addsfour3499]

People just don’t understand that rich people have a much tougher life than everyone else

[@sprintershepherd4359]

lmao I love how dry you made it sound

[@RandomStuff-he7lu]

How can they afford to put food on the table when they've shoved every single cent of their $10m into their super?

[@philipgibbs5751]

....and longer too, so they need more $$$

[@addsfour3499]

@@philipgibbs5751 wow, I hadn’t even thought of that. It’s just so tough for them

[@jemborg]

... they work so hard! 🥺

[@54Mizery]

If the Media was honest they might like to do a story on, "WHY ONLY THE PAYG WAGE EARNERS ARE PAYING THEIR FARE SHARE OF TAX".

[@RictusHolloweye]

It would seem that 2SM radio has primed their audience to believe any old rubbish as long as it's attacking Labor. I used to think the QANON style fables would never fly here in Australia... but I may have overestimated us.

[@dontutchmi]

There are absolutely people in this country who believe, for example, that the recent police shooting was a false flag.

[@timlindsay6363]

You mean, just like Aunty for the last few years have been priming their audience to believe any old rubbish as long as it is attacking Liberals? This isn't Media Watch. It is Paul Barry showing his support for Albo - like showing him talking about the limited impact, but not showing him saying pre-election that there would be no changes to Super. Why didn't PK pull him up on that when he effectively said "No changes to treatment of the principal residence" when he had said that about Super???

[@hurrdurrmurrgurr]

@@timlindsay6363 They're coming for your third yacht Tim, what will you do!?

[@RictusHolloweye]

@@timlindsay6363 - They openly confirmed that information you wanted to hear but you still manage to complain about it not being in video format. On the other hand, in the leadup to the 2013 election the ABC buried an article by a tech expert warning of how disastrous Tony Abbott's plan for the NBN would be, an article that has since been proven spot on. Shall we assume this means the ABC helped the Coalition get elected back then?

[@Spentastic]

@@timlindsay6363 Remember when John Howard said there would be no GST before the 1996 election? Then after he won that election he took his 10% GST policy to the 1998 election, won and then the GST was introduced. Same is going on here so if you had no problem with what Howard did back then you should have no problem with what Albanese is trying to do here

[@josephj6521]

Most of us wouldn’t earn $3m after tax in our working lives let alone save $3m! Pathetic arguments by the majority of the media.

[@robjames6170]

According to the Australian Bureau of Statistics the average weekly wage is $1807.70, thats $94k per year. The vast majority of those people that the Government say this tax won't impact are younger people and those new to super because their current balances will of course be small, if you have 45 years of work life ahead of you on average (without indexation) you'll earn $4.2 million. The impact of this tax, without any indexation will hit many of the young people commencing their work lives now, they may have low balances presently but with ongoing contributions and accumulated growth on their superannuation accounts they'll probably all be hit by this tax, unless they just held their balances in cash perhaps.

[@josephj6521]

@@robjames6170 the median is $65k pa gross (not net). Very few of us will save $3m in our lifetimes into superannuation. By the time inflation catches up and $3m becomes the standard, the tax threshold would increase. Com’on. People earning $30k pa working pay more tax than non-working millionaires with massive superannuation balances.

[@monkeybomb1232]

@@robjames6170 why would the threshold not be changed some point in 40 years time? Is there a law preventing that or are you just being completley irrational?

[@robjames6170]

@@monkeybomb1232 to state the situation as it is (no indexation) is not irrational, it’s fact. But to hope for indexation is just that, hope! I’m not aware of any law preventing it but when the indexation isn’t there from the start future generations (those new entrants now particularly) will have to depend on a governing party in the future bringing it in. It would have been easier to just legislate for indexation now, as is currently applied to outstanding higher education charge debt.

[@monkeybomb1232]

@@robjames6170 why would it be easier to do that nobody knows exactly what the economy is going to look like in 10 years let alone 50.

[@darensavy5014]

Media Watch is the undisputed must-watch show. Absolutely brilliant 💪

[@rogerparker4468]

I watch it from NZ. There's only one journo in NZ worth his salt in TV here. The rest are talking head noddies

[@rogerparker4468]

And if you think your tax system is unfair, try ours. If you so much as earn a dollar, it's taxed. And GST is 15%. Neolib haven. No CGT either. Consider the impact on housing

[@jamo5468]

Geez your life must be pretty miserable.

[@mrjades4764]

It’s the only thing I consistently watch.

[@nottenvironmental6208]

A standard of journalism higher than most in Australia. Thanks team for your efforts, keep going.

[@jedics1]

Albo making this change happen via the vote of the next election is the smartest move Ive seen in politics in a long time and just about ensures him getting re elected :)

[@MrHendo90]

I actually thought the opposite, I think people won't want this

[@seabreezecoffeeroasters7994]

@@MrHendo90 When 1/2 of the top 1% are worse off really? Hardly Labour voters and even then 😆64% already think it is a good idea well over Labours vote!

[@blueknight07]

It will just prove how out of touch the media is, most people are probably gonna back it.

[@MrUnl0rd]

​@@MrHendo90 80,000 people won't want this.

[@FrostyMopar]

​@@MrUnl0rd Every day working aussies who understand the long term implications involved in the fact that this tax isn't indexed by inflation definitely won't want this.

[@markpierce8674]

It’s a Rupert Murdock thing just ignore them

[@y2jeff2]

Great job! Subscribed. I don't watch TV any more and shows like this are among the rare gems that I actually miss.

[@ladybirdtravels]

Funny how quickly LNP forget their own broken promises. Howard: the NEVER EVER GST Abbott: the NO CUTS TO... 'anything' I'm sick of these media dogs not being accountable or producing genuine journalism. Get rid of them all!

[@ladybirdtravels]

@@CyberiusT It would end if people stopped watching or reading their BS. Pipe dream, I know. But gradually thry are becoming irrelevant and might eventually even become completely obsolete. Newspapers have done that to themselves to a degree by having pay walls. New wave journalism exists but it's hard for it to go hard without funding. Yeah you are right - it all comes down to money. 😞

[@robames1293]

YOU FORGOT the children overboard BS in the run up to an election.

[@mytwosense9135]

They all lie to us.

[@travismustchin6537]

This video is a prime example of why mainstream media is dying and losing its credibility at a rate we've never seen before.

[@mikehogan9265]

So right!

[@silverwolf4095]

Easy to forget this is state TV. Very convincing

[@nicktalbot3310]

I still do not understand why there isn't some form of accountability held towards media outlets promoting bogus stories. In the 2SM example, surely the radio announcers regurgitating such obvious rubbish should be fired or at the very least issue a formal apology.

[@robames1293]

They are just following Fox news and Sky news

[@Jason-gj1pu]

The out clause is opinion, the in clause is promotion.

[@skarloeythomas5172]

It's a civil suit goldmine. Not even the US' 1st Amendment allows someone to represent a lie as the truth.

[@grahambaker6664]

I wonder how many of the journalists and commentators opposing the superannuation tax changes declared a conflict of interest and whether the free advertorial space or airtime will be included on their employers' declarations to the AEC?

[@HecTechFPV]

I often see the media pushing these scare publications out and laugh to myself thinking how could anyone be so stupid but then I remember people are really that dumb and they eat it all up.

[@sprintershepherd4359]

yep and the proof they eat it all up is how often the LNP get voted in

[@Jason-gj1pu]

One day you will be old and scared, one nation Clive palmer 2sm and an African carer will be the only contact with the world you have.

[@princemusky]

The rich have a such a big voice thanks to the media

[@robertlove9796]

This coverage by Paul Barry is superlative. Incisive commentary and so well presented by Paul, Very well done. Rob

[@lowellriggsiam]

I really enjoy this show and I wish we had a show like this in America. I believe his show would be a huge hit here.

[@edricaldones9639]

There used to be Reliable Sources with Brian Stelter...

[@alanhilder1883]

I can see Fox News now if media watch went to the US. ( Murdoch is already trying to kill the ABC here, he seems to get more concessions then the ABC already. )

[@sloppynyuszi]

@@edricaldones9639 yeah, that was just FOX bashing 😂😂😂. For this to work in the US, it’s either an online show, or something on PBS. Channel 5 was pretty close to kinda covering this, but Andrew Callahan turned out to be a sex pest 😢. His documentary this country rules is a good view how people get trapped in alternative media and how mainstream media has it’s part to play. I think the closest thing to this is actually the Daily show. It’s still very left leaning and doesn’t call out CNN or MSNBC on their BS, but it kinda does what this show does when it comes to calling out BS

[@heidithesausage]

@@sloppynyuszi very disappointing about Andrew, at least he held himself accountable and seemed genuinely sorry. I’m Aussie but I would rate TYT and the majority report with Sam Seder as the best independent unbiased honest news media channels from the US

[@shayneoneill1506]

@@sloppynyuszi Fox has a shocking record of just making things up though. It would be *weird* if Fox wasnt a regular target of fact checkers because they really do just make things up (and have even said so in court). If your not convinced, go look up an old documentary called "Outfoxed" . Its nearly 20 years old, but Fox have gotten *dramatically worse* since that thing was filmed. Its on KZbin, so should be no probs.

[@PushyPawn]

Won't someone think of the millionaires! 😱

[@creeib]

Some people can afford to spend more money on morning tea, than many people live on.

[@Victimiser9000]

Labor: "Our Policy for the next election will be XYZ" Murdoch Media: "1937 Election promise backflip!!"

[@blueknight07]

The Coalition: "We are backflipping and totally abandoning our manifesto" Murdoch Media: "The Coalition does a genius political move"

[@Oogrilla]

"What's the next target? Taxing expensive homes?" Yes Herald Sun I would like that very much.

[@justbrowsing6327]

Well done John Hewsom for his comments.

[@billhackett6715]

When a couple/ person with $3 Million in super plus $600,000 in shares can arrange their affairs so that they do not pay income tax and actually receive Franking credit rebates higher than the age pension for a pensioner with no money there is something wrong. Why should the wealthy be on negative taxation. Tax free in personal return up to $18,000. Invest $300,000 at 4% in a company. $12,000 plus franking of $5,142 and the refund is $5,142 (from the franking) This is negative taxation and means that the the government gets nothing from Company tax. On top of this $3Million at 4% is $120,000 giving a franking refund of $51,420. Thus a couple with $3 Million in super plus investments of $600,000 can get a refund of $61,714 plus they can get the low income health care card. Poor little rich people. Total assets of $3.6 million and receive more than a pensioner couple with no money. Gee they must find it hard to make ends meet. and they get Capital gains tax free in the super. They can purchase more rental properties with further tax benefits.

[@jasminetyana2426]

Go buy some Australian dividend paying shares from a company that pays franking credits and stop whining. Go join them. It's available to everyone. You only need $500 to start. If people on Centrelink can buy BMWs (and they can), you can get franking credits too. Th problem isn't that they get franking credits. The problem is that you won't go get it too. You only need to save $10 a week for one year to be able to get Franking Credits. Give up smoking, give up beer, give up buying coffee and go get franking credits. The govt should increase the working week to 60 hours so there would be more millionaires to pay taxes. Ever worked 60hours a week? Try it and watch your bank balance grow.

[@user-hi4xd4yt1b]

They should be taxing the rich anyway.

[@stewatparkpark2933]

The " rich " pay the bulk of the tax in Australia . The bottom 50% pay zero net tax .

[@TzarLatok]

@@stewatparkpark2933 " _The " rich " pay the bulk of the tax in Australia . The bottom 50% pay zero net tax ._ " Yeah that's a good thing and the rich should pay even more.

[@Michael-0000]

@@TzarLatok the rich are also mobile and if they aren’t treated well, they will find ways to move with their wealth to more welcoming destinations and away from socialist paradises.

[@TheKrunel]

​@@Michael-0000The rich are welcome to trade their family, friends, and culture for a lower taxing country

[@TzarLatok]

@@Michael-0000 " _the rich are also mobile and if they aren’t treated well, they will find ways to move with their wealth to more welcoming destinations and away from socialist paradises._ " The rich are mobile, that is fine. Intelligent countries make their assets and wealth in the country much less mobile. Leave the country and want to try and take a company with you? Forced to sell it (even better if the employees are given first offer of refusal). I hope you now tell me "That's socialism and it's always bad, waaahhhh".

[@jackherrod2294]

This was excellent, thank you!

[@Zahaqiel]

If John Abernethy doesn't think 3 million is a lot of money, he's welcome to start giving it away to people who don't have that much.

[@kienhwengtai8113]

Depends, if your clients are rich people with lots of houses ... so I guess he doesn't mix with us peasants

[@timoleary8751]

The irony of 2SM telling us one moment that we shouldn't be controlled about speech, yet the next a parody account should be taken down. 🙄

[@henrythe8912]

Are you forgetting the fact that most of these so called media presenters and tycoons have more than 3 million in their super fund thats why they are so upset

[@Repomidnight]

2SM just targeting the growing demographic of “cookers” in this country.

[@robbulmer3460]

A tax on unrealised capital gains.. Yes or No ? Where else in the tax system is this employed ?

[@benjohnstone8692]

Dean Mackin… what a tool

[@Jason-gj1pu]

He's found something else to do 🤣🤣🤣🤣 maybe there is a God after all.

[@keptinkaos6384]

2SM should lose its licence and the PM the right sue its owners for every cent they have

[@djbrak1434]

Imagine if the ABC were quoting parody accounts as factual. The LNP would have a fit.

[@blueknight07]

I'm amazed people take 2SM at its word nowadays. It's the tinfoil hat radio station.

[@Jason-gj1pu]

No it should stop focusing on scaring old hippies and paranoid ice heads into supporting pup ,one nation and the other crazy people who claim they can save us all. And go back to intelligent talk without secret agendas.

[@Jason-gj1pu]

Bill is a secret donor, so they won't sue 2sm 🤣

[@meikahidenori]

I mean taxing the rich is what SHOULD be happening. It means your taxes help improve things so the less fortunate can be brough up to have the same standard of living as you have... then they pay the taxes you do in order to help others. It's sort of how it SHOULD work! The reason it doesn't is because we're too busy keeping the poor - poor and that makes society fall apart faster.

[@horstwestpfahl2459]

Oh please, there's already a tax on family homes.. It's called Land Rates..

[@PattoDan88]

People seem to be very angry in the media about Aussies NOT paying tax on behalf of millionaire super funds. They think it is unfair WE the average taxpayer might not want to pay for their tax concessions. Socialism for the rich is coming to an end.

[@Caleb-vk9xm]

Just tax the one account who needs over 500million in super when you can’t touch it untill you are dead 😅😅

[@jasminetyana2426]

LOL. I know a woman who's father bought her a life insurance policy. He nominated the age of 90 as the age she can get the money. She's p*ssed. 90?????

[@stevenhowe6677]

Never mind taxing the rich, the public should take charge and make the 'rich' directly responsible for their greed.

[@joisagirlsname]

Having to check out claims by Project Veritas is like reading the Design Institutes scientific publications for factual errors.

[@jamaicagrant]

I only discovered Paul Berry last week.....he is the best!!!. He's no BS. I love sarcasm 🤣🤣🤣🤣🤣

[@jameso669]

taxing anyone with over a million dollars more is ok in the majority of australians, if you have more money you should be paying more tax not the people with less. this is overpaid entitled rich screaming poor yet again, this kinda crap has to stop and the goverment is trying to fix it for once so let them. this is a good thing someone has to pay for the lockdown it should be the people who made a profit during the lockdown.

[@squirrelcovers6340]

How horrible it would be to pay your taxes😎

[@michael3088]

France had the right idea with the guillotine, frankly we've not being cracking down enough on the ritch.

[@reibee1972]

People get rich in a country, then don't want to pay their fare share to keep that country going and growing.

[@connorj8050]

Who tf has 3 million in super and doesn't own their own home 😂 wtf

[@duncanwallace7760]

Debt is only bad if its Labour party debt. If it's coalition debt, then its 'responsible' and should be fine.

[@macca2342]

Who is this person that has every single cent in Super and has $3mil plus and doesn't own a home? I bet he or she owns a bakery and refuses to bake cakes for gay weddings?

[@mrbumcraic5046]

The shovels take is gold

[@keepspace5258]

Don’t they realise that less and less people read those crap news papers anyway??

[@debbieanne7962]

I get a small superannuation pension $40000 a year. Yet every year I owe hundreds of dollars to the tax office!

[@georgenecopprimerenecopprimi]

I miss Wayne Swan as our treasurer 😭 such a legend ❤️

[@mytwosense9135]

Legend is an incredible stretch.

[@jackiechild9740]

Media watch is awesome! Thank you!

[@mikehogan9265]

Pravda by the sea!

[@9UaYXxB]

@@mikehogan9265 No, it would be Sky News that wants everyone in blinkers, Mike. But nice attempt at misdirection, ... I'm sure it'd get traction with your friends.

[@jeffreybrewer3775]

Just read that some one has 1/2 a Billion $$. What?? And there are other with a little less. I think any more than 3million should be taxed at the normal rate. Crazy . Cheers Jeff

[@dragoonzen]

Lol, the rich cries more than anyone else...

[@cobar5342]

The rich are adept at avoiding tax. We middle income earners are the ones who pay the most

[@petesmith9472]

The Royal Commission into the activities and behaviour of the Murdoch empire is long, long overdue. Look for the petition and sign up.

[@keviemac]

Thank you, media watch in my essential once a week viewing, its important !

[@themoviehobbit355]

Taxing the rich 😂😂 I’m one of the poor workers out there that just get stuffed over by owner and government I don’t go too pubs more then twice a month now I don’t buy smoko everyday anymore because it’s too expensive I can’t go away on a holiday anymore because fuel is too expensive List can go on and on For someone who is trying too save for a deposit of $50 grand then been told two weeks ago that I actually need to save $70 grand now for a house Looks like I’ll be buying a nice caravan instead of a house , will be ideal soon

[@twistedaus]

3:40 LOL...WTF! He definitely seems like someone who never got to own a nice card, go overseas or have a holiday. What a laugh.

[@richardwhite2730]

This is basically an inheritance tax

[@scruffy74]

Capital gains tax affecting the family home? Shouldn’t that be homes plural?

[@andrewwilliams8413]

Very hard to feel sorry 4 people with over 3mil in super ? I wonder if they've been to the city lately

[@whatswiththenoise]

Rich crying poor

[@Ninjaguiden89]

'Class warfare' is already a thing from the monies classes, so many systems and arguably the state itself already support them while keeping down the less fortunate. This is just the latter striking back in a war that's already ongoing.

[@anthonyjames9150]

So what is it? Veritas bad because they uncover news you or 99% of outlets would never look for? Gee, a multi-billion dollar company that has it's hands all around the world has some secrets? I am truly shocked. Every criticism you had for Veritas I could say about your own outlet or most of our outlets in Australia, except yours has the luxury of being tax funded, so even if you made a mistake, you're not going to go bankrupt.

[@michaelotieno6524]

If you ever feel like the world is going crazy and no one seems to notice. Media wat h is there to remind you that there are normal sensible people in this world.

[@mh017509]

I would respectfully disagree. There are two points here. The first, it is about broken election promise not to mess up with the superannuation system. And the second is it is retrospective, that is worse then the previous point. You can't really change the rule of the game while the game is on, it is not fair or reasonable and creates a sovereign risk. People should be able to rely on the laws of the day without thinking of a future government restrospectively changing them.

[@Amber86queenbee]

I agree with you - it is a huge risk to change the rules people have relied upon and causes distrust in the superannuation system. Why put more $ into super if you do not know if the government of the day will change the goal posts relied upon to make significant financial decisions. There are broader implications then simplistic views on taxing the ‘rich’. I feel like people want to be clapping seals for the party they support instead of questioning the finer details.

[@Tapecutter59]

With all due respect you need to check your 'facts'. 1. It is a proposal that will be taken to the next election, not a 'broken promise'. 2. It is NOT retrospective, no matter how many times Sky News repeats that lie.

[@paulvenn4447]

2SM sounds like Cooker FM on the radio waves

[@mrgray5576]

They're lucky we aren't eating them.

[@pubbets7290]

Won't somebody think of the millionaires??

[@lordcaptain73]

I love the opportunity to watch Vella’s inspiring piece again. 10/10 comedy

[@edwardness7497]

Veritas has enough of a record that even if/when it puts out something shockingly legitimate, it still should be triple checked...

[@dangerzone007]

Yes capital gains tax on the family home is a dumb idea. A much better idea is a land value tax. That's the best way to reduce the out of control property prices.

[@FrostyMopar]

And what if people can't afford to pay it? Force them to sell their home?

[@djbrak1434]

A land tax is simply the best way for property developers to make bigger profits while families living in their family home pay more tax.

[@dangerzone007]

@@FrostyMopar no a land value tax would only be on high value properties.

[@dangerzone007]

@@djbrak1434 not at all. It would reduce the value of expensive properties. The tax should not apply to cheap family properties.

[@FrostyMopar]

@@dangerzone007 i'd like you to explain to me what you think the moral justification is for government making someone pay a tax every year just to keep their home if they purchased that home fair and square?

[@Arcticninja123]

they live above their means by millions of dollars... them losing abit and i mean ABIT, aint gonna ruin their lives.

[@isee9273]

Very good. Thanks! 👏🏽👏🏽👏🏽

[@bensignor1476]

Why does blame fall on Chalmers for not dismissing a policy idea that was invented by the media and likely hasn't even been discussed by the party?

[@peterthomson1961]

Of course the cgt for home ownership should changed by extended the qualifying period from 1 year to 3? The house flippers who renovate and sell should be taxed

[@PiDsPagePrototypes]

Heck, the super tax doesn't even look to be on how much a person has added, but on how much the fund has earned on top of that investment.

[@Jay_Johnson]

I feel like every country needs this paper.

[@crom29a]

Ralph was one of the muppets. I didn't know he was still performing!

[@Jason-gj1pu]

Payment in kind.

[@UTube-gs1yf]

Excellent work Media Watch.

[@garageblitztv3215]

IKEA has made billions out of Australia, yet somehow pays little to no Australian tax … Michael West media has investigated many foreign companies operating in Australia doing the same thing - I wonder why this is not getting media coverage, or why neither political party is going near it … political donations? Jobs for politicians after their political career?

[@Yalbou]

Yeah they will target people with 3 million dollars of super. But what about later? People with 1 million? What about 30 years in the future where because of inflation more people start having 3 million in super?

[@jasminetyana2426]

There's already noise about 1.9million (in line with the transfer balance cap). genX is done in. Millennials are toast.

[@vicgallimore6756]

So, this super. tax will include most of the top earners at the ABC, or like Albo, are they exempt.

[@TzarLatok]

How is Albo exempt?

[@djbrak1434]

I think a lot of long serving politicians with their very generous super schemes will have close to 3 mill by now so will have to pay a little extra tax.

[@andrewmichaelcrook340]

Absolutely 💯 the rich should be made to pay equal amount in taxes

[@bassoskat]

“It’s afraid”.

[@someone6170]

There already is restrictions on Capital Gains Tax and the family home. Only up to 2 hectares of land can be included.

[@aussiegruber86]

People still listen to the media in Australia, i thought most boomers are to old to see