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Negative Gearing "not killing Gen Y fast enough"

SENIOR economists have criticised current negative gearing legislation for not doing enough to cripple younger generations.

Negative gearing, originally an elaborate April Fool's joke by economists, has failed to meet expectations in giving older generations a long-term capacity for remaining superior to their descendants

Recent Queensland Institute data shows that while Gen Y and Gen X are more likely than ever to miss out on home ownership, the decline in living standard refuses to match the stories told by those who lived through the Great Depression.

University of Ipswich Chair of Generational Studies Earl Ingus said the data showed "a lack of political will in the skewering of young people."

"Despite perfect economic conditions, projections for the denial of necessities to those born after the baby-boom era remain stubbornly flat.

"More needs to be done, and not just in ensuring those coming of age in the last thirty years are never able to own their own shelter.

"Legislators need to look at programs for restricting the availability of food and water or Baby Boomers may lose their spot as the greatest generation of all time."

The QI Negative Gearing Report called on the Productivity Commission to investigate the use of Manus Island in dealing with generational economics.

Report author Cain Theckids said the detention centers would be "better placed to maintain the current economic outlook for young people than simply letting them operate freely in the market."

"Subsidies for those already in the market must be increased while barriers to entry, preferably concrete, should be reinforced in the next budget.

"The complex, reinforcing spiral of capital ownership in Australia is the only fuel left in the economy's tanks after the mining industry's death last season."

Notice:

Several young people have reported seeing a glowing cloud approaching the CBD. All hail the glowing cloud.

Frisky Business is a satire column. It is not real.

Topics:  gen y kieran salsone negative gearing opinion satire



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