A stunning victory for greed and inter-generational inequality.
Personally I will be buying a few negatively geared houses and getting a share portfolio together to maximise my franking credits.
Might even make a habit to kick a homeless person at least once a week.
'65
Lol. More like one of the greatest victories ever for intergenerational equality
You are old for a lot longer than you are a teenager or early 20's person. As an old person who is retired, you have no capacity to increase your income if a government comes in and removes franking credits. My mum lives on $40k a year, no pension and 10% of her income is in franking credits. She now keeps that, thank God.
The young person has the capacity to make more of their life by working harder and smarter. It's up to them. Before they know it, they will be older and benefiting from the tax cuts the Coalition hopefully will be allowed to bring in.
This is a system that must be there. You must not punish those who have sacrificed their life by studying and working hard to reward those who can't be stuffed and would rather drink and party all the time. Sure, you must have a system that looks after the true underprivileged such as those with disabilities or no chance to get ahead, but not those who have a chance and refuse to take it.