FET #9: Do expensive houses make us all rich?
A new Credit Suisse report says so. We discuss the many issues with this analysis, including ignoring the value of free public services. Also, the barney over Queensland's new land tax changes.
We also take a deeper look at the issues with a new Credit Suisse report that is getting headlines claiming that Australians are the richest people in the world because of our expensive houses. One of the big issues with such reports is the way certain assets are counted by others are not.
In the barney of the week, we look at how New South Wales has refused to cooperate with Queensland’s new land tax laws. Note that the news today (after recording) is that the Queensland government has reversed these announced changes.
We also talk about effective marginal tax rates, a pet interest of mine.
Theme music: Happy Swing by Serge Quadrado Music under Creative Commons Licence CC BY-NC 4.0
Please leave a comment with your ideas for future podcast conversations and Substack posts.