I have always been of the Tory/Republican/Liberal-National party bent, nonetheless, it seems that there is a certain amount of social injustice built into NG schemes. This is now manifested in the large number of people who have no hope of climbing onto the house owning ladder.
http://en.wikipedia.org/wiki/Negative_gearing_(Australia) Negative gearing by property investors reduced personal income tax revenue in Australia by $600 million in the 2001-02 tax year and $3.9 billion in 2004-05.
