Part 7/8:
He strongly opposed this plan, criticizing the Greens for their political stance and labeling some of their policies as damaging to Australia's social fabric. Specifically, McCormack warned about the implications of taxing unrealized capital gains on assets like farmland tied up in superannuation accounts.
He expressed concern that such measures would disproportionately impact regional Australians, including farmers, who often rely on assets like land for income but are asset-rich and cash-poor. McCormack argued that taxing unrealized gains would impose unfair tax burdens on hardworking Australians, especially those struggling to make ends meet.