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You will probably find that the majority of high income earners are happy to pay more tax if those tax dollars are being put to good use. That's probably where it breaks down, in how people percieve their dollars are being spent. I am very happy for my tax dollars to go to those less...

Well said. Not to mention the whole idea behind negative gearing was to subsidise the outsourcing of public housing. The government could never afford nor manage a rental market without private landlords, so it's in their best interest to subsidise it, and to keep that subsidy going.