3 MINS AGO! Albanese ERUPTS as Chris Kenny BLASTS Labor Budget Fallout

Added: 2026-05-27

[00:00:06]I don't know about you, but I've found the news cycle over the past week to be therapeutic, kind of reassuring.

[00:00:13]Now, I know most of the news is bad, especially when it comes to politics, the economy, and national affairs, but the point is that people are arcing up about it. People are calling out Labor's appalling budget, their broken promises, their lies, and their deceit.

[00:00:29]I'd like to say I predicted this last week, but in truth, I made this assessment more in hope than confidence.

[00:00:37]Surely it has gone too far. Surely now it will face a public backlash, because the facts are so blatant, the breach of trust so great.

[00:00:49]>> [snorts] >> As it turns out, it's as if the budget has been the trigger for a lot of people to finally wake up to what a fraudulent outfit the Albanese Labor government really has been all along.

[00:01:01]And even the in the world of social media, normally dominated by the woke, the left, the superficial, and the economically illiterate, well, even there the Albanese government's incompetence and betrayal is dominating.

[00:01:16]Especially the meme about higher taxes meaning Albanese and his government want to own nearly half of everything anyone generates.

[00:01:27]Sweet, I just passed go and get 200 bucks.

[00:01:29]>> Woah, hold there, buddy. This is Australian Monopoly. 50% of your income is taxed. Are you serious?

[00:01:35]>> [music] >> I'll buy that property. Okay, that'll be 2.5 million dollars. What? It's Old Kent Road in Mount Druitt. It's supposed to be the cheapest properties in the game.

[00:01:46]>> It's the Australian housing market, mate. Nothing's cheap.

[00:01:50]>> [music] [music] >> Community Chest. The government's brought in 500,000 new immigrants. You have lost your job and your rent increased. Do not pass go. So, they're making it easier for young people to get a house by making it more expensive for young people to own a house.

[00:02:09]>> Jackson, this doesn't sound as awesome as it did before. When I spoke to Treasurer Jim Chalmers, he said, and I quote, Yep, guys, let's get one thing straight.

[00:02:18]You're never going to own a home, that's for sure, but it's about the vibe, okay?

[00:02:24]Yeah, it's the vibe, all right. Pretty funny stuff and pretty depressing because it's true.

[00:02:30]Albo has tried to laugh it all off.

[00:02:33]I think some of them are very flattering and I thank them for picking very nice photos of me and I I thank them for that.

[00:02:43]The truth is, of course, that the Prime Minister is getting itchy and scratchy.

[00:02:46]He's not used to pushy questions from the media pack and he's not comfortable talking about the economy.

[00:02:53]Labor are always high taxing and this is the highest taxing government in our nation's history. But, the capital gains tax changes, removing the 50% discount once you hold onto an asset for more than a year, well, that means this government is sticking its hand out to take more and more of whatever Australians create.

[00:03:14]Opposition leader Angus Taylor is suddenly everywhere, taking it to Labor.

[00:03:18]On his open mic session with Paul Murray here on Sky last night, he pretty much summed it up.

[00:03:25]The scariest thing about this government is that when they start running out of money because they're spending too much, they come after yours.

[00:03:33]Albanese's attempt to justify his tax grab just underline how out of touch he is.

[00:03:39]What we're doing is simply moving to a real gain system. So, it only impacts when gains are made, capital gains. It's not uh when the normal uh course of business occurs.

[00:03:55]Really? He thinks that because he's imposing heavier taxes after people sell the businesses, it doesn't really matter.

[00:04:06]Doesn't he understand that's what drives so many people in small and medium businesses? Building that value so they can sell it at the end and make some money, sacrificing their pay, their time, and their effort all the way for year upon year in pursuit of that exact outcome.

[00:04:27]But now Albanese and Labor want to cash in on that work.

[00:04:31]Other people's work.

[00:04:33]And what does he think this will do to the value of those businesses?

[00:04:38]And won't it increase the incentive for people to invest overseas instead or take their businesses where there is no capital gains tax? Start them in Singapore or New Zealand or shift them there.

[00:04:50]Albanese's treasurer has no idea either.

[00:04:53]The budget was about housing. An important part about about that is making the tax system fairer for people, uh making it easier for Australians, particularly young Australians, to get a toehold in the market.

[00:05:06]It's all about housing?

[00:05:09]So the question has to be how does increasing the tax on the capital gains made from selling a small business increase housing supply?

[00:05:18]How does increasing the tax paid on the gains made when someone sells their share portfolio increase housing supply?

[00:05:27]How does increasing the tax paid when someone sells their startup company increase the housing supply?

[00:05:36]It's all just a tax grab.

[00:05:38]And for that matter, how does increasing the taxes paid on housing investments increase housing supply?

[00:05:45]It is all a nonsense of course, economically absurd and politically obtuse.

[00:05:53]Albo and Chalmers wanted to con Australians into thinking that labor was hitting rich baby boomers to help young people buy a house.

[00:06:02]But all they're doing is hitting the whole country, making it even tougher for young people who are hoping to buy a house.

[00:06:10]It's the same old problem with socialists as Maggie Thatcher used to say, they eventually run out of other people's money. Albanese goes crazy as Chris Kenny blasts labor budget fallout.

[00:06:23]Good day Australia and welcome back to Australia identity, the channel that keeps the pressure on so camera actually feels it.

[00:06:31]Now, Chris Kenny just dropped a bombshell take on labor's budget fallout and the internet is absolutely losing its mind over it.

[00:06:39]Albanese wanted applause, instead he got memes. Brutal, absolutely brutal.

[00:06:46]New here? Subscribe immediately and smash that notification bell because this story is moving fast and you do not want to get left behind.

[00:06:55]So, here is the situation.

[00:06:58]Kenny is calling the federal budget the trigger, the moment everyday Australians finally woke up to what this government has been doing.

[00:07:05]Not a gentle alarm clock mind you, more like a fog horn at 3:00 in the morning.

[00:07:10]People are awake now and they are not happy.

[00:07:14]And here is where it gets spicy.

[00:07:16]Kenny highlighted that labor's incompetence and betrayal, his words not ours, is absolutely dominating social media right now.

[00:07:24]The memes are writing themselves.

[00:07:27]The one doing the rounds, higher [snorts] taxes meaning Albanese and his government want to own nearly half of everything anyone generates.

[00:07:35]Think about that for a second. You work, you build, you hustle and the government's hand is already in your pocket before you even get to enjoy it.

[00:07:44]It is like ordering a pizza, watching it arrive at your door, and someone immediately takes four slices before you have even opened the box.

[00:07:52]That is the Albanese economic experience right now.

[00:07:56]And the political damage is real.

[00:07:58]When your budget becomes a meme, you have not just lost the economic argument, you have lost a cultural one, too.

[00:08:05]Kenny nailed it. This is not just a policy failure. It is a credibility collapse happening in real time, one viral post at a time.

[00:08:14]Australia Identity will keep calling it out every single time.

[00:08:19]Thanks so much for watching, legends. We genuinely appreciate every one of you.