During an interview on The Project last night multi-millionaire and former Australian of the Year Dick Smith fired up at host Waleed Aly, brazenly telling Aly that he “doesn’t understand basic economics”.
Dick Smith appeared on the program last night after publicly throwing his support behind Pauline Hanson‘s One Nation party, saying he is aligned with her tough stance on immigration and other policy positions.
Having cleared up he didn’t support Hanson’s take on Muslims being banned from immigrating to Australia, Smith said he wanted overall population growth to be limited.
Aly responded by pointing out that Australia’s population is ageing, with a growing level of retirees being supported by a lower proportion of young workers.
“You can come up with an immigration program that means a whole lot of young people would have to work with taxes at huge levels to support the retiring…otherwise you would have to level with us now and tell us how much tax you want young working people to pay so that the ageing population can have a retirement?” said Aly.
Smith shot back, telling Aly his statement “was absolute rubbish” and that he “doesn’t understand basic economics”.