There has been a viral question racing around social media lately, which has become known as the “red/blue button dilemma”.

The thought experiment involves people being asked a variation of a question:

Everyone on Earth takes a private vote by pressing a red or blue button. If more than 50 per cent of people press the blue button, everyone survives. If less than 50 per cent of people press the blue button, only people who pressed the red button survive. Which button would you press?

Everyone who presses the red button is guaranteed to survive in the second scenario, but pressing the blue button involves faith that enough people will do the same.

In short – which are you putting a primacy on? Individuals or the collective? Would you stake your life on people caring about more than themselves?

The response to the overdue structural changes to the housing tax concessions announced in Tuesday’s federal budget seems a real-world red/blue button question.

The number of people jumping to ‘I’m screwed’ because they’ll have to pay slightly more tax on any potential sale, based on any gain – the profit – they made on their purchase, is as individualistic as you can get.

Anyone who currently owns an investment........

© The New Daily