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COMMENT: Marty, you’re 100% spot on about governments solely ever being able to mendacity and mismanaging cash and elevating taxes.
The Australian Labor celebration that ran on a mandate to not change superannuation are actually proposing to vary superannuation.
Their plan is the abolish tax advantages for accounts with balances above $3M, utilizing the standard argument of focusing on solely the wealthy.
That’s all the time the promoting pitch isn’t it? Solely the wealthy and naturally the bulk take the bait.
I’ve desperately tried to tell those who it’s NEVER simply the wealthy that re impacted. I’ve cannot for the. lifetime of me get individuals to know that the so referred to as wealthy, shall be required to promote property to fulfill tax commitments and have much less cash to purchase property into the longer term, and that, that in flip will impression asset costs and thus have an effect on everybody. Wealthy and poor.
After which there’s the apparent. Thresholds by no means stay the place they start and are all the time lowered.
Authorities is on the hunt for cash in each nation.
Cheers
AQ
REPLY: That’s the downside. Most individuals don’t need to consider that the federal government solely appears to be like out for its personal energy. It’s so vital to ban profession politicians irrespective of which course they lean. For ultimately, they may all the time lean in their very own favor.
Maybe you would possibly remind them of the “Luxurious Tax” that the gross sales pitch was they had been going to tax their Ferarries, Fur Coats, & their French Wines. I used to be there in Australia again then. Possibly I noticed two Ferraries as a result of they had been already 100% taxed to import. Some maybe wore a fur coat down in Melbin, and no person ever served me French wine – its was all the time Australian. Folks cheered then too – get these evil wealthy individuals. Then they awoke and ALL electrical merchandise had been abruptly a luxurious.
The majority of all taxes is all the time from the widespread individuals just because we outnumber the billionaires. There are lower than 500 such individuals within the USA. Confiscate all their wealth and you’ll not steadiness the finances even for one yr.
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