I am quite surprised at the enthusiasm here for such comments ...
To suggest that the government allowing you to keep a bit more of your own money than they might otherwise have taken from you, qualifies as 'government welfare', is a ludicrous use of words.
Government welfare is taking one person's earnings, and giving them to someone else for nothing ... It is NOT allowing you to keep your own earnings!
I have always quite liked the contemplation ...
"When I think of how much government welfare I ought to receive, I have to contemplate the difficult question of just how much of the fruits of someone else's hard work I ought to feel entitled to take from them ... "
There is no justification I can think of for taxing gains which have not yet been realised.
Will they be paying back the tax if the assets subsequently reduce in value????
Also it is extremelydevious to elect not to index such schemes ...
Right now 3 million might seem like a decent sum to retire on, ... but it is a mathematical certainty that at some future time you will need 3 million to buy a pair of shoes.
The idea of taxing unrealised gains is highly questionable, but ...
To not index it, ... is completely INDEFENSIBLE.
NST Price at posting:
$20.90 Sentiment: Buy Disclosure: Held
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