All those employees sweating on a super contribution hike to improve their final living standards might want to "beware greeks bearing gifts".
Is it too simplistic for me to suggest the huge sum invested in Super has to find a home, much of which is directed toward the stock market, whether by Super funds investing directly in the market or obliquely into managed funds?
Guess what sector is cyclically favourite and what investors are overweight in? The very same companies that KRudd is about to impose this iniquitous tax on.
This tax overall devalues Super gains by significally reducing profits and by association, dividends, lowering SP's, (and hence capital gains), all occurring regardless of any increase in the percentage of contribution.
Under the guise of helping the working man the Government by stealth steals from the very same workers by using mirrors and smoke screens to bail out their own disgraceful failures, (need I repeat, insulation, uncontrolled school spending etc. ad nauseum),
