oh, you love the changes.
well - let me tell you what the limiting of 1.6 million per account means.
It means that if a couple want to pull out say 2 million above that limit - for say a new house or something
then $300,000 now goes to the government - which they will spend wisely as they always do.
This also means that the $300,000 does NOT go directly into the economy and the community - so, the pool builder will not get it - nor will the landscaper - nor will the Merc. dealer etc. etc.
Every single dollar of that $300,000 that would have been spent in the community - would for a start - make 10% gst
it also would have gone to employing people in JOBS - jobs, that the workers pay tax on - and the dollars go round and round and round.
Now - the $300,000 goes to the most inefficient spender in the entire Nation ----------- the government.
If you think that particular change is good ------------- you may need to think again.
Pinto
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