The truths is, the banks, or rather the shareholders are easy targets, and are treated badly by the government.
I am not even sure how the extra tax on the 'greedy banks" were legal, as it is actually targeting /and increasing the tax on one group only, namely the shareholders.
It's not the banks, that are hurting.
Clearly the holders are the one who are losing out in the form of dividend cut.
Now this fine, I am not saying, that the banks should not be punished to an extent, but let's not go overboard, and hurt the mums and dads again.
The reality is if any other group was targeted this way (hit with extra tax, because they earning too much) -
-It could be anyone, for example teachers, taxi drivers, factory workers, supermarkets etc, there would be a revolution.
I wish they all were fair to shareholders, who have invested their hard earned $ in the banks, and in many cases they are self retired, therefore saving a government a fortune in pension payments.
And if people jealous on the return they get on their holdings, join them, instead of whinging,
And stop finding ways to hit the shareholders.
CBA Price at posting:
$80.72 Sentiment: None Disclosure: Not Held
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