Australia's largest stock trading and investment forum Australia's #1 stock forum

oh lappy

First 12 Last

Share
Profile

Follow
jwfc

8,044 Posts.

32

17/05/19

20:49

Post #: 38622983
Share

Originally posted by Lapdog: ↑

@jwfc; the Australian Way has traditionally been about a fair go and equal opportunity for all expressing itself as mateship - offering a helping hand to those not travelling so well. It's embedded on our official statement of core values and is NOT about $Feeding $Greed and kicking those doing it tough in the teeth.

Until 1996 Australia had a fairly progressive income tax regime, NO regressive $GST and a growing superannuation scheme aimed at delivering dignity for the asset poor in their old age.

John Howard and Peter Costello trashed those values by embedding in the Budget for subsequent taxpayers to fund the transference of wealth from those with least of it. They extended superannuation loopholes to people who'll never need superannuation, transferred the tax burden from corporations to PAYE taxpayers and knee-capped corporate regulators and thereby sewed the seeds for what the ICIJ is currently exposing.

Parasitic wealth management corporations which exist to exploit such loopholes are a dime a dozen and contribute little more than high level executive remuneration. When the tide turns we do not owe them a living.

Expand

oh lappy
Upvote

Reply

First 12 Last