Here's one way for Australia to make up for the money they're losing from Trump's tariffs.

  • Thread starter Thread starter Floyd Eye
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Mrs. TB?

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Floyd Eye said:
Dude, you are full of shit. I say that because I know you aren't fucking stupid. That's not even close to the same thing.
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It’s only taxable on people with superannuation exceeding $3Million.
So the richest 80,000 people in the country.

I’m not naive enough to believe that all of that will go straight to the most vulnerable people and children in our communities, but even if some of it does, then why not tax the richest 0.3% of the population?
So what if those unfortunate millionaires are forced to take the kids to Paris instead of Monaco these holidays, boohoo.
 
jdel77 said:
It’s only taxable on people with superannuation exceeding $3Million.
So the richest 80,000 people in the country.

I’m not naive enough to believe that all of that will go straight to the most vulnerable people and children in our communities, but even if some of it does, then why not tax the richest 0.3% of the population?
So what if those unfortunate millionaires are forced to take the kids to Paris instead of Monaco these holidays, boohoo.
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With respect, that's just plain envy. Why do you think everyone needs to be equalised? I don't get socialism.

You know, while I lost friends and studying my butt off alone in a room I had friends that partied and lived the high life. I saved and was responsible for my own future in retirement. Some people spent everything and lived the high life once again. Why do you think we should all be equalised at the end of the day again? Equalisation rewards poor choices or the choices that we all get to make for better or worse. There may be some people that have been dealt a poor hand but there an awful lot of people that were just plain stupid, didn't work hard and decided to spend what they were given in life without saving any of it.

I don't have $3m in my super but at least I don't begrudge people that do and try and steal from them.
 
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Thumbpicker said:
That's not direct revenue from tariffs though.
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Yes, that was my point.

The tax take's gonna be huge.

As you'd well know, big business and the top 1% or whatever of earners pay the lion's share of the bill.

As you said 'though, there'll be a lag, but it'll be decently-staggered IMHO 'cause shit's already being built.
 
jdel77 said:
It’s only taxable on people with superannuation exceeding $3Million.
So the richest 80,000 people in the country.

I’m not naive enough to believe that all of that will go straight to the most vulnerable people and children in our communities, but even if some of it does, then why not tax the richest 0.3% of the population?
So what if those unfortunate millionaires are forced to take the kids to Paris instead of Monaco these holidays, boohoo.
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So you didn’t read the article either. 🙄

Believe me, they aren’t just gonna tax the rich. That’s just some bullshit they say to get people like you to go along with it. You’ll see. When it’s too late.

In any case, it absolutely is “ News”.
 
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Floyd Eye said:
So you didn’t read the article either. 🙄

Believe me, they aren’t just gonna tax the rich. That’s just some bullshit they say to get people like you to go along with it. You’ll see. When it’s too late.

I’m n any case, it absolutely is “ News”.
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I read it when I said I read it and like I said I already completely knew about it. It will affect people progressively for sure because it's not indexed but it won't ever affect me unless they come up with some new idiot scheme which of course you can't put past them.
 
Thumbpicker said:
I read it when I said I read it and like I said I already completely knew about it. It will affect people progressively for sure because it's not indexed but it won't ever affect me unless they come up with some new idiot scheme which of course you can't put past them.
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Or if your house and assets exceed the limits.

People think a million dollars is a lot. It’s really not.
 
Floyd Eye said:
Or if your house and assets exceed the limits.

People think a million dollars is a lot. It’s really not.
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But it's not on regular investments, investment properties or other assets including our principal residence - it's just on people that have $3m in a formal superannuation fund. Superanuation funds get concessional tax treatment and what they are doing is changing the rules on people who have more than $3m in their superannuation fund. At the moment that doesn't catch many of us but because they aren't indexing it to inflation more an more people will hit the $3m threshold as $3M is worth less due to inflation in the future. It's also a unfair on those people because they planned their retirement and superannuation fund around rules and this is I believe retrospective so it changes the rules after they've already hit the $3m balance in the past. It's disgusting labor party rubbish.

However of course like I said I wouldn't put it past them to try other nefarious leftwing socialist stunts as a cash grab in the future. That's what scares me and no doubt other people.
 
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Thumbpicker said:
But it's not on regular investments, investment properties or other assets including our principal residence - it's just on people that have $3m in a formal superannuation fund. Superanuation funds get concessional tax treatment and what they are doing is changing the rules on people who have more than $3m in their superannuation fund. At the moment that doesn't catch many of us but because they aren't indexing it to inflation more an more people will hit the $3m threshold as $3M is worth less due to inflation in the future. It's also a unfair on those people because they planned their retirement and superannuation fund around rules and this is I believe retrospective so it changes the rules after they've already hit the $3m balance in the past. It's disgusting labor party rubbish.

However of course like I said I wouldn't put it past them to try other nefarious leftwing socialist stunts as a cash grab in the future. That's what scares me and no doubt other people.
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Open the door an inch, before you know it the door is laying on the living room floor in splinters.
 
Floyd Eye said:
Open the door an inch, before you know it the door is laying on the living room floor in splinters.
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It is a democracy here - if they annoy 80,000 people they can't be voted out but if they wholesale go bananas on too many people they will get kicked out pretty quickly.
 
Floyd Eye said:
It’s not really a democracy. Don’t be naive.
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It's more of a democracy here than than the US. Even within our government our PM can be voted out by the other members of government if they get out of line. We don't vote in a leader - we vote in a party.

Although I suspect you might mean something more cynical about the nature of governments.
 
Floyd Eye said:
Other members of the government voting out members of the government. It’s closer to oligarchy than democracy.
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The leader doesn't lose his seat in parliament. He just loses the leadership of the party. So he's still the elected representative for his electorate.

You'll see that happen in the UK and Canada too. Eg. Boris Johnson or Liz Truss get voted out as leader - but they were still in parliament.
 
Thumbpicker said:
But it's not on regular investments, investment properties or other assets including our principal residence - it's just on people that have $3m in a formal superannuation fund. Superanuation funds get concessional tax treatment and what they are doing is changing the rules on people who have more than $3m in their superannuation fund. At the moment that doesn't catch many of us but because they aren't indexing it to inflation more an more people will hit the $3m threshold as $3M is worth less due to inflation in the future. It's also a unfair on those people because they planned their retirement and superannuation fund around rules and this is I believe retrospective so it changes the rules after they've already hit the $3m balance in the past. It's disgusting labor party rubbish.

However of course like I said I wouldn't put it past them to try other nefarious leftwing socialist stunts as a cash grab in the future. That's what scares me and no doubt other people.
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Regardless of how much money a person has or what they’re actually taxing, it seem very authoritarian to put a tax on potential earnings.
 
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