The announcements of the last week are insidious. Flying a kite on Monday and making a decision 7 days later is faster than any government can act. This change to super was all preplanned – and probably before the election. So much for consultation about the purpose of super!
And this is why Albanese and Chalmers cannot be trusted. They simply lied to get elected. They took a page from the Daniel Andrews book of lies and deceit. And yes, all politicians from all sides of politics do exactly the same thing.
But Labor is the party that loves to put its hands in your pocket. And your pocket well before theirs.
For you to get the same $400,000+ per annum government pension as Albanese, you would need a super balance of more than $6m. And his snout is nowhere near the biggest snout in the trough. Look at some of our public servants and judges who will get government pensions of almost $1m per annum. Who is paying for that?
This is one of the reasons the government needs more money. How much would be saved if all politicians and public servants had their pensions limited to what you can earn with the $1.7m balance transfer cap?
But even more insidious is that Chalmers does not even want to index the $3m super cap and effectively this taxes unrealised capital gains.. Today somewhere between 80,0000 and 120,000 hard-working Australians who have done the right thing and legally saved for their retirement are to be taxed. How many will this be in 5 years, 10 years, 15 years? Nobody knows, but it won’t take too long for this NEW tax to apply to 1 million Australians – and you are likely one of them.
It has been said time and time again – you can’t trust Labor with your money and again the proof is in the pudding.
This NEW tax is simply unfair to all those Australians who legally saved for their retirement and today have accumulated balances through smart investing. And you did not need to be that smart. If you purchased A$5,000 of Apple shares 20 years ago, these alone would be worth more than A$3m today.
So mark my words
Today they are coming for your super.
Next, it will be your family home.
Then your negative gearing.
Next your franking credits.
Then look out for death taxes and inheritance taxes.
And last, with wall-to-wall Labor governments, an attack on what’s left of your wages through an increase in the GST rate to maybe 20% and the removal of exemptions on food, medical costs and education.
This is just the beginning
It was said before the election “Life will not be easy under Albanese”. Huge increases in interest rates, electricity prices , gas prices, food and services – all in less than 1 year. Where will Albanese leave us in 3 years? On his current form, broke as individuals and broke as a nation with daily blackouts like South Africa.
And divided by race through his racist Voice.
Please share this post with your family, friends and workmates. It is time for Australians to stand up and be counted.