They Are All The Same
Whether they call themselves Conservatives [Canada & UK], Republicans [US], or Liberals [Australia] they all try to lower taxes on the 1% by raising taxes on everyone else.
The Australian version of an IRA [Individual Retirement Account] is the “superannuation fund”. Apparently 33% of the return from these accounts is currently exempt from capital gains taxes. The ruling conservative coalition want to cut income taxes, so they are looking at reducing the exemption to 15%.
It doesn’t make any difference how well you plan, if you can’t put aside a couple of million dollars after buying a few legislators, you will struggle in retirement.
February 22, 2016 Comments Off on They Are All The Same
