EYE-BALL’s Harry’s Growl on – Election 2013 – Growl No: 32 – Senator Wong gets the wobbles – steps up and proves she’s in over her head –
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Larry Pickering Cartoons – Added 4th Apr 2013 – click to view in a new window:
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– 6th Apr – Election 2013 – Growl No: 31 – Playing with Rubbery things – Wayne Swan and his Rubbery Numbers are about as honest as Gillard and her rubbery Caucus Numbers –
– 5th Apr – Election 2013 – Growl No: 30 – A sequence of reasons why this Government should be ROASTED –
– 4th Apr – Election 2013 – Growl No: 30 – Gillard – continues to Blame everybody else –
– 28th Mar – Election 2013 – Growl No: 28 – Gillard – The Face of Evil Revealed –
– 27th Mar – Election 2013 – Growl No: 27 – Rudd’s Choice – A Betrayal of all ALP voters –
– 22nd Mar – Election 2013 – Growl No: 26 – The Morning after – Australia feels like they have just been date raped … –
– 21st Mar – Election 2013 – Growl No: 25 – The ALP still in the quagmire – Today’s Leadership Spill achieved nor decided anything –
– To see more EYE-BALL Harry’s Growl posts: click here …
– Election 2013 – Growl No: 32 –
– Senator Wong gets the wobbles –
– steps up and proves she’s in over her head –
| Author: EYE-BALL’s Harry’s Growl | 7th Apr 2013|
|Latest Pickering images – 3 New Cartoons added 4th Apr 2013 – see image links to the left.
Senator Penny Wong, Finance Minister, weighed in on the Superannuation debate with her ‘wrecking-ball’ analogy but forgot to do her homework.
Swan and Shorten went to great lengths to tell us all that the new superannuation rules covering a 15% tax on Super Fund incomes of $100k or more will only impact 16,000 odd superannuants.
They also told us that it would create revenue of $900,000,000 over the next four (4) years. Really this is just so simple … does that mean the 15% tax on super incomes over $100k will generate $900 million over the next four (4) years – which then translates to also mean that these 16,000 wealthy super fund owners will be the ones paying this $900 million.
How is that not unlike the ‘Cyprus’ bailout where wealthy depositors had their savings taxed to provide €10 billion to cover the Cyprus Governments part of the Euro bailout package?
In Australia’s ‘Cyprus’ like tax – as Abbott referred to – the Government is targeting wealthy Australians who have used the legal rules to create superannuation wealth, and now the Government wants to change the rules and apply a new tax on these wealthy funds.
To be precise in what Senator Wong said – the story has been reported as pasted below:
I particularly mused over Senator Wong’s distaste for the ‘Cyprus’ comparison.
By what measure is the $900,000,000 not a tax on the wealthy?
Swan and Shorten estimated the amendments would generate $10 billion over the next 10 year forward estimates. That is some serious numbers – but in 2010 the Gillard Government gave an iron clad guarantee that the forward estimates proved a budget surplus for 2013-14. You would just not trust anything this Government said or maintained when it came to budget estimates and spending cuts.
To turn the $900 million over four years into $10 billion over 10 years – what are they hoping for … bracket creep …
That would then require some research to see how many people sit just below the $100k income on super level’s now. That might make the 16,000 look a little suspect – maybe the real number might become 100,000’s in 3-4 years …
You just can’t trust any politician anymore with your money.
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