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12 Jul 2019 Superannuation

MEMBER 179 writes: 

Thank you Member 168 (TaxVine 25, 5 July 2019), don’t be bashful, why not say what you really mean.

I love the way you push the ALP mantra. 

You did not mention politicians in your rant. Why should we pay for so many retired politicians, specifically Prime Ministers, who cost us millions each year? 

My savings are mine and should not be taxed two or three times because some politician, who has probably never worked a day in his/her life, decides that “old people” are an easy hit. 

The young are encouraged to save for retirement so that they will not be a burden on the economy as they grow old. What is the point of saving if the end result is increased taxes on retirement savings? 

What should happen in the superannuation field is the Unions should give up their hold on industry funds and the Government should channel the funds into infrastructure such as dams and nuclear power stations. 

The young should also be able to borrow from the funds for housing, using their own balances as deposits, and repaying the loan over the next 30 years.

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