Wednesday, 3 April 2013

fabulously wealthy. Uber rich

Julia Gillard says the fabulously wealthy will prop up the coffers of the government with changes to tax concessions on superannuation contributions.

Labor is privately saying they will only look to target the top 1 to 2 per cent of earners for any changes to tax concessions on superannuation contributions. But uncertainty remains.
Publicly they’re saying superannuation reform is not being used to plug a revenue hole in the budget.

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So what is fabulously wealthy?

A 80% mortgage for that river frontage property
A 100% car loan for a merc or a porche
A holiday on the tic. (credit card)

A portfolio of shares that are as volatile as nitro glycerine. Up one day down the next when someone sneezes.

or are you wealthy when you can give a big bundle to charity. Reward your workers with cars or holidays.
Fly to work in a helicopter? create jobs?

We may say ok they are wealthy so they can afford it. They can pay. Is this fair?
Did all the fabulously wealthy get there with shonky deals or hard work, long hours and sacrifice?
If the line in the sand is on income then what about the lottery winner who just one a million? He or she just stepped up a notch and they should pay. Or the recently retired who took that lump sum?

Shouldn't the population be treated all the same. a flat rate for everyone? Common sense says we should be treated equally only...
Some are more equal than others?

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