Tuesday, July 10, 2012

Generation Screwed.. again.

Just found out that the concessional contribution cap for superanuation has been reduced for the >50's.  So all the baby boomers who have been stacking the cash away and getting a reduced tax rate are sitting pretty... but us poor sucks comming along behind get taxed at a higher rate.

Yet again the party is over before we get there...

Logically I can rationalise that this may have been an interim plan to try to encourage more boomers to actually save for their own retirement rather than landing on the pension... but as part of a pattern of favoring the generation above while we in effect pick up the tab.... it sucks the big one.

This is really just another little way for us to pay boomers to have a good life and then, only those who are wealthy enough to make voluntary contributions over $25000 per year.  Clearly people who need help.

No comments:

Post a Comment