Comment on Richest super balances to be taxed at higher rates after Greens agree to back Labor plan

No1@aussie.zone ⁨1⁩ ⁨week⁩ ago

• thatKamGuy@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

  Don’t buy into the fear-mongering being pushed.

  For a comfortable retirement in 2026, the amount required is ~$800K (this is already on the high end).

  Assuming a consistent worst-case inflation rate of 4% every year (double the RBA target), it would take 25 years to hit $2m - let alone the $3m+ in question here.

  There is a very small, very wealthy cohort with $3m+ in superannuation savings - and you, statistically speaking, aren’t part of it.

  Fuck ‘em - they need to be taxed more.

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  • FreedomAdvocate@lemmy.net.au ⁨1⁩ ⁨week⁩ ago

    Fuck ‘em - they need to be taxed more

    You say this about the people that pay the majority of all income taxes already lol. When did this commie “successful people should be penalised more and more for being successful!” ideology become so popular in Australia?

    No amount of extra tax from the wealthy is going to result in reduced taxes for everyone else. The wealthy and the high earners already pay almost all of the tax. All it’s going to do is end up in more government waste and corruption.

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    • eureka@aussie.zone ⁨1⁩ ⁨week⁩ ago

      When did this commie “successful people should be penalised more and more for being successful!” ideology become so popular in Australia?

      The commie perspective is that the owning class (not the same as having a lot of money or “being successful”!) gain profit off the backs of workers, and therefore we don’t get our fair share of the value we produce. High taxation isn’t a commie idea, it’s a social democrat (capitalist) idea to try and moderate the broken system that lets the boards of mining giants sit in billionaire luxury while selling the soil beneath our feet for themselves.

      But that’s nitpicking the premise. A better answer to your question:

      In 1951, the top marginal tax rate for incomes above £10,000 (equivalent to $425,000 today) was 75 per cent. From 1955 until the mid-1980s the top marginal tax rate was 67 per cent.

      en.wikipedia.org/wiki/Income_tax_in_Australia#His… for more info

      So “a bloody long time ago” is my guess.

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      • FreedomAdvocate@lemmy.net.au ⁨1⁩ ⁨week⁩ ago

        That entire perspective is absurd joke. People being paid to do their job are getting what they’re owed. If they want to start a business they can go ahead and do it and reap the rewards……or the losses. That’s the risk.

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  • No1@aussie.zone ⁨1⁩ ⁨week⁩ ago

    I get and support the gist of this.

    In terms of dollar values, I worry about 2 things:

    • the official CPI figures don’t track to the actual cost of living
    • the issue of money/government debt is uncontrolled

    Maybe if it was set as the equivalent of $3M in gold as at 12 March 2026 I’d be OK…

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