Betrayal of self-funded retirees
I am writing an open letter to you ladies and gentlemen, because I believe you are people of power and influence, and to help protest the current Treasury and Government thinking on changing the tax arrangements for superannuation.
Having members of the bureaucracy and their political masters, who enjoy taxpayer funded and index link pensions, telling us we are getting more than we deserve is not only a bit rich but a betrayal of self-funded retirees yet again.
Many of us worked hard and saved hard for some 50 years, so we could enjoy our retirement and not become dependent on the Government.
We planned our retirement on the rules at the time and this constant fiddling with rules is unacceptable.
The Howard-Costello Government tax policies for superannuation were brilliant and intended to encourage people to stand on their own feet in retirement and it was a great success.
This is something that the current government cannot stand, so now for class warfare reasons and the need to fill budget gaps created by their failed giveaway and infrastructure projects, like the insulation debacle, education buildings that went way over budget, the Treasurer is demonizing those people who made the mistake of trying to help themselves.
The Treasurer and other government heavies tell us that if you have a million dollars in superannuation you are getting tax advantages that you are not entitled to.
This is class war spin at its worst.
A million dollars at four per cent equals a yearly income of $40,000, hardly the fortune that the Chardonnay Left would have people believe.
These totals also have to last some 25 or 30 years and, even with inflation running at low levels, eg 2.2 per cent for the calendar year ended December 2012, hardly the basis for riotous living.
As reported in the AFR on February 4: "The electorate won't swallow super as middle-class welfare" noting that Peter Costello put super "front and centre" of people's minds in 2006.
The Government is currently way behind in the polls and may well lose the next election.
One policy that will ensure that it does, even more than the hated Carbon Tax, is to attack those members of the community with superannuation, some 25 per cent of self-managed funds have balances over $1 million, and they vote.
The Government holds my electorate, Robertson, by a cigarette paper thin margin, after preferences 1699 votes in 2010, before first preference stage it lost by 3216 votes so its margin is just 0.91 per cent.
At meetings about this rat bag policy, disguised as an equality measure, I can observe in the 60 plus age group, total rage.
These enraged people could quite easily, in their own right, lose the Labor Government the seat of Robertson.
By my calculations, they could be responsible for a 1.41 per cent swing to the Liberal Party.
The Government has probably already lost Dobell, because of the actions of the sitting member, which it held in 2010 by 1.14 per cent, but if you add the 1.41 per cent represented by enraged superannuates it definitely will.
So class warfare of this divisive type will ensure the election of the Abbot Liberal Government on September 14.
We will also be watching and listening to the Coalition to ensure that the fabulous Howard-Costello legacy is not endangered by short term thinking of the type shown by the Treasury.
These days my consultancy works for charities, not for profit organisations, and non-government organisations at no charge.
This is the way my wife and I are putting something back into this great country that has been so kind to us.
Email, 28 Mar 2013
Peter Mote, Umina