by Kris Sayce on December 16, 2009
Your editor certainly has taken a pasting this year from bloggers who accuse us of scare-mongering over our “Government wants to steal your Super” commentary.
Here’s a sample of the posts to the Money Morning and Daily Reckoning websites. First off, a post railing against last week’s effort:
“Passing legislation in Australia takes at the minimum a month of two, from the initial bill to formal implementation, and if the government even mentioned proposals to confiscate individual super assets the result would be obvious. Every SMSF would sell its assets immediately, the ASX would crash immediately, and thirdly all money from the sales would leave Australia asap. And all this would happen while the legislation was still being discussed. Sayce’s article is paranoid nonsense.” – Ken, Daily Reckoning Website
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by Kris Sayce on December 14, 2009
Another quick Money Morning today as we concentrate on getting the December issue of Australian Small Cap Investigator out the door.
So rather than blathering on forever as I normally do, I’ll just make a few brief observations on the subject of superannuation this morning.
First up, we noticed the front page of today’s Australian Financial Review (AFR) with the headline:
“Super funds want risk targeted”
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by Kris Sayce on December 10, 2009
By now you should have worked out that your editor is not a fan of government. Regardless of the colour and political persuasion, all government parties and government opposition parties are corrupt.
You can see that by the horseplay at the federal level and in New South Wales in recent weeks. Their only concern is to gain power so they can grab taxpayer money to spend on their own favourite projects.
However, there is one policy that we would like a government to implement – right before government itself is abolished – and that is for all actuaries to be made illegal.
I’ll explain why in a moment. But before I do, a quick note on the debacle in Copenhagen, which ties in to today’s Money Morning.
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by Kris Sayce on November 6, 2009
Are you feeling rich?
I hope not. Because if you are, get ready for the Australian government to snatch that wealth from you.
Actually, even if you don’t think you’re rich, chances are the government does.
The Emperor Henry Tax Review final report is imminent. And as we’ve warned during the last year, you’re not going to like it.
Almost on cue the government has started leaking some of the possible conclusions to ’sound out’ the reaction. News Ltd obliges the government with a typical lapdog headline “Simpler tax system that targets the rich.“
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by Kris Sayce on October 21, 2009
Today I’ll give you a follow up to yesterday’s Money Morning that questioned the usefulness of the Australian Competition & Consumer Commission (ACCC).
If you missed it you can click here to bring yourself up to speed.
Well, it seems as though your editor was wrong.
Based on the feedback Shae’s been getting into the Money Morning mailbag most people seem quite happy to pay higher prices for things.
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