Tuesday, April 9, 2013

It'll happen here too

Bet on it.

Seems the Aussies have decided that that tax free retirement savings withdrawal setup (a Roth IRA like scheme) that was promised to responsible people who chose to save for retirement is now subject to a 15% tax. 

Just like your Roth IRA here ins the US is promised to be tax free when you withdraw it after retirement, The Aussies retirement was supposed to free of taxes.

But the current government has changed their mind. And there is nothing anyone can do about it.

The "Bank of Simmons looks more and more attractive. Why save or do anything when the government can choose to renege on it's promises? When they can decide to steal tax you money at whim?

I keep hearing rumors that the DNC types are looking at a similar scheme to take tax retirement accounts over some arbitrary amount (like $2million).

As the late (and lamented) Margaret Thatcher, the "Iron Lady" said:
"The problem with Socialism is the you eventually run out of other people's money".

She was right.

Another reason we as American Citizens need to have the Second Amendment......They can't do anything about their rulers government down under, they are disarmed and at the mercy of those with arms....the government and the police.  We can still (sorta) revolt.

1 comment:

Old NFO said...

Yep, coming to YOUR bank whether or not you like it... I'm investing in brass and lead....