NomNomRichest super balances to be taxed at higher rates after Greens agree to back Labor plan
NathI have no idea why every news article on this matter makes it sound like everyone should be against these changes. Superannuation has for decades been a neat place to dump surplus salary to get it taxed at a lower income tax rate.
Under the superannuation tax changes, the concessional tax rate on earnings for balances between $3m and $10m will double from 15% to 30%.
Balances above $10m will be subject to a new, higher 40% rate.
Most of us are not affected by these changes. I truly, genuinely wish I were affected.
minimumchipsBecause wages are inadequate and passive wealth or capital inheritance are the new pathway to upward social mobility. It’s not that I think mist people think like this (yet), but news articles are mostly written by people from wealth now, because who can live on a journalist wage these days.
eurekabut news articles are mostly written by people from wealth now, because who can live on a journalist wage these days
That’s a bold claim; I don’t disagree that journalists are generally underpaid, but none of the journalists I personally know are particularly wealthy afaik. (Obviously this is my anecdotal experience)
Although furthermore, journalists don’t have to be wealthy to be pressured into writing in support for the wealthy. This is a systemic part of how major news companies are run to satisfy their ultrawealthy major stakeholders (see my other comment: TL;DR ~97% of news readership funnels up to News Corp, Nine or Seven). Someone trying to write articles against the interests of the company owners won’t last long.
General reminder to the people reading this article: whether they understand or not, someone with a net worth of 10 million is a hundred times closer to a houso than they are to a billionaire.
Interesting last point, if I understood right. Putting it another way, if you have a piece of gold worth $100,000, you need 10 to have $1 million, but you need 10,000 of those gold pieces to have $1 billion.
Sure! You just reminded me of this small* site which helps visualise it: Wealth, shown to scale
Very good points. I withdraw my comment as it was definitely an overreach.
And there’s definitely times where there are wealthy journalists/writers too, so I see what you mean. I can think of many US/international grifters who adopt a rustic, masculine, working class image but have university backgrounds in media production and rich parents funding their failed art careers. Relevant video
