The latest from the Spectator Australia:
When it comes to sneaky and deceptive ways to separate citizens from their money, there is no better system than superannuation. Money is forcibly taken from workers on the promise of a comfortable retirement someday in the never-never. But it’s not tax. It’s super, as in superannuation.
But before citizens get their promised comfortable retirement, a conga line of ticket clippers, a coalition, in fact, get their go. From the fund managers to the financial planners to the fund administrators to the lawyers to the insurance companies to the accounting firms to the asset consultants to the custodians to the banks to the brokers. Oh, and the tax office and the other various hangers-on, like politicians also get their go.
If there’s anything left after the ticket clipping bonanza, that goes back to citizens. Maybe. If they’re lucky. Unless sometime in the future the government decides to nationalise superannuation to pay down some of Australia’s soon to be more than $1 trillion dollars of Commonwealth debt. You know, like Argentina did in 2008.