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If we send you an encrypted email the link below explains how to access it. Why would we send you an encrypted email, it may contain sensitive...

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What happens when the incentive to improve your lot in life is taken away? While it may be true that richer people benefit from the CGT concessions...

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The age below which individuals can receive genuine redundancy and early retirement scheme payments will be changed to align it with the Age Pension...

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Don’t strive, just be happy

What happens when the incentive to improve your lot in life is taken away? While it may be true that richer people benefit from the CGT concessions and negative gearing, I am not saying it is true, but lets take a leap of faith and believe what Bill tells us. Have every one of those now rich people always been rich, how did they make their money?

Did some of them get a job, save their money and invest so that they could make a better life for their family? I am guessing so, so where would they be now if the CGT discount and negative gearing had not existed for the last 20 years? I am going to take a stab in the dark and say not as well off as they are now. As a country we need to encourage people to improve their lot in life and give them the incentive to do so. Not everyone will reach their goals, but opportunity is what breads innovation, not stasis.

Government policy needs to be balanced to provide opportunity and encouragement, but also benefits for the less fortunate. Let’s not bring the rich back, let’s bring the poor up to the rich.