Five reasons American decline appears irreversible

[Developereo]

Hold on..isn't the retirement deductions taken out of Australian paychecks mandatory?

So they are forcing Australians to have less spending money due to mandatory withholdings and then they want to hit them with extra taxes??? What kind of ridiculous logic is this?

The amount you can contribute into your retirement account (called superannuation) is capped at around $27,500/year and you can make after-tax contribution of about $110,000/year (caps increase every year a little bit).

The rationale is that an average worker would not accumulate $3 million over a lifetime and large mega balances are used by the rich to stash away wealth because CGT is so low in a retirement account.

 

[j_hungary]

Yeah the whole thing is somewhat complicated. I found this blog post helpful:

Meg on SMSFs: Clearing up confusion on the $3 million super tax

There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue.

www.firstlinks.com.au

For stocks, it is easy: it's just the market value of the stocks on 30 June. For other assets, maybe they would require a valuation certificate as part of the tax return?

Stock aren't so easy too, especially non-ASX stock.

market value wouldn't corresponding to my gain even if I sell them......because when I sell them it's on whoever buying the share I sold, this could be higher or lower than market value, just like @Hamartia Antidote said, just because my share of EBay worth $100 by June 30 does not mean I made $100......

 

[Developereo]

Stock aren't so easy too, especially non-ASX stock.

market value wouldn't corresponding to my gain even if I sell them......because when I sell them it's on whoever buying the share I sold, this could be higher or lower than market value, just like @Hamartia Antidote said, just because my share of EBay worth $100 by June 30 does not mean I made $100......

LOL, I agree, but tell that to the ATO.

They are gonna tax you on the $100 regardless of what you eventually sell it for.

P.S. As 'Meg' explains in that link, if the value dips below $100 you can claim a 'unrealized loss' but that 'unrealized loss' can only offset a future 'unrealized gain', not a real capital gain under $3 million.

So, if you paid this crazy tax when your balance was over $3 million and then it dips below $3 million, you are out of luck!

 

[j_hungary]

Hold on..isn't the retirement deductions taken out of Australian paychecks mandatory?

So they are forcing Australians to have less spending money due to mandatory withholdings and then they want to hit them with extra taxes??? What kind of ridiculous logic is this?

Super (our version of 410K) is based on the pay package, your employer deposit the money (contribution) in your super account, you can deposit your own money to offset that contribution, that was on top of the take home cheque.

It wouldn't affect the paycheque takes home, but it will affect your super account (if your super account worth more than 3 mil) when you withdraw.

 

[j_hungary]

LOL, I agree, but tell that to the ATO.

They are gonna tax you on the $100 regardless of what you eventually sell it for.

That's why I will tell them to F OFF...........;p;

 

[Muji.Iqbal]

The US is wealthier than it’s ever been. It’s PPP GDP per capita is top 8 in the world, with the only nations ahead having small populations. Americans also have the highest disposable incomes in the world.

US GDP will exceed $50T by 2040. The US will remain the preeminent hyperpower.

Yes USA is number 1 Today. But tomorrow there are other nations that are catching up too.

 

[DF-41]

USA decline is absolutely certain

I hope USA will accelerate theri decline and doom by
SEEING KAMALA HARRIS FOR PRESIDENT

PREFERABLY BY FRAUD AND TRICKERY
AS COMMON WITH DEMOCRATS

AND BACKED TO THE HILT BY DRAG QUEENS AND LBGTQXYZ AND TRANS AND DEI MOBS

 

[DF-41]

https://www.tiktok.com/video/7406332050610916641

 

[DF-41]

 

[Hamartia Antidote]

View attachment 62292

What should you do?

You should wakeup from your perpetual Chinese Wet Dreams and complete ignorance of US Labor Laws.



This is the most ridiculous paragraph ever...must actually be a situation in China since it isn't applicable in the US.

Employees in the US are "at-will" meaning they can be fired at any time...even without reason. This is more liberal for companies than even China.



Your situation simply wouldn't happen as employees who fail can be easily fired without repercussions.

 

[DF-41]

What should you do?

You should wakeup from your perpetual Chinese Wet Dreams and complete ignorance of US Labor Laws.

This is the most ridiculous paragraph ever...must actually be a situation in China since it isn't applicable in the US.

Employees in the US are "at-will" meaning they can be fired at any time...even without reason. This is more liberal for companies than even China.

View attachment 62295

Your situation simply wouldn't happen as employees who fail can be easily fired without repercussions.

Your gibberish will never ever cross my eyes again

No need to close the door on your way there

There are also no doors on way to trash can

 

[Hamartia Antidote]

Your gibberish will never ever cross my eyes again

No need to close the door on your way there

There are also no doors on way to trash can

Sorry unlike you I don't speak "Minionese" so I don't understand your gibberish.

 

[SaadH]

There's only one reason for the impending decline of US empire, the insatiable greed and bloodlust of the zionist oligarchy that controls not only the US but all of Europe.

 

[ChineseTiger1986]

@Beijingwalker
@ChineseTiger1986
@Dalit @Areesh
@Goenitz

China is primarily laser focusing on its own issues, while the US is primarily focusing on China.

 

[Yommie]

After the Cold War, the US became more and more socialist and less and less efficient. Socialism kills American economy.