# Shorten Screws DIY Super



## Garpal Gumnut (13 April 2011)

An article in today's Australian should be a warning to all DIY Superannuation investors. 

http://www.theaustralian.com.au/nat...es-diy-investors/story-fn59niix-1226038148531

A scam involving a financial scheme in WA has led to a rescue for Industry and Trade Union Superannuation funds by Bill Shorten, a silvertail, rich, well connected to dynastic capitalism and trade unions, minister in the Labor government.

It specifically excludes DIY Super funds.

What a muppet. He lives with the rich, and panders to the Unions and Superannuation industry, but has no thought for the workers, tradies and others who run DIY super funds.



> THOUSANDS of superannuation fund members who were defrauded in the Trio Capital scandal will have their money returned in the biggest bailout in the industry's history.
> 
> But, in announcing the $55 million rescue, the Gillard government excluded hundreds of do-it-yourself superannuation fund holders in what will be a wake-up call to the more than 800,000 self-managed funds in the country.
> 
> ...




In a thinly veiled threat to DIY super members, he is quoted as saying.



> Mr Shorten said self-managed superannuation fund members had "the benefit of direct control over where their money was invested, while the members of other funds do not".
> 
> "If people wish not to operate under those SMSF regulations, they're free to become members of the APRA funds," Mr Shorten said.




This is the beginning of the end for the ALP Government.

Australians prefer a fair go.

This is discrimination and social engineering at it's worst.

gg


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## qldfrog (13 April 2011)

I have to say that I perceive this guys as a serious threat to Australia: 
ready to do anything to advance his position: back stabbing (rudd government), marriage (social status), now trying to destroy self employed status to herd workers(tradies, consultants, etc) into unions; a Staline on the rise with Godfather smell;
Happy to be proven wrong but in the last 5 years I am following this guy...
I am not a hard core Liberal or NP


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## joea (13 April 2011)

qldfrog said:


> I have to say that I perceive this guys as a serious threat to Australia:
> ready to do anything to advance his position: back stabbing (rudd government), marriage (social status), now trying to destroy self employed status to herd workers(tradies, consultants, etc) into unions; a Staline on the rise with Godfather smell;
> Happy to be proven wrong but in the last 5 years I am following this guy...
> I am not a hard core Liberal or NP




Well qldfrog, while you were watching him, I have been watching Labor since they were elected in 2007.
My observations are they are not interested in screwing the taxpayer for just  the present, but if allowed will continue to screw the taxpayer and people of Australia for decades to come.

Gillard will go down in History all right, for being the worst economic manager in Australian Politics of all time.

Cheers.


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## sails (13 April 2011)

Garpal Gumnut said:


> ...This is the beginning of the end for the ALP Government.
> 
> Australians prefer a fair go.
> 
> ...




I am amazed at the cockiness of labor.  Gillard has already inflicted us with a flood levy against much public opinion and even against her own MPs who ran to the media.

Then she is planning to enforce a carbon tax which she specifically promised would not happen in her government and Swan said not in this term, and yet they treat Aussies as idiots.

And she promised that boats would stop.  Maybe she doesn't understand what the word "stop" means.

And now Shorten wants to make DIY super more difficult.

All the above could be titled. "How to lose an election"...


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## white_goodman (13 April 2011)

is anyone really surprised though?

“Sooner will a camel pass through a needle's eye than a great man be "discovered" by an election”


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## Julia (13 April 2011)

There are two aspects to this woeful decision by Mr Shorten.

Firstly the obvious disadvantaging of people with enough initiative to run their own Super Funds, but perhaps even more disgusting, the moral hazard implied in bailing out overpaid, underperforming Fund managers.

It's little different from the shonky banks that were bailed out in the US in the GFC.

Imo it's a foolish short term decision which will alienate many voters.


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## white_goodman (13 April 2011)

Julia said:


> There are two aspects to this woeful decision by Mr Shorten.
> 
> Firstly the obvious disadvantaging of people with enough initiative to run their own Super Funds, but perhaps even more disgusting, the moral hazard implied in bailing out overpaid, underperforming Fund managers.
> 
> ...




privatise gains, socialise losses... the new economic doctrine of the 21st century

* note must be well connected with govt


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## explod (13 April 2011)

white_goodman said:


> privatise gains, socialise losses... the new economic doctrine of the 21st century
> 
> * note must be well connected with govt




*Means: Government is well connected to money con*trol*lers


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## hangseng (13 April 2011)

Quite simply beyond any reasonable persons comprehension.

As a double hit, even people that weren't caught in this will pay compensation to those that were.

_



			It will be funded via an industry levy of about 2c per $100 on people with super accounts in APRA-regulated funds.
		
Click to expand...


_

Just another nail in the coffin of this mindless govt. Bring on the elections!


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## Reasons (13 April 2011)

hangseng said:


> Quite simply beyond any reasonable persons comprehension.
> 
> As a double hit, even people that weren't caught in this will pay compensation to those that were.
> 
> Just another nail in the coffin of this mindless govt. Bring on the elections!





The unions have a favourite saying...'Don't get angry, get even'. Probably suits this situation fairly well.


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