Growing up I always knew the rich had it better than us. It’s only now that I’m one of the wealthy that I realise how much we’ve got it in our favour.
Next week the government is giving me, for no reason I can work out, another $1110 a year in tax cuts. That goes up to $1,500 a year next April, and up to $1,860 a year in 2011.
Then, to top it off, they’ve given me a way to beat the recession. I’ve just chucked $15,000 in a year term deposit. When it matures, I’ll use it to make a voluntary repayment to my student loan of $15,500 and the government will give me another $1,550.
13.5% after-tax return per annum during a recession, you can’t beat that. Of course, you can only afford to pull the trick if you’ve got the money.
I just can’t work out what the point of the government borrowing money so it can give it to someone who already has heaps. If we’re going to borrow, a lot of people could use the help more than me.
Why should I be the priority? I don’t even intend to spend the extra dosh and I won’t be working harder because of it. It looks like they’ve just decided that I’m more deserving because I’m well-off.
I guess it’s true. It really is government by the rich, for the rich.