Zero Hedge reports that:
"the Australian government has just announced new rules which penalize citizens who have responsibly set aside savings for their own retirement.Any income over A$100,000 drawn from a superannuation fund (the equivalent of an IRA in the United States) will now be taxed at 15%. Previously, all such income was tax-free."
It seems like 100,000 seems to be becoming a magic number. In Cyprus, the talk was taht any deposits over 100,000 Euros would be assigned a levy and would be confiscated. In Australia, they are doing something similar in that if you draw any income over 100,000 Australian dollars, the government will tax it or another wasy of saying confiscate it.
This is a potentially dangerous trend. The government confiscation of depositor accounts made world wide news. This news in Australia to their tax code has barely made a ripple of news anywhere. Yet the effects are the same. That is if you are a saver, the government can legally take some of your money. The confiscation in not new. What is new is that government stealing your money through supposedly legal means could become common news and acceptable to the eyes of many.
State sponsored secret police or terror groups is not new. What I fear maybe new is public acceptance of state sponsored theft by the government.
An extreme example of this is the Cheka in 1919 Russia or the Gestapo in Nazi Germany. Those were state sponsored and state approved police terror groups. The Cheka could legally arrest, torture, and even do summary executiions to enemies of the state at any time. The Gestapo could listen the priests sermon and if the priest publicly denounced the regime, they could arrest the priest and send him to a concentration with maybe at most a show trial.
Governments today are not doing summary executions. What they are doing are state sponsered theft. And the worse part about it is that unless there is any kind of public outcry, they will continue to steal with impunity.