There are stories
coming from several sources in different parts of the nation of retirees
turning up at Centrelink offices or ringing them up to ask when they will be
getting their franking credit refunds. This is despite the fact that these
people have no shares. And yet these gullible people actually get to vote. This
clearly shows that they have no idea what a franking credit is, nor how it was
subverted by the Howard government to facilitate shovelling taxpayer funds to
the wealthy1. As has been reported elsewhere, this costs the budget
almost $6 billion per annum. Funnily, for the gullible buffoons who actually
believed that the removal of franking credit refunds was a ‘retiree tax’, it’s
likely that the government will have to review franking credit refunds or
increase the GST. This is according to major consulting company KPMG2.
If it raises the GST, many people will hurl abuse, but the money will still
keep flowing into the Liberal Party coffers from their wealthy donors. If the
government try to get rid of franking credit refunds, then many of those
donating to the Liberal Party will not be happy. What do you think the
government will do?
Sources
- http://www.blotreport.com/australian-politics/lying-by-omission-again/
- https://www.yourlifechoices.com.au/finance/seniors-finance/franking-credits-review-tipped
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