RE ‘‘Brutal tax grab targets self-funded retirees’’ (Comment, March 21).
Let me suggest that what may be a workable and affordable policy when it benefits only a few people, as for the tax rebate for low income shareholders, becomes unworkable once everyone becomes a player.
That is the problem with the current arrangement where the cost to the budget is exploding as every retiree gets on board.
It is no problem if only a clever few are eligible but it breaks down once everyone arranges their assets to allocate income to someone with little or no taxable income.
Just as with having a bank account in your child’s name, to minimise tax on interest payments, once everyone is doing it the rules have to change, as they did.
Policy has to adapt to facts, as does planning for retirement.
Michael Harrington, Bonnet Bay