Consider if someone's super goes up from $3m to $3,250,000.
So they earned $250,000 in a year.
Oh no! Their balance is over $3m. They now have a tax liability.
How much? $2,884.
That is how much income tax someone pays if they earn... $36,300.
Remember: the FDIC was created during the Depression to protect people's deposit accounts.
Gutting it could lead to another financial meltdown.
Remember: the FDIC was created during the Depression to protect people's deposit accounts.
Gutting it could lead to another financial meltdown.