It is fine to suggest a simple solution to the growing State pensions obligations like (de facto) dont give them any or as this thread suggests, defer pensions until the aged are 70 hoping that many will die between the current 66 and 70. Perhaps we should encourage smoking obesity and lift the speed limit and offer incentives for aged pensioners to walk on the red light !
A more dynamic approach is necessary such as (a) Allow more immigrants to increase the taxpayer base* (b) Raise taxes and accept weaker economic growth (c) strengthen the current Super regime (d) maintain and lift the Resource taxes later as required.
It is interesting to note that the current government's policy to abolish the MRRT is opposite to what a decent country needs to finance aged pensions. It seems that some prefer multinational mining, oil and gas companies to pocket excess profits( just have a gander at Mdm Rheinhart & Twiggy Forrest) and then cruel the old aged into working long beyond their use by date. This is crass capitalism at its worst and is more befitting of Nazi totalitarian regimes rather than of our beautiful country and the government its people deserve.
Take Norway for example, with its massive soverign fund accumulated from its oil and gas resources and earmarked to look after its citizens including its aged in perpetuity. Why can we not see the logic of this and implement a similar fund here. But of course, to many the Norwegians are wogs and what would they know?
Instead, our greedy poiticians and top civil servants have the Future Fund which is the proceeds of the sale of everyones Telstra and a few lazy billion of general taxpayers funds thrown in for good measure. In a just society it is arguable that this fund ought to be used to supplement the aged pension rather than pander to the economic elite. "She'll be right mate" and" I'm all right Jack" , Gina and Andrew...............strewt ! This scandalous behaviour is more befitting of a third world bananna republic (Paul Keating where are ya?)
The mean comments on this thread are appalling from citizens of a country built by our forefathers; some of whom are now our aged pensioners and the implied greed of those who obviously can afford to contribute is , IMO, mean spirited and Un-Australian. My neighbours relied on the aged pension for over 20 years . He and his wife served in the armed forces during WW2 and fount it difficult to work later because to the war's negative effects on his health. He died at 72 in 1995 and I for one did not envy him has aged pension from the age of 65 nor that of his wife.
Cheers Moorookamick
Canada's population is now twice ours with a much better demographic mix due to its immigration policies. We can very well afford to have 40-50 million too. MM
