pension, page-21

your question is the same as asking why the USA cannot pay universal health care & probably pensions

the answer is often income distribution & taxation, where a very small percentage of the population own most the wealthy & also pay very little tax

in the USA, the top 1% own 35% of the wealth and the top 5% own 70% of the wealth and they have got continual tax breaks by the respective governments there

in Australia, my guess is there has been huge tax leakage due to tax benefits for the wealthy, from:

1. CGT discounts

2. Superannuation

3. income splitting via trusts

4. general tax avoidance

it is going to get worse because Hockey seems to want to shut down ASIC and reduce the ATO workforce, big time, so it because a tax avoidance rort for the wealthy (where as employees are unable to avoid tax due to the PAYG Withholding system)

Australia is in deep doo doo it seems

iron ore & coal prices still falling

Joe Hockey saying the mining industry will sustain us in the budget, which is non-sense

big services companies exporting basic service jobs

manufacturing shrinking more

unemployment rising

foreign investors increasing & sapping the assets & wealth

foreign investors buying unprofitable agricultural & mining businesses merely for supply rather than for profit (thus no tax paid) because they value add overseas in their manufacturing process


Australia is hopeless & ripe for picking


but that is the karma of low IQ & lazy convicts that took this abundant land from the Aboriginals & now the same is happening to them


Australia has so much natural wealthy that we should have factories producing all the goods we need but instead we have nothing

we should have tariffs, government share owned mined & have a self-sufficient nation



we are even importing food & giving up farmland for coal mines & the dreaded evil Coal Seam Gas


as we also have so many Kiwis with their snouts in the trough