Taxes are not a piggy bank for your retirement. You can get a pension even if you were never taxed a cent in your life.
Can't believe boomers have the audacity to accuse Gen Y of being reckless spenders and then in the same breath pull the old "government told us we didn't have to worry about saving for retirement if we pay our taxes" one line wonder. You can say one or the other but not both.
I have said it before in another thread that the aged pension on its own represents more than 13% of the entire budget, that is to say our (i.e. today's taxpayers') taxes. That's more than the Commonwealth spends on Education or Defence! So if I were drawing a pension I would not crow so loudly about "entitled Gen Y whingers" in my spare time.
Especially when you're fighting tooth and nail to make sure the multi-million property you're fortunate enough to own outright doesn't get counted as an asset when the government is working out how much welfare to pay you.
