retirement age to be 70 - a joke ?

What a simplistic theory .

Of course the basic assumption here is that everyone will be able to continue to get work up to the age of 70. Flawed proposal right from the start. It does not matter what age you make the pension kick in , the fact is that no one wants to employ people over 50 - 55 years of age.

The government spokespeople of the past have said that if you loose your job after 50 years of age , there is only a 50% chance that will find work within 2 years. If you loose your job or are still unemployed after 55 yo it is likely that you will never find work again.

So this will only force the economic problem to other areas with increased crime , social security payments , etc.

Kind of like a mining tax and a carbon tax that were going to solve Australia's economic problems , but instead delivered 10% of initial projections and helped put the skids under most future mining developments in this country and the loss of thousands of jobs .

The likes of Rio Tinto and BHP are now saying that future mine developments in this country may be unsustainable particularly in the coal sector.

When will they learn that you cannot tax a country into prospaerity ? Where are the much needed business incentives to encourage businesses to continue to invest in this country ?