"Do you really think it's fair that a young family struggling to get into their own home, perhaps single income of only about $60K p.a. should be paying taxes to support such a profligate retired couple ? I don't."
YES, I BELIEVE IT'S DO-ABLE.
I was in a similar position as your example above. Paid off my house -bought my house in an affordable suburb - not necessarily the suburb that that I would have preferred to live in.
Contributed to 2 lots of uni HECs fees, and last December bought my first new car. I used to contribute half my wages to the taxman when I worked overtime. In those days household items were quite expensive. A crappy plastic light shade cost about $10 whilst I earned a bit over $100 a week.
I doubt very much if the modern family actually contribute to the tax revenue when you take into account all the federal and State assistance that they get to raise a child. I'd even go as far, that dual income family with 2 kids get more out of the system then they contribute.
I managed to do this without setting up any financial structure to create the perception of FABRICATED POVERTY like many business people do!
I'm considered too wealthy because my wife refuses to move to poshier suburb, so that we can get a part pension.
