"Rates Aren't Going Down"... Mark Bouris & Stephen Koukoulas Monthly Update 

@BB49 In 1992, under the Keating Labor government, the compulsory employer contribution scheme became a part of a wider reform package addressing Australia's retirement income dilemma. It had been demonstrated that Australia, along with many other Western nations, would experience a major demographic shift in the coming decades, of the aging of the population, and it was claimed that this would result in increased age pension payments that would place an unaffordable strain on the Australian economy. The government foresaw what is happening in Japan. If the younger generation leaves, who's going to pay taxes to fund the pension for the retired? Just force everyone to save for their own retirement.

Nah, just tell the ATO to get ****ed

Thanks Tania 😀

Cheers!

No the scaffolding is being erected to cost shift ACAT/NDIS/Medicare back into households. You can see States lining up Private Health Fund Insurers to buy public hospitals, like they are doing running around buying optometrists, physio, dental clinics. Given how fast Woolies/Coles/Qantas plowed into car insurance etc I wouldn't be surprised if health fund insurers plow into NDIS and ACAT and then we all go around the mulberry bush again paying too much for someone who doesn't speak English to push mother/granny/child around the nearest shopping centre for $50 an hour. And then they get bused home to the REIT high rise "chicken coup". I am not staying for the floorshow. I never we would end up like skid row USA but here we go plunging in like a lifesaver into the surf. I'm sad the kids coming through won't have same future that these guys or I had in 70s. Wish I could come back the PM and go hard on any tall poppy behaviour who are even now loan shopping and whingeing about cranking credits. Bend over, your getting whipped like the rest of us.

Franking

Probably because they aren't around in the workforce for as long, and are basically semi-retired anyway in the final 10 years of their working life due to less employers wanting them. If you bump up the dole rate for people over 20, you might be paying them for 45 years until they retire at 65 (go on the aged pension) but if you pay those over 55 its only a decade before retirement at most. Also, they are more likely to use the money for wiser things rather than gambling, alcohol, smoking and the like, because they've lived longer and have jettisoned more vices by now. The other reason might be that for those over 55 looking for work, they would be more likely to have to take less desirable jobs due to their often lower employability. So that means more costs going to job interviews further away, the need for more expensive public transport to get to the job and/or a car good enough to handle long commutes, and working for a cheaper rate. Given their lower desirability to employers, they'll often be working for lower paid jobs which younger workers don't need to take.

And thanks for watching and commenting Olena ;)

No problem 😁, could not finish though...They are not speaking with conviction, sorry. Tried another episode - same effect, unfortunately.

@@olenanewton364 thanks for trying more episodes though, we appreciate you

Thanks Michel!

How about stop Taxing people & give people more of their own Money?

Thanks for your comment, Scott, and in the words of Billy Joel, "You may be right"...

Thanks for the kind words!

How good were the 80s...

18% interest rates?