Humble servant of the Nation

No point in saving for your retirement

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That great sector of the Australian community, retirees, is being set upon again by government. The issue has passed barely noticed in the media but the political consequences for the Turnbull Government are sure to be profound.

On January 1, 2017, changes to the aged care assets test will see more than 100,000 Australians lose their part pension payments in entirety. More than 300,000 will have their pension payments cut.

There is a perception many retirees are rolling in money. They have assets many could only dream of. Perhaps that’s why the media has shunned the issue.

Let me ask the question, who among us could lose 20 per cent of our household incomes and come away unscathed?

It gets worse. With the loss of the pension, the government will also cancel retirees’ pensioner concession cards which allow them to enjoy discounts on council rates, car rego, energy bills and public transport tickets. Back of the envelope, that’s three grand per annum retirees will have to find.

Full column here.

495 Comments

  • Mac says:

    Carl, the only thing I’ve ever heard or read on Immanuel Kant was that he was a “real pissant who was very rarely stable.”

  • Henry Blofeld says:

    Vale ex ousted PM Tony Abbotts Green Army, Mr Insider. We did but see it passing by………whoa sorry we didn’t see it at all. MYEFO today no great surprises today but we suspect the Budget next year may well be a horror one. Fasten your seatbelts my fellow Aussies 2017 may prove a rough ride.

  • Rodent says:

    Bassman,..
    Please be logical and no spin please!
    Co2 is not a greenhouse gas as it represents 3%of the atmosphere , nitrogegen over 80% water vapur regularly changes climate in variations , sun spot activity has bearings as well , humans contribute 3% of co2 , Methane is the large bulk damaging earth as with Volcanos ,
    .You obviously don’t know your history like the Philippines eruption just to name one .
    Co2 is not a world problem as inconclusive says world scientists as planet plant growth is thriving on extra Co2 Animals now more existing due to this as food chain increases.
    You seem to have a lapsed mental capacity comes to volcano history .
    Cyclones in Australia decreasing over a decade straight now , just one last year effective over lower maritime heat surges .Oceans not rising , NZ Scientists monitori ng Pacific Islands see no sea level changes , coral reefs growing back after cyclone Yasi 2011 damage , GBR in better shape now , .Get out of all this JB conspiracy rot Bassman and get into reality for god sake dude! Allow scientists to dl their work , don’t try and degrade them on conspiracies .
    Read that link I sent JB please!

  • Rodent says:

    Bassman ,02:31pm
    Nkt only you making a goose of yourself trying to help out your pathetic idealogy conspiracy mate , but you now showing why bloggers refer to you as all over the shop on post figures here .
    AS I said before , to you “When you know nothing , say nothing” .
    Your illogical nonsense assumptions of guessing the outcomes , dods not match the science of Prof Lindzen credentials having represented all over the world with appointments and lecturers that years been a part of Scientists gatherings with Prof Judith Curry who have mixed views saying science is inconclusive.
    You can bark all you like Bassman like a mad lefty who will never be convinced on credibility scientists , but you only making another JB goose at work. This calamity of climate-gate errors , never leads you into procarious posts never joining the authentic path of noting that scientists saying climate is inconclusive . You and your idiot mate seem to think you know more then scientists do by by-passing facts . This topic for you both spells a hadardous journey for you both emphasing the fact that you show that advancing your crazy resentment of the facts that no such evidence is yet available that sea will swamp our coastlines like you clowns saying .This meddling preposterous crap you both spin out , shows the brain is in permanent dysfunctional mode not able to articulate the findings that science is still inconclusive. JB has indocrinated you into conspiracies of erroneous false belief having the tenacity to crap on with deceitful online radical activist lobbyists garbage , yet you fall into the vulnerable category believing his crap will succeed .
    Get out of the emulation Bassman of JB and return to education , not indulge in the climate internal or boundary
    breaches of climate-gate .

  • Dismayed says:

    Interesting modelling out. If the Nation still had the Tax to GDP ratio of the Howard/Costello years there would be no net debt and the budget would be $30 billion in surplus. So much for the claim the coalition are the lower taxing party. This modelling also highlights the dangers of trying to cut your way to balance. The modelling and report also highlight the lack of productivity enhancing Infrastructure being undertaken by the coalition government will slow future economic growth. The government response? Proposed Tax cuts for corporations already paying on average only 19% tax on profit that is those that actually pay any.

  • Carl on the Coast says:

    WOW! The “Trump” phenomenon** has even infected MYEFO. The results had Chris Richardson on the back foot. And I’ll wager Bassy is scrambling for his scrap book as we speak (I’ve juxtaposed Bassy with Richardson purely for the sake of contrast). And the ratings agencies are both beaming and dumfounded.

    Those responsible can take a bow.

    ** Taken from the Greek usage – to shine and manifest itself, and also to a lesser degree from Immanuel Kant’s observations re the restrictions on the human mind.

    • Dismayed says:

      You do enjoy fantasy fiction don’t you Carl. The budget still contains $13++ Billion of measures mostly from the 2014 Budget that will NEVER be realised. This is almost as fantastical and fictitious as Hockey’s InterGen report. Another swing and a miss by the coalition and its supporters.

  • BASSMAN says:

    Rodent:-your claim that most of the earth’s warming is caused mainly by volcanoes and that humans contribute little is madness at its barking worst! There are no climate scientists who publish in peer review journals that subscribe to such a view. Only shock jocks and drongos who hold down jobs in journalism who will not risk their superannuation or salary to write the truth. Now I will keep it as simple as I can for you. Volcanoes don’t hold a candle to humans in terms of emissions of that (and other) greenhouse gases each year. All the volcanoes on Earth emit about 260 billion kg of carbon dioxide each year. Motor vehicles, people, animals and industry easily exceed this all over the world! Volcanoes represent a piss in the ocean as a contribution and in terms of the earth’s history, we are not in a particularly ‘volcanic time’. GROAN!

  • Jean Baptiste says:

    Rodent 9:53PM

    Great job. You have convinced me that homo sapiens are not intelligent enough to survive their own idiocy.
    By some extraordinary feat of mental gymnastics you conclude that a recently erupting volcano (2012?) has by itself caused the increases in ocean and atmospheric temperatures since 1750?
    https://www.carbonbrief.org/in-brief-how-much-do-volcanoes-influence-the-climate

    Trevor Snott 8:09PM

    Idiot.

    • Trevor Snott says:

      Your eloquent rebuttal Sir confirms my suspicions as to your intellect. Hence your claims to be a climate change guru are now on toast, perhaps you should take up knitting.

  • Milton says:

    Happy Birthday, Lou and well done to your daughter (and your stoic missus!!).

    Darren – HK Jack has provided our chat.
    Consider that someone could be defamed, let’s say called a pimp and involved in the drug trade. If they are not these things and this assertion impinges on their occupation, and/or reputation in the community, or similar such things, they have been defamed. They need not feel ‘offended’. In fact they may feel overcome with joy that a decent sum of money is coming their way.
    Under 18c I could have reasonably claimed offence at the Norm: Life be in it commercials as they stereotyped white anglo/Caucasian males as obese, telly watching, beer drinkers and bums. I may well be that person, yet i haven’t been defamed, just offended.
    Those are the distinctions, and the difference.

    • Lou oTOD says:

      Thanks Milton, too kind but go steady on the stoic missus bit, she might read it. For the record I do most of the cooking, and supermarket raids, and most of the household drinking. What more could a girl ask for eh?

      • jack says:

        Bloody hell Lou, we are brothers.

        i do the cooking and food shopping and all the household drinking, mind you, the bride does earn the Hongkies.

        not only that i have a daughter doing a psych doctorate and getting married soon.

        • Lou oTOD says:

          Oh good luck with all that Jack.

          If the wedding planning doesn’t drive you nuts, the none too subtle psych analysis will get you for sure.

          Unfortunately my wife gave up work so she could play more golf. Where abouts in HK should I send her for remedial work experience?

      • jack says:

        Milton,

        a couple of blogs back i suggested that it wasn’t just lawyers who understood particular legal issues and that quite often non-lawyers understood them better than lawyers.

        This statement of the bleeding obvious attracted some derision, but i think we can say, that at least as far defamation is concerned, you have put it beyond doubt.

    • darren says:

      No, Milton. Under 18c you have absolutely no chance of successfully claiming that the Norm Life be in it campaigns are offensive – on a racial basis or otherwise.

      If anything 18c – as qualified by 18d (which a lot of people seem to completely ignore, which is bizarre because 18c is expressly subject to 18d) – is the narrower claim. Defamation is the blunderbuss of the free speech world.

      I should also point out that federal legislation that effects free speech is subject to the “proportionately” test, as a result of a number of high court cases on the implied constitutional right of free speech. To state it briefly that means that legislation that has the effect of curbing free speech must only do so in proportion to the mischief it is intended to address. That has to be inclued in the impact statement when the bill is presented to parliament. 18d is the qualifying section that guarantees 18c survives constitutional challenge. Its noteworthy that some very expensive legal brains didnt put a dent in 18c and 18d on this point when the Eastock v Bolt case was argued. Its been a while since I last read the judgment but i dont think they even tried.

  • Rodent says:

    JB 09:11pm.
    Have you ever taken in the time to break from your conspiracies like 911 was not real but caused by Americans , moon landing history of truth , that two you deny?
    Life JB is all about a combination of taking in, listening and learning from others or even mistakes you poor fellow.
    I make many mistakes and admit fault like all of us , but do take in science reports that you must shutter with knowing your ominous signs anchored into idealogy before truth. You even select propaganda before truth obliterating your own arguments positioning yourself into a gloomy future not able to sustain a balance and truth in your argument that sends you crazy in need of solid years of tutoring my friend , and that is up to you to dig yourself out of the hole you got yourself into .
    As for a mid year UN report that you would not understand, the last 4 decades shows growth measured on a global scale increased 40% when Co2 increased dramatically with crops grasslands and forests boomed meaning animals and humans can benefit in the food chain. We got to be careful on forests now under massive clearing and cities in the northern hemisphere are now in need of pollution clean up as 90%of the globe population lives there. Also, 90%Co2 is pumped out of industry in northern hemisphere yet we tear our country apart on cutting emissions that kills our industry and jobs..
    Just be careful JB and clear that brain before worrying about others and do some reading JB !

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