Are you prepared to work until you are 70?

[i-need-a-martini]

There is no way I will be. I am not planning to work beyond 55!

But it won't affect people like me will it? I have my own plans and they will be self funded.

So once again, it will be those less fortunate and less able to take care of themselves who will suffer.

[amber-eyed-girl]

Spot, with regards to a Keating-led government, there would have been capital gains tax on the family home, and death duties.

The first affects everyone, as we all need a home, and during our lives, usually move at least once, where we need to buy another home; we are not realising profits as a rule, so that's an imposition...the second, well, what's left after the rich have set up trusts and companies? They do not "own" anything. So back into the pockets of the rest of us, so little can be left for our children.

Best not to say what if?

Rather say...it could have been worse, you never know.

Paul Keating set up his personal finances very nicely, just like the rest of them. Not all of us have that luxury.

[amber-eyed-girl]

It is related to the pension discussion, as the retired are the most likely to free up cash by downsizing, while those younger tend to increase home equity through needing more space over time.

So, families would be hit by the CGT as they move to a bigger home.

The elderly would see their profits stripped after a downsize, which might have been needed to support them comfortably.

This is the negative impact I see if Keating had been able to take full control and impose CGT on the family home, which Hawke would not allow.

I believe these measures would have been introduced if Keating had more time as PM, as you suggested in your post 🙂

[freakiness]

At a glance

• Australia has one of the smallest welfare budgets in the OECD
• The level spent on benefits in Australia now is slightly below where it was in 2003
• Reducing welfare spending tends to hurt low-income earners
• Tax concessions for superannuation see the government foregoing around $27.6bn in revenue

A good article by Greg Jericho, about the so called age of entitlement and the misleading by hockey.

http://www.abc.net.au/news/2014-04-16/jericho-hardly-the-land-where-entitlement-runs-riot/5391558

[donnashuggy]

[polksaladallie]

This may well happen in the future.

Actuaries Institute: pension age should lift to 73

http://www.abc.net.au/radionational/programs/breakfast/actuaries-institute-pension-age-should-lift-t...

[fourandsixpants]

ref. polks

This may well happen in the future.

Actuaries Institute: pension age should lift to 73

http://www.abc.net.au/radionational/programs/breakfast/actuaries-institute-pension-age-should-lift-t...

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I would like to have the knowledge to calculate the impact of risk and uncertainty during DB's flight if an aimed and hefty weighted object should collide with him..........