As it's more than 100 days now, it has been suggested that a new thread was needed. The current govt has been breaking promises and telling lies at a rate so fast it's hard to keep up.
This below is worrying, "independent" pffft, as if your own doctor is somehow what? biased, it's ridiculous. So far there is talk of only including people under a certain age 30-35, for now. Remember that if your injured in a car, injured at work or get ill, you too might need to go on the DSP. They have done a similar think in the UK with devastating consequences.
and this is the 2nd time recently where the Govt has referred to work as welfare???? So when you go to work tomorrow (or tuesday), just remember that's welfare.
http://www.abc.net.au/news/2014-04-20/disability-pensioners-may-be-reassessed-kevin-andrews/5400598
Independent doctors could be called in to reassess disability pensioners, Federal Government says
The Federal Government is considering using independent doctors to examine disability pensioners and assess whether they should continue to receive payments.
Currently family doctors provide reports supporting claims for the Disability Support Pension (DSP).
But Social Services Minister Kevin Andrews is considering a measure that would see independent doctors reassess eligibility.
"We are concerned that where people can work, the best form of welfare is work," Mr Andrews said at a press conference.
It could be an interesting graph D9275 (property boom graph), if you added some comments, and also a y-axis scale/title.
So Australia "leads", have you considered that property can be viewed as an asset, in conjunction with a mortgage, then further note a previous post comment : "One in three home buyers at present is an investor." ?.
Hint:- savings, albeit long term.
"Thank heavens they don't save,otherwise half of the country's businesses would shut down.You gotta keep spending if you want a 24/7 economy."
That is silly! and why compulsory superannuation is part of our economic scenario: because some children always tend to spend their pocket-money without parental guidance.
With a business, cash reserves are important (or a line of debt financing) in order to continue/trade (reserves and savings are not the same)
It took the GFC to make people realise that having some savings is advantageous.
"how we got from low household savings to super I have no idea..."
Actually covered earlier, however If you research (sorry) Keating's notable contributions (1992) you might find a description of the "Superannuation Guarantee" which was comprised of "three pillars", one of which was :
"Private savings generated through compulsory contributions to superannuation"
You might notice "savings" and "superannuation", thus the link !
"what EXACTLY are you trying to say??"
If you check you will find that my assertion is that "they" don't save unless it is compulsory (superannuation) or that they had a scare as a result of the GFC, not that: "they are unable to save".
Do you actually believe that if there was no compulsory "super" and the monies were realised as extra wages "they" would be saving the extra?, I do not.
"then you say that i in 3 have investment properties... OK so last time I checked 67% of the Aus. population own their own homes, if they have purchased an investment property as well... then that is also classed as 'savings" as they would be paying these investments off... I find your posts to be a bit contradictory"
Also difficult to follow it appears? because I wrote:
"have you considered that property can be viewed as an asset, in conjunction with a mortgage, then further note a previous post comment : "One in three home buyers at present is an investor." ?.
Hint:- savings, albeit long term.
This might help an appreciation of the various terms:
Saving is calculated as the difference between disposable income and consumption.
Household disposable income consists essentially of income from employment and from the operation of unincorporated enterprises, plus receipts of interest, dividends and social benefits minus payments of current taxes, interest and social contributions. Note that enterprise income includes imputed rents paid by owner-occupiers of dwellings.
Household consumption expenditure consists mainly of cash outlays for consumer goods and services but it also includes the imputed expenditures that owner occupiers pay, as occupiers, to themselves as owners of their dwellings and the production of goods for own-final use such as agricultural products - the values of which are also included in income.
The household saving rate is calculated as the ratio of household saving to household disposable income (plus the change in net equity of households in pension funds).
Australian households are the most indebted in the world, according to research by Barclays, which warns that the country would be vulnerable in the event of another global financial shock.
Simply put, we have a lot of debt with a private sector debt-to-income gearing ratio of over 200%. Having a lot of debt which includes mortgaged investment properties (also owner occupied) would be problematic if interest rates rise, or we have our own mini GFC. Properties are no use as savings if their value falls and mortgage costs rise, or one requires short term funds.
"Never having ever paid a cent in CC interest, I find these figures mind boggling:
Currently Australians owe on credit cards around $32 billion, that's an average of around $4,300 per card holder.
The average card holder is paying around $700 in interest per year if their interest rate is between 15 to 20%.
No real difference to arguing with C&P's, or definitive comments that might be a "minor error on my part" !
