Trenchant Lemmings
"Arrive in a clown car, bursting with anger."
YOUR HOST
Robert Weaver
PRESENT LOCATION
Sydney, Australia
OTHER STUFF
Old Weblog
LibraryThing
23hq Photos
ARCHIVES
NAVIGATION
Older Posts | Newer Posts
PREVIOUSLY
Reproducibility
Taxonomise!
Nice People
Secondary Strike
Reveal
Like
For Example
Dictator
Conducting
Cultural Capital
FEED
blogurl/feeds/posts/full
blogurl/atom.xml
ELSEWHERE
3 Quarks Daily
A Tiny Revolution
Alicublog
Bad Astronomy
Blogarach
Boing Boing
Caustic Cover Critic
Chase Me Ladies, I'm in the Cavalry
Counterpunch
The Early Days of a Better Nation
Ecstatic Days
Empire Burlesque
Exiled Online
The Failed Estate
FAIR Blog
Neil Gaiman
M. John Harrison
The Inferior 4 + 1
Inside Story
Jews Sans Frontieres
Laughing Squid
Lenin's Tomb
Limited Inc.
Antony Loewenstein
The Loom
LRB Blog
Nick Mamatas
Mind Hacks
Neurocritic
Neuroskeptic
Overland
Greg Palast
Riddled
Savage Minds
Mark Steel
Strange Maps
Michael Swanwick
Things Magazine
TomDispatch
Ben Tripp
Verso Blog
Peter Watts
Whatever It Is, I'm Against It
ELSEWHERE ARCHIVE
Bats Left, Throws Right
Deltoid
Drawn!
Eyeteeth
Fafblog!
Larvatus Prodeo
Lawrence of Cyberia
China Miéville
News from the Zona
Dennis Perrin
Pink Tentacle
Adam Roberts
Quotidian Hell
Matt Taibbi
Unspeak
 
The weblog description is a misquotation from Steve Aylett's Indicted to a Party: What to Do, Who to Blame.
 
The weblog title links to the "No Country Redirect" version, for whatever that might be worth.
July 23, 2013
Retirement

The Australian government is currently spending about $32 billion per year on superannuation tax expenditures (taxation based incentives for superannuation contributions). It has been estimated, by the superannuation industry, that this $32 billion in tax expenditures is currently saving the government about $7 billion in pension costs. So, if we dumped all of the superannuation tax concessions, we could not only provide pensions to all of those who would become eligible but also increase payments to provide a more comfortable retirement.

...

About 38 per cent of the superannuation tax expenditure goes to the wealthiest 10 per cent, which means that by 2014–15 the top 10 per cent of income earners will receive over $17 billion in tax concessions. So why exactly are we planning to spend $17 billion per year helping the wealthiest Australians save for their retirement?
- Warwick Smith at Overland.


Older Posts | Newer Posts