Super and other government rorts. From the Aust Taxpayers Alliance

Losing over half your life’s earnings to taxes and then being slugged with another 25% on your retirement income is a rough deal. This month, the ATA published our report exposing our superannuation system is in dire straits and provided three simple solutions to give Australians a bigger buffer in their golden years. Policy Researcher Xin Yuan Quek, who assisted Policy Director Emilie Dye, also provided a ‘layman’s terms’ writeup in The Spectator succinctly explaining the situation.

And from Danistan, the People’s Republic of Victoria.

Meet the ATA.

 

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36 Responses to Super and other government rorts. From the Aust Taxpayers Alliance

  1. feelthebern says:

    Trackless Tram.

    So a bus.

    h/t Iowahawk

  2. Cynic of A says:

    As I said before her on the Cats (and… got into a lot of trouble for it!) I really do not have a problem with compulsory Super.
    I do have a problem with too may people living high on the hog with the money.
    I do have a problem with governments moaning about the Old Age Pension (for us, not them) and the solution is to have compulsory saving, but they still insist on those savings being taxed.

  3. Mark M says:

    How much tax payer money can you waste (besides paying AlGore $320,000)

    Start here (we’re saved):

    “The Office of the Queensland Chief Scientist and CitySmart are hosting a Sustainability and Science Showcase to highlight the latest research, actions and ideas to help Queenslanders do their bit to protect the planet.”

    https://www.citysmart.com.au/showcase/sri2021/

    Sustainability: the Golden Calf of the green doomsday global warming cult.

  4. John A says:

    feelthebern says: June 14, 2021, at 10:31 am

    Trackless Tram.

    So a bus.

    h/t Iowahawk

    The image gives it more of the appearance of a Road Train…but that expression is already taken.

    It is certainly something which can take us for a ride, though.

  5. Bruce of Newcastle says:

    Climate change will be disastrous to our super, disastrous!

    Climate change is impacting retirement plans. How older Americans are adapting (11 Jun, via CD)

    Another client in Austin suffered from the region’s deep freeze and power outages in February. When pipes froze and their condo flooded, they started to question their long-term plans, McGlothlin said.

    With the possibility of another cold snap, more home damage or future displacement, they are reconsidering where they are living. But there’s a problem: The unit may not fetch the same price post-flood, he said.

    That’s weird, I thought global warming was supposed to cause, well, warming.

    De nada. They are correct though in a sense, since that giant sucking sound you hear is your super disappearing down the plughole into shonky green investments.

  6. Botswana O'Hooligan says:

    Super should be scrapped entirely and an aged pension given to all all, be they a prince or a pauper at retirement would resolve the problem, OR a pension the amount determined by the amount of income tax paid during a working life would be even better for that would encourage those on the dole or whatever scam they are using to gain taxpayers loot, to work and pay tax. Any endeavour the government can control or influence in the slightest way should be avoided at all costs, and super is one of them.

  7. Up The Workers! says:

    “Trackless Tram”?
    Sounds a lot like our trackless, clueless Labor Misgovernment in Mogadishu-On-The-Yarra.

    Will it come with its own exploding-joke ticketing system like the shambolic Labor Party Billion dollar “exploding-joke Myki ticketing “system” did?

  8. Terry Pedersen says:

    The trackless trams have many advantages over existing tram/light rail systems and are also being planned for operation in NSW and Western Australia.

  9. Leo G says:

    Trackless Tram.
    So a bus.

    Only if it has wheels.

  10. Rex Anger says:

    The trackless trams have many advantages over existing tram/light rail systems and are also being planned for operation in NSW and Western Australia.

    Uh-huh.

    Last tram ran here in 1958, Grigory. And the last semi-serious attempt to introduce them was under Colin Barnett in about 2012. And that was laughed back onto the drawing board.

  11. Rex Anger says:

    Trackless Tram.

    So a bus.

    Correct.

    The boondoggle-mobile above is a take on the old trolley-bus idea, but without the inherent flexibility of the original design, and all the drawbacks of a large, articulated tram. Except you allegedly do not need to rip up your street surfaces and pavement to lay tracks…

  12. Bruce of Newcastle says:

    If an electric bus goes up like a bomb, what does a battery operated tram do when it gets excited?

    Huge fire burns down electric ferry buses in China (15 May)

  13. min says:

    Well hope they go around corners as the last lot ordered could not . Anyway they got some locals to paint them in indigenous art so at least they look pretty.

  14. Bad Samaritan says:

    Super is nothing but a rort. Just another scare campaign (‘you’ll live in abject poverty without it we tell’s ya!”) for govt-connected tax-hoovereres to fleece the masses.

    Why would anyone actually need 70+% of their average working income when they retire with no bludging offspring burdening them, and no more mortgages to pay?

    As far as I can tell, the average retired person used to try to blow their dough on expensive overseas trips and not much else. I’m guessing this will not be the case ever again, so what will the dough be squandered on next, eh?

    Any Cat got ideas what to do with the 70+%? Let’s say $2000 a week…

    BTW: If there’s one thing the fake pandemic has shown us is that throwing money around on “cultural” activities is greatly over-rated, and can easily be lived without. So what to do with my millions in super, now?

  15. Rex Anger says:

    Any Cat got ideas what to do with the 70+%? Let’s say $2000 a week…

    Server farms, non-MSM media sources, any firm that explicitly declares itself anti-SJW in its culture. Aside from the usual tropes of guns, gold and errr….

    If you wanna fund the yartz, better to do it directly thru sites like Patreon or KickStarter.

    Now, both sites listed above have proven vulnerable to leftwit standover tactics, but there are plenty of direct equivalents out there you can use to contact worthy projects.

    Or even donate directly to groups like Quadrant or Spectator.

    The age of Government as sole Patron is coming to a close.

  16. mareeS says:

    Our SMSF works just fine for us. Income is good, tax-exempt, fees are wholesale, we were lucky to set up under Peter Costello as Treasurer, and included our kids once they turned 18. It also helps to have an excellent advisory firm that involves us in all decisions, and recognises our own past business and investment experience.

    I certainly would not like to be at the mercy of any of the major industry super funds. They are in control of way too much money, whereas we have just our own to nurture along. Industry super has been on of Labor’s greatest cons.

  17. Bruce says:

    Those of us with a scant knowledge of history are utterly unsurprised about the threat to super.

    There are precedents.

    When the Commonwealth took taxing away from the States, there was something in the wind. (Apart from WW2, which was the “justification” for transferring those powers “for the duration”. Waiting…..still waiting….for that duration to expire.

    Taxation paperwork of the times were usually titled; “Income Tax and PENSION CONTRIBUTION” Form, or somesuch.

    There were more “adjustments” in the 1950s.

    The reason we go “Compulsory Superannuation’ was that the pollie-muppets and “Pubic Serpents’ were “redistributing” the loot faster than it was being stolen from the punters.

    And now, there is an enormous, very tempting bag of loot, just sitting there for the taking.

    I recently found a couple of my parents old ration cards. These were REQUIRED into the early 1950s.

    I doubt that there is a court in the land that would allow a redemption on them, however. Probably look the other way if someone tried to push the matter and was taken round the back of the virtual bike-shed for some “extra-legals” for their troubles.

    See also: “Situational Ethics”.

    Cynical? Moi?

    Just realistic.

  18. Bad Samaritan says:

    Rex (12.29pm). Thanks, but I think what I’m getting at is that aside from a smallish “nest egg”….. a couple of hundred grand maybe….the Age Pension is more than enough to do well on when your living expenses are bugger-all.

    The entire propaganda blitz behind Super tries to make out that you’ll need a similar amount of income when you retire, compared to what you got when working. This is to frighten you into giving the SuperFunds much more than you should. A scam from the very get-go!

    BTW: Already got the gold; physical and stashed (see nest egg above). Why would I fund the yartz when you can pick up any number of good books + music for cheap or free almost anywhere these days. All the good stuff’s already been done!

  19. Terry Pedersen says:

    If an electric bus goes up like a bomb, what does a battery operated tram do when it gets excited?

    Lol. Same as non-electric buses. Like these.

    Yawn.

  20. Boambee John says:

    Perry Tediousen is totally unaware of the difference between a diesel fire and a lithium battery fire.

    Do some more Googling, before you embarrass yourself again nitwit.

  21. Rex Anger says:

    Why would I fund the yartz when you can pick up any number of good books + music for cheap or free almost anywhere these days. All the good stuff’s already been done!

    I say ‘yartz’ as a catch-all term. Certain pundits of our mutually preferred persuasion have chosen to go to mostly self-funded podcasting to get around YouTube censorship. And many otherwise interesting film and game and story ideas, etc. are seeking independent funding for fhe same reasons. The Cathedral of Woke is more restrictive in its approved mesthods of expression than the old Soviet Glavlit used to be.

    You never know, you just might stumble on something you like one day.

    I also classify something like the Cat as ‘yartz’ under this category. While Sinc runs this site as his concern, you may find something that welcomes donations (other than precious stones, slaves, rare earth metals and virgin sacrifices…) 😉

  22. m0nty says:

    They should rename themselves as the Australian Boomer Alliance and be truthful about it.

  23. Rex Anger says:

    They should rename themselves as the Australian Boomer Alliance and be truthful about it.

    Why? I don’t see any official spruiking of Ballistic Missile Submarines, m0ntard?

    I think it would be a great idea though. Our own nuclear triad may very well become necessary at some stage…

    (Orbiting autonomous B52- Or a modern equivalent- Cruise Missile carriers, packing both conventional and nuclear-tipped weapons for the aerial component…)

  24. Adelagado says:

    A trackless tram… that requires its own lane. But not just any old lane… a very expensively engineered, deep foundation, concrete lane that can take the constant traffic of heavy, many-wheeled, vehicles travelling hundreds of times on EXACTLY the same path every week. I can’t see any problems with that.

    (The Simpsons monorail scam episode comes to mind.)

  25. Richard says:

    This sounds eerily familiar.

    PS. I used to love Phil Hartman, I found him hysterical.

  26. Rex Anger says:

    @ Adelagado-

    Correct, my good man!

    At least with a traditional trolleybus, you need only put up the trolley wires and electrical switchgear…

    …Or just stick with traditional ICE buses. Which do the same job without all the messy overheads.

    (They don’t accelerate anywhere near as well as the old trolleybuses, though)

  27. W Hogg says:

    m0nty says:
    June 14, 2021 at 1:35 pm
    They should rename themselves as the Australian Boomer Alliance and be truthful about it.

    Fuckwit thinks only Boomers pay tax. And no doubt that would be from observation of his cohort.

  28. Bruce says:

    @ Richard:

    Lots of jostling for the role of Harold Hill?

    ” “Trouble” with a capital “T”,
    That’s like ,er, “T”
    That stands for “Tram” . (Trackless, that is).”

    Never mind that “Hamilton” musical; this rock-show has endless promise. (Like most politicians).

    Now, where are those ‘Hundred and ten Cornets? They’re supposed to be right behind the seventy-six trombones.

  29. Paul says:

    I cracked up every time I see the compare the pair super industry funds ads.

    Join the industry super fund and by the time you retire in 15 years your nest egg will be some $340K, compared to others about 20k to 30 K less.
    Big deal, $300k is a pathetic nest egg.

    No wonder people invest it into their tax free homes.

  30. Bruce of Newcastle says:

    Terry – As I explained elsewhere, diesel fires require ingress of oxygen to support combustion, so they tend to be slow, giving time for the passengers to get out.

    Battery fires like the one in the video are very different because the fuel and the oxidizer are both present, separated by a thin membrane. So a short can literally set the battery pack off like a bomb. Within a second or two the first bus was an inferno.

    The battery pack for an electric tram/trolleybus is commensurately bigger. Better sit right next to the exit if you ride in one of Gladys’ trams when they get older.

  31. Terry Pedersen says:

    Bruce – elsewhere is so … elsewhere. I didn’t bother with a screen capture of your initial goal posts position.

  32. Boambee John says:

    Terry Pedersen says:
    June 14, 2021 at 5:35 pm
    Bruce – elsewhere is so … elsewhere. I didn’t bother with a screen capture of your initial goal posts position.

    Is Perry Tediousen conceding that he hasn’t a clue on the subject of burning lithium batteries?

  33. Dot says:

    Forester says:
    June 14, 2021 at 3:23 pm
    An oldie but goodie:

    Guest Post: Is superannuation a communist plot

    I like the way that author thinks!

  34. Bad Samaritan says:

    Paul (3.28pm). That “piddling” nest egg is cash, whereas the home is not…..unless you sell it or go into some sort of reverse mortgage, which is still relatively uncommon.

    If a home-owner with no kids cannot live on $500 per week pension, and having the three hundred grand in reserve for one-off-larger-outlays….there is something seriously wrong.

    BTW: Always read the fine print on the bottom of the screen when watching those “cupped-hand” ads: “past results are no guarantee of future returns”! A con rolled in a scam, sitting on a ponzi scheme!

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