<
https://theconversation.com/taking-from-the-young-giving-to-the-old-how-our-tax-system-is-letting-us-down-263258>
"Australians are retiring with unprecedented levels of wealth. This wealth,
which is primarily held in housing, investment properties and superannuation,
allows retirees to draw incomes to support their retirement.
As Australians have become wealthier, we might expect government spending on
social safety nets for older Australians to fall. Instead, we have seen these
programs grow in real, per-person terms.
The overall result is older Australians have much higher incomes than previous
generations of retirees. The average 75-year-old’s post-tax and transfer income
25 years ago was little more than 75% of an average Australian income. Today it
equals the average Australian income.
Older Australians also enjoy a post-tax income one third higher than
Australians aged 18–30.
This astonishing fact points to flaws in our tax and transfer system."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
