Dear me, the Pension Loan Scheme will be expanded to make it easy for reverse mortgage for all people, not just pensioners. No one would need to sell up. That is complete and utter bullshit!
A hospital operation in Australia is free under public health or free under private medical insurance. Doh!
A free hospital operation under public health in Australia is undertaken under Australia's welfare state policy and constitutes "welfare". You say your policy applies to "All welfare, not just pensioners, of course...". As such, under your scheme where you suggest no welfare for owners of $1m houses (here), free hospital operations will not be available to ANY home owner of a $1m home regardless of their age.
Your suggestion of "reverse mortgage for all people" is nonsensical. By definition a reverse mortgage requires no mortgage payments. No government or private entity would ever consider such a ludicrous proposition.
Your now extended position is exposed. You wish to deny "All welfare" to all people who own a home worth $1m. That means no free health care, no sickness benefit, no free child education, no family tax benefits, no school transport in rural areas etc etc.
Edit add: I suspect that your desire for such policy arises from becoming bitter and twisted as a result of your divorce under which you lost your personal home ownership.
A free hospital operation under public health in Australia is undertaken under Australia's welfare state policy and constitutes "welfare". You say your policy applies to "All welfare, not just pensioners, of course...". As such, under your scheme where you suggest no welfare for owners of $1m houses (here), free hospital operations will not be available to ANY home owner of a $1m home regardless of their age.
Your suggestion of "reverse mortgage for all people" is nonsensical. By definition a reverse mortgage requires no mortgage payments. No government or private entity would ever consider such a ludicrous proposition.
Your now extended position is exposed. You wish to deny "All welfare" to all people who own a home worth $1m. That means no free health care, no sickness benefit, no free child education, no family tax benefits, no school transport in rural areas etc etc.
Edit add: I suspect that your desire for such policy arises from becoming bitter and twisted as a result of your divorce under which you lost your personal home ownership.
A long bow indeed Stringy....
Health, Education are not welfare. Welfare is 'money' from the state directly to the individual hip pocket. But go ahead, making shit up if it suits your narrative.
Lost my home? I gave my home away. No bitterness or twisted feelings at all. Quite the opposite.
Health, Education are not welfare. Welfare is 'money' from the state directly to the individual hip pocket.
Having your own personal definitions of words in common usage will give you severe communication problems. Free health and education are both services universally regarded as services of a welfare state.
Your view is anyhow nonsensical. You are saying that state provided stuff not in the form of A$, like temporary housing and food is not welfare.
Edit add: I suspect that your desire for such policy arises from becoming bitter and twisted as a result of your divorce under which you lost your personal home ownership.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
The main objective is to not have to increase tax on workers to pay for a pension budget growing at 7% per year.
So when is it predicted that the aged pension budget will begin to increase by 7% pa? By whom? And for how long? Plus when might it cease increasing by 7% pa? According to their predictions.
But I digress.
Regarding the guts of your statement that this is about ensuring 'the workers' do not have to pay increased taxes to support the aged pensioners, I suspect the youngies mightn't fall for that line.
If they have a half reasonable whack of common sense (and one in my family does; the other less so at this time) they'll see it for what it is.
Additionally I note that you felt to stick to politicking rather than choose to explore the likely long term ramifications of such a policy.
And I also note that you seem to be a pretty big fan of the German model where the home ownership rate is around 40%
PS: I think I'd personally be a bit embarrassed to be a member of one of the supposed independent think tanks/'brains trusts' of the nation if the best we can come up with to get by going forward is that we dis-incentivise home ownership in the future and all stick our sticky little fingers into the wealth that has been accumulated by the nation's current and future home owners upon their retirement. I'd have hoped for something a bit more 'wealth creation' orientated myself. Rather than 'wealth consumption' orientated.
It seems odd to me that pauk should think that someone who has failed to provide for their own accommodation in their post work years (and spent none of their lifetime earnings to provide such accommodation) is more deserving of a government pension than someone who devoted much of their own lifetime earnings to accommodation for their post work years.
You were farting rainbows at seeing your home taken from you?
No. I left, I gave. I also kept one commercial. All good.
I chose not to buy a PPOR after that for mobility and lifestyle.
I still think I may not but a PPOR until I retire, although I am still keen to build another property. Who knows?
So if I buy or build a $2.5 million PPOR to retire in, you are happy to pay me the full pension of $33,800, even if I still keep $291,500 cash to play with?
So if I buy or build a $2.5 million PPOR to retire in, you are happy to pay me the full pension of $33,800, even if I still keep $291,500 cash to play with?
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