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The "age of entitlement" in Western countries was over
Topic Started: 19 Apr 2012, 11:21 PM (2,198 Views)
Black Panther
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Joe Hockey flags welfare cuts

AAP
April 19, 2012 12:00AM

OPPOSITION Treasury spokesman Joe Hockey has indicated a Coalition government would look at cutting welfare and other entitlements to offset lower personal income and business taxes.

Mr Hockey told policymakers in Europe the "age of entitlement" in Western countries was over.

"We are all living longer and the longer we rely on government handouts, the greater the burden for taxpayers and particularly those that follow," he told ABC TV from London after his speech.

But he said the problem in Australia was not as bad as many European countries where 20-30 per cent of the gross domestic product (GDP) was government welfare spending.

In Australia, the level is only 16 per cent of GDP.

However, Mr Hockey though there was still work to be done to reduce this.

"We need to compare ourselves with our Asian neighbours where the entitlements programs of the state are far less than they are in Australia," he said.

"If we talk about the Asian century ... then the Asian countries are our competition, our children's competition."

Read more: http://www.news.com.au/national/joe-hockey-flags-welfare-cuts/story-e6frfkvr-1226332171883#ixzz1sUKfds3Z

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jester77
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So welfare he will cut, but not negative gearing where my tax dollars goes to making some idiot who borrowed too much money richer?
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justin007
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"Government-funded pensions must be means tested"


-Absolutely no argument here.

The tone of his statements are a little concerning though..

Looks like the politicians are finally coming to grips with the fact that asia, without doubt is the new world of prosperity for the foreseeable future.
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justin007
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jester77
19 Apr 2012, 11:30 PM
So welfare he will cut, but not negative gearing where my tax dollars goes to making some idiot who borrowed too much money richer?
Yep, and that is the best case scenario with the Libs getting in.

No one will touch NG.. too many parties involved and too many votes to be lost
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peter fraser
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justin007
19 Apr 2012, 11:38 PM
jester77
19 Apr 2012, 11:30 PM
So welfare he will cut, but not negative gearing where my tax dollars goes to making some idiot who borrowed too much money richer?
Yep, and that is the best case scenario with the Libs getting in.

No one will touch NG.. too many parties involved and too many votes to be lost
as "flawse" over at macro would say "the answer lies back in time"

There is so much government income dependant on housing, it's all too much to unravel - you would have to erase it all and start again.

Any expressed market opinion is my own and is not to be taken as financial advice
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Mike
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I recall a conversation with my wife back in 2005. We talked about this very topic, European welfare state. I said back then it was not sustainable and in time would bankrupt Europe, she argued about all the services and infrastructure and how wonderful Europe was (being from Europe herself). Needless to say I have had a smile on my face the last few years as Europe went down the drain, proving I was right in the debate. For those married men out there you know this dose not happen often, A woman admitting she was wrong.
Edited by Mike, 20 Apr 2012, 12:00 AM.
http://mike-globaleconomy.blogspot.com.au/
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justin007
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PF i have said this before on another forum, but you really need to start a small blog project..

I'm sure it would be appreciated by many.

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audas
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peter fraser
19 Apr 2012, 11:57 PM
as "flawse" over at macro would say "the answer lies back in time"

There is so much government income dependant on housing, it's all too much to unravel - you would have to erase it all and start again.
You've lost your shit.
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audas
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justin007
20 Apr 2012, 12:35 AM
PF i have said this before on another forum, but you really need to start a small blog project..

I'm sure it would be appreciated by many.

Andrew Bolt is about the only one - and he is fairly self reflective already.
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audas
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audas
20 Apr 2012, 05:08 AM
Andrew Bolt is about the only one - and he is fairly self reflective already.
Its funny Im seeing this thread here - we all know that there are several of the same on this forum, while at least pF has the honesty to be himself on both.


I dont.


Im just ashamed of my fellow brothers. You are my friends - all of you - its our nation we are destroying in our pursuit of personal wealth.


Im wondering if I offer millions - will some of you turn to honest opinions - seriously ? I am starting to be ashamed - and maybe - millions might make a difference.
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