Search Results: superannuation

  • ECONOMICS

    Super's evil empire on shaky ground

    • Brian Toohey
    • 11 June 2014
    15 Comments

    The superannuation industry inhabits a cosseted world in which the money pours in thanks to a combination of government compulsion and tax concessions. The foundations of this empire are criticised for how the tax concessions create an expensive form of upper class welfare, and for the harmful effect of compulsory super's artificial expansion of the finance sector. The Abbott Government shows scant concern about either aspect.

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  • ECONOMICS

    Blessed are the moneymakers

    • David James
    • 16 May 2014
    9 Comments

    The 2014 Federal Budget has created a new hierarchy of virtue in Australian society, with well off investors deemed to be good and the disadvantaged bad. It is not so much class war as a war between capital and the rest of society. Those wielding significant capital are useful, while those who can save little, and have little to invest, are considered a burden.

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  • AUSTRALIA

    Whose rule book is Abbott playing from?

    • Neil Ormerod
    • 15 May 2014
    48 Comments

    It took John Howard until his third term before he let his personal leanings completely off the leash. It led to his electoral demise. Abbott is doing much the same in his first term, over-reaching, thinking himself invulnerable to a political backlash. Whereas Machiavelli's prince could rule through force, Abbott must face an electorate whose trust in political promises has been completely eroded. Our political system will take a long time to recover.

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  • AUSTRALIA

    Move over Lance Armstrong, the Budget is coming

    • Andrew Hamilton
    • 08 May 2014
    13 Comments

    Heightened competitiveness does not foster interest in the common good but creates a narrow focus on the interests of the individual. The use of drugs in cycling illustrates the point. Doing what it takes meant taking competition out of the game by excluding competitors from the possibility of winning. In Australian politics the cult of competitiveness has led to a rigged competition in which the national interest will not be served.

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  • ECONOMICS

    Whose liberty matters as Dickensian budget looms?

    • Fatima Measham
    • 07 May 2014
    16 Comments

    French economist Thomas Piketty argues that current conditions have set us on track for a return to 19th century-levels of inequality. The Commission of Audit proposals suggest that the auditors and the Government are keen to expedite this neo-Dickensian era. It's all done in the name of 'incentives' toward 'personal responsibility', but this cannot remain coherent in the face of those who will be hit hard by the proposed suite of cuts and co-payments.

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  • ECONOMICS

    Abbott and Hockey more Prince John than Robin Hood

    • David James
    • 05 May 2014
    11 Comments

    In politics, one should never opt for a balanced and thoughtful description of the truth when wild exaggerations will do. Especially when you want to take from the poor and give to, if not exactly the rich, at least the investor class. The dire pronouncements from the Abbott Government in response to the Commission of Audit's 86 recommendations reflect not only the PM's relentless negativity, but also more than a whiff of class war.

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  • AUSTRALIA

    What Pope Francis thinks about Abbott's Audit

    • Michael Mullins
    • 05 May 2014
    17 Comments

    The National Commission of Audit believes spending cuts that produce a balanced Budget will make us all better off because we will have a stronger economy and more jobs. But Pope Francis is skeptical about such 'trickle-down' economic theories, which express 'a crude and naive trust in the goodness of those wielding economic power'.

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  • AUSTRALIA

    The GST and Abbott's fair go for all

    • Michael Mullins
    • 07 April 2014
    7 Comments

    Federal Treasury secretary Martin Parkinson has called on the Government to increase the GST. In isolation this would hurt the poor and benefit the rich. But it could help the common good if it is part of a tax reform package that cuts tax avoidance strategies for high income earners, including superannuation concessions, negative gearing and trusts.

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  • ECONOMICS

    Don't rob the poor to pay the rich

    • Bruce Duncan
    • 04 February 2014
    14 Comments

    The budget problems are not caused by Newstart or disability pensions, which have been declining as a proportion of economic activity. Had the Howard Government not been so generous with its tax cuts to upper and middle income groups, there would today be no budget deficit.

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  • AUSTRALIA

    Best of 2013: Australian democracy needs an intrusion of the excluded

    • John Falzon
    • 16 January 2014
    1 Comment

    Kevin Rudd says we need a 'new politics' or a 'new way'. Tony Abbott says we'll only get a new way by electing a new government. What is missing in both statements is the recognition that what we actually need is a new kind of economic democracy: a reconfiguration of our economic prioritising away from individualism towards the common good, and towards the participation of all rather than the exclusion of many.

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  • INTERNATIONAL

    El Salvador suffers Australia's maleficent miners

    • Andrew Hamilton
    • 28 November 2013
    16 Comments

    El Salvador is a small, largely agricultural society, with one of the highest population densities in the world. A largely Australian owned mining company proposes to mine for gold there, at great social and environmental cost to the local population. In Australia the wellbeing of people in areas affected by mining is central in the granting of permits. Are we willing to accept a lowering of standards for the overseas operations of Australian companies?

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  • ECONOMICS

    Change tax tack to take power back

    • Jean-Paul Gagnon
    • 18 November 2013
    15 Comments

    What if citizens were given the chance to fill out a preference form online as part of their own personal, digital tax portal? You could choose to pick 'below the line' and individually choose what your tax money can and can't be spent on. For example you might like to spend on funding public schools, the bullet train, hospital supplies and museums, and not to spend on nuclear power plants, weapons development, or the automotive industry subsidy.

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