hawil wrote on Jul 22
nd, 2010 at 1:16pm:
Discussion Questions
1. Are there things we can do to get the population issue more into public discussion?
2. Are there other approaches to limiting population that might be more salable?
3. If Social Security is not sustainable, having fewer children will increase the likelihood that older adults will have no way of taking care of themselves. How does one deal with this issue?
1. Rather than spending much time to post here, which is read by very few people, it would maybe have more effect to contact our leaders, after all they still make some far-reaching decisions in this regard.
2.if anybody thinks that the population can go on growing forever, he/she is fooling herself, and even if they are the people who profit from it.
3.Social security in Australia is skewed towards the top 30% of income and wealth population.
Take someone who owns 40000 TLS shares, has a Self Managed Super Fund and is over sixty year of age, he/she will get some $120,000 in dividends annually, and as he/she does not have to pay tax, the government will send them another cheque for $30,000, for the dividend imputation, and as he/she does not have to put the income on the tax return, they can have additional assets of some 15-20 thousand in the bank and still not pay any tax.
Compare this to a person who paid into a defined benefit super here in Australia or overseas in a country where they had compulsory super, but no means-testing, for the last 60 or more years, when his/her income exceeds $6500, they will lose $0.50 of Centrelink pension, which is paid out of taxes which they paid while they were in the workforce, and should a couples combined income exceed $40,000 per annum, they will pay $0.315 in tax including medicare levy.
2. More saleable? To be honest, I doubt it, the prevalling attitude is one of, if it is going to affect ME, then it's not going to happen!
3. It should have started being dealt with about 40 years ago, with governments setting up programs, such as the Super Guarantee, started in OZ, but not until around 1990.
Although OZ started, it did not start early enough and the Liberals then stopped the progression thru from 9%, to 15% & more, which should have happened, to more fully fund the Baby Boomer retirements.
That said, Australia at least did something, the rest of the world & the USA in particular, did nothing, with the result that the majority of their people now have very, very little in the way of Funds or assets, with the housing market having collapsed, along with the shahe markets and governments with Debt coming out of every orifice.
On top of that, there are several other tsunami's impacting or about to impact and I simply can see any Hollywood ending?
Btw, your Telstra example may have a few floors, as the dividends would be nowhere near $120,000 annually. In fact the total share price today would only be about $128,000 for 40,000 shares (@ $3.20 today), having fallen from nearly $5.00 a share at their recent top on 27/02/2008.
1. Talk about it, at every opportunity, in every forum possible, in person, by letter or electronically!
Just don't expect to many, particularly Politicians or Economists to agree with you, let alone put anything into action!
But, also remember, Aging is not the only issue, there is also Peak Energy, Over-Population (&Population Decline), Debt Mountains & Climate Change, all requiring "their fix"!