Quote Originally Posted by wombat2u2004 View Post
Yeah. Well I suppose one of the big problems is how the country is going to sustain an ageing population. I believe people of our age group are sort of at the crossroads. I assume the USA and Australia are sort of similar in the way things are run, and how they can approach a problem like this.
Compulsory superannuation was introduced here in Australia about 18 years ago, before that, some people had superannuation, but most didn't, because most people believed that when they reached 65 for men or 60 for women, they would get their old aged pension. It's always been that way, so you can't blame people for not providing for their own retirement. Yes, they thought as you do, you work hard all of your life, and you pay into the system, and in turn the system will provide for you when you retire, and that is fair enough.
Why I believe we are at a crossroad, is because everyone now is providing for their own retirement, so the direction has changed, and now the question is.... why they should subsidise someone elses retirement ? ie: The aged population.
I believe that aged and disability pensions should continue to be paid as they always have. There should be no cuts, and the sum of money payable should be adjusted regularly to account for changes in the CPI and inflation etc, so that those people receiving such pensions, can live comfortably. (That happens here in Australia.) And that the govt. shouldn't even consider reducing the lifestyle of those folks.
I also believe that people who have superannuation be allowed a part pension to "make up" any shortfall, so that they would receive the sum equal to the aged pension. (That also happens here in Australia)
And I also believe that the people who disagree with this should take a real long look at themselves, and start to realise a few truths.
Well Said! Wombat

A lot of people in the U.S. live beyond their means & the rest of us end up paying for it. Not everyone is collecting S.S. & a lot of so called baby boomers are out their trying to help the so called X generation from going under. They put in a lot of hours volunteering in schools, rest homes, hospitals, etc., but I guess that doesn't count? We are just a bunch of leeches sucking THEIR got to have it now system dry.