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Keep socialist blog En Passant going - donate now
If you want to keep a blog that makes the arguments every day against the ravages of capitalism going and keeps alive the flame of democracy and community, make a donation to help cover my costs. And of course keep reading the blog. To donate click here. Keep socialist blog En Passant going. More... (4)

Sprouting sh*t for almost nothing
You can prove my 2 ex-comrades wrong by donating to my blog En Passant at BSB: 062914 Account: 1067 5257, the Commonwealth Bank in Tuggeranong, ACT. More... (12)

My interview Razor Sharp 18 February
Me interviewed by Sharon Firebrace on Razor Sharp on Tuesday 18 February. http://sharonfirebrace.files.wordpress.com/2014/02/18-2-14-john-passant-aust-national-university-g20-meeting-age-of-enttilement-engineers-attack-of-austerity-hardship-on-civilians.mp3 (0)

My interview Razor Sharp 11 February 2014
Me interviewed by Sharon Firebrace on Razor Sharp this morning. The Royal Commission, car industry and age of entitlement get a lot of the coverage. http://sharonfirebrace.com/2014/02/11/john-passant-aust-national-university-canberra-2/ (0)

Razor Sharp 4 February 2014
Me on 4 February 2014 on Razor Sharp with Sharon Firebrace. http://sharonfirebrace.files.wordpress.com/2014/02/4-2-14-john-passant-aust-national-university-canberra-end-of-the-age-of-entitlement-for-the-needy-but-pandering-to-the-lusts-of-the-greedy.mp3 (0)

Time for a House Un-Australian Activities Committee?
Tony Abbott thinks the Australian Broadcasting Corporation is Un-Australian. I am looking forward to his government setting up the House Un-Australian Activities Committee. (1)

Make Gina Rinehart work for her dole
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Sick kids and paying upfront

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Save Medicare

Demonstrate in defence of Medicare at Sydney Town Hall 1 pm Saturday 4 January (0)

Me on Razor Sharp this morning
Me interviewed by Sharon Firebrace this morning for Razor Sharp. It happens every Tuesday. http://sharonfirebrace.com/2013/12/03/john-passant-australian-national-university-8/ (0)

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Lift the pension age or tax the rich?

Lift the retirement and pension age to 70? Raise taxes? [My guess would be they would want to put the GST on food, health and education and increasing the rate to 12.5%.] Pay governments half the growth in the value of your house (that is tax you on half the capital gain on your house after you retire)?

These are some of the ideas Australia’s Productivity Commission is putting forward because the cost of the pension will increase from 0.8% of GDP to 2.6% of GDP over the next 50 years.

I remember reading Marx saying something to the effect that as you lengthen the working day you are actually shortening the effective working life of people. So as the average working week increases (currently about on average 44 hours per week) we become buggered earlier and want to retire earlier, not later.

One trade union response could be to argue for a reduction in the current working week from 38 hours (nominally) to 30 hours a week and to police that. It was after all only in 1957 – 56 years ago – ┬áthat the Australian Council of Trade Unions adopted the 35 hour week as its goal.

The Productivity Commission suggests its proposed measures would reduce pension costs by $150 billion over 50 years.

Geez, if you abolished the tax subsidies going to the top 20% of superannuants and superannuation contributors you’d save $15 billion a year if you coupled it with other measures against tax rorts like negative gearing. $15 billion A YEAR.

You could impose a one percent annual wealth tax on the top 20%. There’s $40 billion a year. A YEAR.

You could impose an inheritance tax on estates greater than $5 million, that is about 0.1% of the population. (This used to be Greens’ policy but they capitulated to a rich supporters’ campaign against it.) You could even impose inheritance taxes on estates less than $2m (indexed) and still only catch the very rich.

Under capitalism growing old is a problem. Taxing the rich means the ageing population ‘problem’ is solved without increasing the pension age, raising taxes on workers or appropriating part of the increase in the value of our homes. But taxing the rich even a little bit isn’t on the bosses’ agenda or that of their 2 major parties, the Liberals and the Labor Party.

Instead the Abbott government is removing a slight increase in tax on the richest 128,000 superannuants and increasing it on the 3.6 million workers earning less than $37,000.

Class war anyone?

They are waging class war against us. The Productivity Commission pension recommendations are just one part of that war.

Isn’t it time we fought back instead of turning the other cheek and being smashed by the bosses and their politicians in both major parties every bloody day?

They are burning us out. The time to cut the pension age to 60 has come.

The time for a 30 hour week is now.  The time for taxing the rich is now.

The time for fighting back is now.

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Comments

Pingback from Lift the pension age or tax the rich? | OzHouse
Time November 22, 2013 at 8:11 am

[…] Nov 21 2013 by admin […]

Comment from Ross
Time November 22, 2013 at 4:40 pm

John increasing taxes will make us all poorer.Since the sale of 4 Govt State Banks and the Commonwealth, all our growth + inflation gets created as debt by the private banking system and most of that goes OS.

Under this system, the more growth we have, the more debt we incur.

How they increase taxes on us when more money leaves the country than comes in. Why did Hockey icrease our debt capacity by $ 200 billion?

We have to get back to Govt banks or we are stuffed.

Comment from Chris Warren
Time November 23, 2013 at 11:12 am

Ross

Increasing taxes on the right revenues will make us richer and increase equity in society.

Public owned banks are sufficient provided they are not-for-profit. Maybe these could be government owned in the short-term.

Comment from Kay
Time November 23, 2013 at 11:36 am

Reduce the pension age, reduce the working hours? Sounds like Greece – and we all know how well that worked out!

And you personally would be in that group of very well-off superannuants – so what is all this “we” business? I’m not sure what criteria you use to select “the richest 128,000 superannuants”, but you may even fit into that group – if not, you must have squandered your past employment opportunities.

But, seriously, some of your taxing ideas have merit – like inheritance tax on estates above $5M, additional wealth taxes that catch those obscenely remunerated company CEOs, CFOs, etc. and any other extremely wealthy people. i believe it is important to distinguish between the merely ‘well off’ and the obscenely rich.

Comment from Ross
Time November 23, 2013 at 4:58 pm

Chris Warren. Our Govt owned banks used to reduce our taxes because they used create from nothing some of the money to = growth + inflation. Our Govt banks still had to borrow from the Rothschild Central Banks but could create a bit for us.

Currently we have a $1.5 trillion economy. Inflation + growth = 6%. Our money supply grows by $90 billion pa as debt. Unless we sell off resources/ energy for a song, the debt can never be repaid.

Money is the medium of exchange which represents our toil.Money has no intrinsic worth.

Just on inflationary money we lose out 3 times. First by the depreciation of our currency, then having to repay the principal and lastly the interest. Under this system the harder we work ,the more debt we incur. Only money that already exists should have debt attached .

We are just debt slaves to banksters just like our Govts.