Australia vs. the United States: Two Charts that Tell You Everything You Need to Know - New England Patriots Forums

***patsfan13*** · 05-03-2012, 12:33 PM

About Socail Security Reform;

Australia vs. the United States: Two Charts that Tell You Everything You Need to Know about Social Security Reform - Daniel J. Mitchell - Townhall Finance Conservative Columnists and Financial Commentary - Page 1

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Let’s start by looking at some numbers from Australia, where workers set aside 9 percent of their income in personal retirement accounts.

This system, which was made universal by the Labor Party beginning in the 1980s, has turned every Australian worker into a capitalist and generated private wealth of nearly 100 percent of GDP. Here’s a chart, based on data from the Australian Prudential Regulation Authority.

PatriotsReign · 05-03-2012, 12:59 PM

I think the charts are unrelated PF13.

One shows the value of private retirement savings for individuals and the other shows debt created by a public retirement system. ONe is social welfare and the other is a forced retirement program that does not force individuals to pay into a "system" that provides for people who never contributed.

***patsfan13*** · 05-03-2012, 01:07 PM

Quote:

Originally Posted by PatriotsReign

I think the charts are unrelated PF13.

One shows the value of private retirement savings for individuals and the other shows debt created by a public retirement system. ONe is social welfare and the other is a forced retirement program that does not force individuals to pay into a "system" that provides for people who never contributed.

The point is the advantages of one system over the other. What we are doing now won't work and we need to change what we do currently, the reactonaries will oppose needed change.

PatriotsReign · 05-03-2012, 01:10 PM

Quote:

Originally Posted by patsfan13

The point is the advantages of one system over the other. What we are doing now won't work and we need to change what we do currently, the reactonaries will oppose needed change.

So where does Australia get the $$ to provide to citizens who have no retirement savings? Or does everyone in Australia have a job?

Think I read they have one of the lowest historical unemployment rates among advanced nations....

***patsfan13*** · 05-03-2012, 01:12 PM

Quote:

Originally Posted by PatriotsReign

So where does Australia get the $$ to provide to citizens who have no retirement savings? Or does everyone in Australia have a job?

Think I read they have one of the lowest historical unemployment rates among advanced nations....

More incentive to work more capital for the economy. As to the people with nothing? I honestly don't know. I do know that our system will destroy the economy for everyone.

PatriotsReign · 05-03-2012, 01:16 PM

Quote:

Originally Posted by patsfan13

More incentive to work more capital for the economy. As to the people with nothing? I honestly don't know. I do know that our system will destroy the economy for everyone.

I will agree there has to be a better, more sustainable way to do this.

***shmessy*** · 05-03-2012, 01:54 PM

Quote:

Originally Posted by patsfan13

About Socail Security Reform;

Australia vs. the United States: Two Charts that Tell You Everything You Need to Know about Social Security Reform - Daniel J. Mitchell - Townhall Finance Conservative Columnists and Financial Commentary - Page 1

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This is example #4,295 why people who have no background or understanding of a subject matter should not try this kind of thing at home and attempt to translate two charts as a comparison because a guy at the Cato Institute wants to fool the general public.

Just look at the two graphs.

Look at the YEARS on the X-axes of the two graphs and ask yourself, "What is PF13 comparing"?

Then look at the measures on the Y-axes of the two graphs and ask yourself - - exactly WHAT point is being attempted?

Some people merely see lines on graphs with no understanding whatsoever.

In your OWN words - - those two charts "tell you everything you need to know". Sad.

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Mrs.PatsFanInVa · 05-03-2012, 02:04 PM

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Originally Posted by PatriotsReign

So where does Australia get the $$ to provide to citizens who have no retirement savings? Or does everyone in Australia have a job?

Quote:

Social security (welfare) is the name given to state benefits paid to residents in Australia. Social security is non-contributory and is financed from general taxation (although there’s a specific levy for Medicare).

The main beneficiaries of social security are the aged and disabled, single parents, those who are unemployed, sick or in special need, and families with children.

Benefits include a bereavement allowance, carer pension, child disability allowance, disability support pension, double orphan pension, family tax payment, health care card, maternity allowance, mobility allowance, multiple birth payment (triplets or more), ‘jobsearch’ and ‘newstart’ allowance, parenting or guardian allowance (if a single parent), pharmaceutical allowance, rent assistance, sheltered employment and rehabilitation allowances, sickness allowance, widow’s allowance and youth training allowance. A discretionary payment (called special benefit) may be paid to those who aren’t eligible for other forms of assistance but are unable to support themselves.

Australia Guide: Social Security, The Australian social security system: Social security (welfare) is the

Crikey, I think 13's on to something here......in spite of the fact that his charts have nothing whatsoever to do with one another since one seems to be fact and one seems to be projected fantasy.

Oh....and they also have universal health care in Australia.

***patsfan13*** · 05-03-2012, 02:11 PM

Quote:

Originally Posted by shmessy

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This is example #4,295 why people who have no background or understanding of a subject matter should not try this kind of thing at home:

Just look at the two graphs.

Look at the YEARS on the two graphs and ask yourself, "What is PF13 comparing"?

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Apparently you didn't read the article and have no solutions other than the status quo to offer?

PatriotsReign · 05-03-2012, 02:17 PM

Quote:

Originally Posted by shmessy

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This is example #4,295 why people who have no background or understanding of a subject matter should not try this kind of thing at home and should not link to people who got jobs at the Cato Institute because they have an "in".

Just look at the two graphs.

Look at the YEARS on the X-axes of the two graphs and ask yourself, "What is PF13 comparing"?

Then look at the measures on the Y-axes of the two graphs and ask yourself - - exactly WHAT point is being attempted?

Some people merely see lines on graphs with no understanding whatsoever.
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More personal inuendo's....surprising!

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