17 Feb 2015

Can we still afford MULTI-millionaire retirees receiving federal government welfare handouts

Image result for no double dipping
Based on an article by Adam Creighton
MULTI-millionaire retirees are receiving federal government handouts worth about $500 million a year, sparking calls for an overhaul of Australia’s publicly funded retirement system.
About 260,000 Australian households have a net worth of more than $3m yet are ­enjoying welfare payments of about $800m a year, despite years of attempts to slow the growth of social security spending.
The study, undertaken by the National Centre of Social and Economic Modelling, also shows these wealthy families receive more than $6 billion a year of benefits in kind, such as taxpayer-funded healthcare and education services.
The analysis, which questions the fairness of Australia’s welfare and retirement programs, comes as debate continues over how unfair the Abbott government’s first budget was.
The other area of contention is people living in houses valued in the millions receiving aged pensions and other benefits.
The handouts some of these people have had through tax concessions and negative gearing over the years brings into question weather the family home should be exempt from  means testing. Some would say that many of these people are double dipping.
Should these people be blamed for using the system, no, its the system it's self that is the problem and successive governments have not had the bottle to fix it.

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