bigfincat is offline bigfincat Post #1  August 30,2010, 9:58am
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I really don't blame anyone for our economic issues. I also don't expect anyone to fix them.

The only thing that will fix is time.

I have seen people that I would have never expected to ever have financial issues in situations in which they are now selling their homes. I don't know what that means exactly about their finances but I know that it is not good.

They were slugged in the gut really hard. They need time to recover mentally from that before they will spend money.

I don't see how any policy adjustment is going to change that any time soon.

Older people have been effected the most in that their retirement plan is more up in the air. Also affects them mentally.

If these individuals that I know were affected so much then noone was spared on this one. The effects are exponential.

I don't think that a lot of people realize just how bad it could have been.
 
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meri75 is offline meri75 Post #2  September 5,2010, 1:22am
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Interesting viewpoint.

Does your government determine all your tax rates? If so, and if your government increased any taxes which impact the daily cost of living, why would you not believe that your government must take some accountability in the impact to its people?

I do blame our government in part for our economic status. I think the government forking out up to $5K per birth (means and other allowance factors tested) as the Baby Bonus is a wasteful expense. In November 2009, we had 296600 births, 48% of the births were to first time Mums. What a waste of government funds! Everyone is whinging about the state of our main roads, public transport, public hospitals, medical services available in rural areas; but no, we keep ploughing money into schemes like the Baby Bonus.

If they scrapped that and a few other stupid forkouts we've got on the go, maybe all Aussies would get to benefit with the re-assignment of those funds.

I realise there are some benefits which have to be in place, such as pensions and disability allowances/pensions etc ... but otherwise, I believe that the taxes we pay should be used for the benefit of all people.
 
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bigfincat is offline bigfincat Post #3  September 5,2010, 8:03am
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It is very difficult for me to speak on any issue going on in Australia. I really don't know much about the political landscape and history.

The type of program that you describe would have such a minimal effect in the States that it doesn't compute in the big picture.

There is no logic behind calling my earning in economic markets my own achievement & then calling my loss in economic markets someone else's wrongdoing.

I own both of those things. It is 100 % securely on me.
 
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meri75 is offline meri75 Post #4  September 10,2010, 10:30pm
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I see the point you are making and somewhat agree. I mean, that I agree that the effort I put in directly relates to my gain/loss in the economic climate.

But where I probably differ from you, is that many things in the economic climate - regardless of country - are outside of our control. When/if our governments do make mistakes with our taxes, well that can have a direct impact to us and that's where I believe the governments can be accountable for financial gains and losses people experience.
 
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D_Lion is offline D_Lion Post #5  September 24,2010, 2:54pm
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I don't agree with some points in the OP:

The government "could" do quite a lot which would have been of immense "help."

"Help," meaning of benefit and value to specific individuals, as distinct from actions which are broadly beneficial to economic growth.

Old people, by and large, are better off than young people (this is because politicians know that old people usually vote, whereas young people usually do not.)

The persons hurt the worst were young persons who had recently purchased houses.

Retired persons on government and most private pensions saw nothing except paper loss, if that.
 
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annother is offline annother Post #6  September 24,2010, 3:36pm
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I'm one of those "old" people. I had hoped to sell my house this year and retire, but I am going to delay that a few years in the hope that it will get closer to what I paid for it in 2006.

My financial advisor tells me I could retire now, but I would be a LOT more comfortable if I wait four years. That is partly to do with the value of the house, and partly to do with the value of my pension plan.

So, I'm still at work. It's not awful. It's just not what I wanted.
 
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