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Mr Costello and budget surpluses

This Government may boast about huge budget surpluses, but at whose expense are they achieved. The highest taxed section of the community are definitely the part-pensioners, who pay often 30% tax on top of 40% loss of pension above an income of $15241.00 single or $25771.00 for a couple, added up equals a tax equivalent to 70%, and no matter how one looks at it, it is still a tax.

The Government pays some $18 billion to some 1.85million pensioners and 78% of people over 65 are paid some pension. Now if the full pension would be paid to every person over 65, the cost of the pension would go up to $ 26 billion, and some of that would be paid back in taxes and the Government would also save on administration cost.

The cost of concessions on super contribution will cost the Government $15.6 billion for 2006/07 (Fin.Review 15-16.Oct.2005 Perspective), now would it not be more sensible and cheaper to pay everybody the full age-pension and abolish any tax-concessions, as they only favour the very rich.
 
Some $900 million comes into Australia each year from overseas countries in the form of pensions for immigrants who worked for a certain time prior to migrating to Australia and the Australian Government takes $0.70 from every dollar so that other countries subsidize the Australian Government to the tune of some $600 million.

I’am waiting for a response from Mr.Costello.

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