Boomers (+ Millennial Traitor Brad Olsen) tell Gen Xers to get screwed on Super

ByMartyn Bradbury

Boomers (+ Millennial Traitor Brad Olsen) tell Gen Xers to get screwed on Super…

Prominent economists call for superannuation overhaul

  • Top economists have called for action on the pension age at a University of Waikato economics forum.

    ANZ chief economist Sharon Zollner, ASB chief economist Nick Tuffley and Infometrics principal economist Brad Olsen spoke as a panel on Thursday morning.

    Panel host Steven Joyce asked whether New Zealand’s current settings were right and whether the country was “in a box too much” with its thinking.

    Zollner said a place to start “unconstrained thinking” was the age at which people become eligible for the pension and capital gains tax.

    “If we are going to be different from almost the rest of the world, we should be able to have a mature conversation about what makes us different and why we think this is appropriate for us, when everyone else has chosen a different path, but we seem incapable of doing that,” she said.

    “Similarly, with the retirement age… we do seem to really struggle to have a conversation on that.”

    She said she was part of the age group affected by the previous National government’s plans to raise the pension age to 67.

…Brad, there’s a special place reserved in Economist Hell where you have to sit between Ayn Rand and Marx arguing forever for turning Traitor against Gen X for Boomers!

I love Boomers telling Gen Xers, the generation burnt by user pays, that they have to have Super later to ensure the Boomers are looked after.

So not only does Gen X get fucked over hy User Pays thanks to Boomers, we also have to have less and later Super to ensure the Boomers are ok?

Yay.

Neat.

Not allowed to make any mention of how fucked that is and another reminder of Generational dominance by the Boomers again.

Thanks to that cradle to the grave life subsidisation they got and ensured the rest of us didn’t.

Yay. Can’t ever mention that

Isn’t it time to talk about estate duties?

 

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2 Comments

  1. The last sentence says it all .I had a conversation not long ago with my stepson about his expectations when his mum and I pass .He assumes that because he is the eldest sibling he will get everything and the other two will have to come begging for some sort of pay out .When I pointed out that was not how it worked he was gutted to the point of being furious that they should even be entitled to a share .
    Further more he was even more angry when I informed him that his valuation of what would be the estate was over the top by about 300%.Further to that I pointed out that all may well have been spent by the time of our passing due to needing to go into full time care perhaps at a cost of 2k a week .Also he was more disapointed when I pointed out we may well live for another 20 years because our parents and grandparents lasted into the late 80s at least .That will make him 70 which I dont think he will make because of his shit life style he chooses to live .It seems that his generation have the the assumption they can live the high life and wait for mum and dad to pass even after they have drained that bank years before .

  2. The rough numbers I remember are in NZ, super costs around 5% of GDP. While in France it’s around 14%. Much of the OECD is in the double digits percentage for their retirement funds. So we have an actually very modest percentage to fund ours here in NZ – yet still the tears flow! It’s easy, means test super, that’ll cut the fund costs in half as boomers are the wealthiest generation ever and most have about 3 houses.

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