Elderly pensioners are crooks?

Pensioners around Australia will be rushing to their mattresses and cookie jars as the Herald reveals the true reason for a dwindling economy. “Elderly Australians committing welfare fraud on a massive scale are behind the extraordinarily high number of $100 notes in circulation, a former senior Reserve Bank official says.”
 “One popular explanation is that they are used for illegal transactions as part of the cash economy.” Former Reserve official, Peter Mair, rejects that notion as a “furphy”.
Now that we know exactly who is buggering the economy, “elderly Australians” will be flocking to clubs and large businesses to break their stash of $100 bills into 50’s to avoid the tentacles of The Australian Taxation Office. Not to mention the evil looks and snide remarks like “tax cheat” from cash register personnel against those who prefer larger notes. Money that wicked “elderly” earned, paid tax on, and saved.

However, Mair blamed “elderly people” for hiding cash income to increase pension benefits. “The bank is basically facilitating a tax avoidance scheme by issuing high denomination notes,” he told the Herald. “They are not needed for day-to-day transaction purposes, or even as reasonable stores of value.” What poppycock Mr. Mair!

Mair’s best guess estimates the average pensioner couple could hold up to $50,000 in undeclared $50 and $100 notes to get access to the pension. This genius should go home and water his tulips—if he’s able.  The average Aussie battler slogs his guts out raising his family, keeping a roof over his head, putting the kids through school, all the while being taxed through the nose for 50 years.  If he could stuff $19 per week under the pillow he might have that 50 grand Mair speaks of.
This out of touch person then asserts, “… the return for an Australian close to getting the pension who held $10,000 in cash, rather than declaring it, was "enormous". At last look, that amount would reduce a single pension by about $7.50 per week—now that’s ENORMOUS!

Meanwhile those with nothing, zip, narda, get full pension, rent assistance, full medical and I don’t know what other perks are available. Those “elderly” crooks with bags of loot under the bed get no rent assistance, maybe some medical, and slugged again by taxes already paid on any savings earned from 50 years of toil.

Mair goes further to stop this “perceived”, completely hypothetical grand theft. He proposes the elimination of 100 and 50 dollar notes: “…After June 2017 every note could only be redeemed at an annual discount of 10 per cent. It would mean that after two years, each $100 note could only be redeemed for $80, and so on.” He wants $20, and $10 notes, and lots of coins.
That this person is interviewed and his ideas reported as being credible beggars belief. Thank God he is a former Reserve Bank Official.

GC.Ed.

 

Comments

[no hundreds under my bed]

1.

The huge business across the road from me is cash only and all the rented stores in it pay their rent by cash. They don't even have a DA from the council but the residents protests go nowhere with the City of Sydney Council. I reckon they have more $100 notes than the pensioners in my street.

[Bushwanker]

2.

Just shows how out of touch the overpaid fat-cat bloated public service is in this country.

Statistically there might be a lot of $100's and $50's out there but the reasons for it would escape the tunnel vision of a has-been public servant bean counter. Other than the intent to defraud the Commonwealth as I think Blair suggests I think one of the reasons is that retiree's and those approaching retirement see the nanny government WASTING taxpayers money on socialist bludgers like those in the public service and additionally a lot of superannuants would have been burnt by the GFC, ith their super savings trashed by the policies and actions of lefty governments and government departments like the allegedly corrupt Reserve Bank of Australia.

Australian pensioners get paid a lot less than the illegal gatecrashers that come here on boats from the north so who can blame them for having some cash insurance just in case.
Mr Blair and his ilk are the problem not the solution.

[Abraham]

3.

Shout this man a beer ...

[Michelle]

4.

Last I looked having and using cash to pay for your purchases isn't illegal in Australia. Even having a $100 note instead of a fist full of fives isn't illegal. Not everyone scabs under the lounge for change, or uses the card for every loaf of bread and liter of milk they buy. Devaluing the currency isn't such a great idea either. Investment in currency is widespread and the trade in banknotes and coins is a taxable investment income.

Instead of pensioner bashing howz about an investigation into union bribes to carry out business and cash payments to overlook theft from unions?

[Vivienne]

5.

Well said Michelle!

[Married paid single income taxes too]

6.

There is a definite campaign to denigrate all over 65's age pensioners and SFR going on started with a reserve bank governor who blamed them for holding high price houses usually bought 50 year before for pounds now pushing up the prices for first home buyers as well as stealing their kid's inheritance by using the equity to travel around Australia or the world. This was when Bob Carr was Premier in the nineties and he said no way it was the fact they had 1000 a week immigrants coming into Sydney and the demand was what was pushing up house prices. Still is today. Worse now because we have thousands of boat people having private houses and rooms too now rented for them by our Labor Government when they ran out of motels and vacant Army housing all because they softened the TPV's meaning it was on again for single men to arrive get settled and then family re-union from those still back home a couple of years or so later not persecuted either like the first arrival taking advantage of out of date UN Refugee Treaty meant for WW2.

These fat cats are overpaid and should try living as I do on the married rate of $282 a week and paying my share of the rates, power, food, medicines and all those necessities last had a holiday away in 1979. And paid single income taxes until retirement. Now paid less because married? Discrimination and Blatant.

What happened to the 7.1/2% levy on Income Tax towards my age pension then? Didn't get repealed when Menzies closed the Pension Fund in 1950 just moved it along with the 2 billion+ in today's money to General Revenue.

It never stops does it - want to stop us driving too and now opened a new market for home invasion to knock off a few more "bludging" pensioners for those under the mattress hordes of $100 notes. As if. We use debit cards never carry cash except small change for parking.

Bah......mad world dominated by lefties who seem to hate most of any age but elderly more than most maybe because many do not believe their lies and myths like AGW aka climate change aka Climate Disruption

[Geoff Crocker]

7.

A wonderful comment, and spot on!

[Carol]

8.

Good grief. The abandonment of common sense by this foolish man is mind boggling.
A week or so ago it was Ross Gittins, of Fairfax who was portraying self-funded retirees as free-loaders who were bludging on the taxpayers. Now pensioners have reams of $100 bills stashed away that they covertly earn from knitting and selling pot holders and bed socks.
Do these loonies have nothing better to do that dream up such illogical and unsubstantiated drivel.

[Georgina]

9.

Thank you for raising this disgraceful sleight on the elderly pensioners written by an ex officer of the Reserve Bank. It brings out the total lack of consideration for those who have worked hard for 50 years or more, paid their taxes throughout, volunteered to work with the sick, blind and those who need help and are now finding it hard to live on the pension, let alone be able to put 100s of $100 dollar notes under the bed. The Herald should be ashamed to publish such an article. The writer of the article if as is said is a former officer of the Reserve Bank should be ashamed to report such low down hypocricy when he retired with probably millions, had marvellous holidays and had a decent roof over his head. Disgusting

[bluebell]

10.

Yeah - my 81 year old mother is a real criminal. She has wads of $100 notes stuffed in her mattress, hidden in biscuit tins, stashed under the floor boards and concealed in her freezer with the frozen peas. It never ceases to amaze me how these cushy bean counting bureaucrats go for the jugular on vulnerable groups within our communities to justify their own miserable existence. For the record my mother (dad is now gone) gets by on the single pension rate and receives interest on money that dad had invested with his developer brother. It's wasn't a lot, but enough to generate money to cover her rates, PHI premiums and house insurance. So in essence my mother is a lot better off than many other pensioners. She owns her own home outright and has 2 daughters keeping an eye on her welfare. For her single pension my mother has to declare every single cent she owns, her assets and any changes in her circumstances. My mother would make up the overwhelming majority of pensioners and retirees who are honest with their dealings with Centrelink and government agencies...you see they are the generation that saved this countries arse so that pipsweak retards like Peter Mair can besmirch and generalize an entire generational group as thieving lying crims that are draining the countries coffers dry...well, Mr Mair, try looking closer to home, start knocking on the door of Labor Inc and their loony treasurer Mr Wayne Swan!!!

[ibbit]

11.

Are we to take this bod seriously? Does he really think elderly Australians are crooks with crocks of money?

As an elderly Australian I reckon this bloke is really an escapee from the funny farm. Someone better catch and return him quick smart before he does himself a serious mischief - or some crooked elderly Australian with $100 bills sprouting from their ears - does.

Truly Australia is beset with loonies, creeps, lunatics and such like presently.

Could this be something to do with our truthfull, principled, honest, competent government?

It would be funny if honest Australians didn't have to cop insults and put up with insane drivel from overfatted cats - or ex-cats.

[Abraham]

12.

Please forgive me for saying the following. For sometime now I have been pondering and reflecting on how the progressive Left has embraced and almost glorified the demise of human life.

Having read this post and subsequent comments I have asked myself this question "When will it be legal to rid society of unwanted old people the same way we rid society of unwanted babies?"

Once 'old people' become a financial burden on society - which they will as a result of decreasing population growth and the campaign against SFR - how much effort would it take to convince those who are required to sustain these older Australians to streamline the process of euthanasia or as they will sell it to us - The Right to Die with Dignity?

I wonder if they will rationalise killing unwanted old people the same way they justify the killing of unwanted babies? Perhaps they will say it is the 'productives' right to not bear the cost for the 'unproductives'

The progressive Left has championed the 'right' to kill for decades now. Why stop at babies?

Like I said, I was just wondering.

[Geoff Crocker]

13.

you maybe not so far off, according to the Charlton Heston movie, Soylent Green. Read the plot for yourself. If you dare!
http://en.wikipedia.org/wiki/Soylent_Green

[Abraham]

14.

Disturbing to say the least. How many 'it will never happen' moments can you recall in human history?

[Oldman]

15.

So Geoff, you may not agree with what Peter Mair has to say but you have to defend his right to say it, right?

So what is your explanation of the disappearance of $20B in Oz $100 and $50 notes? I have no explanations; perhaps those "muslims" that have been disparaged and insulted in other threads are responsible, illegally sending 100's and 50's to Lebanon and Afghanistan huh? There are a lot more "poppycocks than Peter Mair's pronouncements on the pages of Menzies House, especially the bile and hatred in the comments sections largely encouraged through silence from those in charge.

PETER MAIR: Looking at the New Zealand currency issue, about 50 per cent of their bank notes are issued in the form of 50s and 100s. In Australia, 50s and 100s comprise 90 per cent of the value of notes on issue.

The explanation for that lies largely in the fact that in New Zealand there is no means test to qualify for the aged pension, whereas in Australia there is. I don't mean ordinary pensioners that are really dependent on the pension but for those people looking to qualify to get the pensioner concession card and to draw a part pension, it makes a lot of sense to manage your assets in a way that converts some into anonymous cash.

[Abraham]

16.

Fortunately you never contribute to the bile and insults and hatred and disparaging on these pages. Oh how lucky we are to have such a virtuous and noble contributor such as you to guide us blind fools.

Was there a point to your rambling on about $50 and $100 notes and Muslims and ... and ... what was it about again? Couldn't quite follow the incoherence of thought displayed.

Please help?

[Anton]

17.

largely encouraged through silence from those in charge

freedom of speech is such a bitch, aint it

[Grantley]

18.

Could it be that this is just part of federal alp's softening up process to make big changes to the pension and in particular self funded retirees. The govt knows its budget is in trouble and the self funded retiree group control a significant amount of money (because they were encouraged by previous govts to do so) and this "pot of gold" is just too tempting for the alp to keep its sticky , grubby fingers off of.

Adopt the brace position folks, abacus duck is coming for you.
I wonder how the senior public service & politicians will word it to make themselves exempt.

[ibbit]

19.

Grantley at 18 is probably near the mark. It could very well be a softening up process; the MO certainly has labor fingers all over it. First, disparage and condemn thereby whipping up resentment against, then hit over the head with a cosh, always, as Grantley points out, exempting themselves.

Perhaps all oldies - fully, partly self-funded or full pensioners should get ready to be turned upside down and shaken.

[Oldman]

20.

Seeing you have a problem with your eyesight, I repeat:

So what is your explanation of the disappearance of $20B in Oz $100 and $50 notes?

[Anton]

21.

Human nature:

ATMs do not provide $10 any more, and already sometimes do not provide $20 notes either.

Many people believe that "breaking a note" causes them to spend it all (might be true actually). The result is that people spend the smaller notes first and keep the larger denominations as long as they can.

The growth in electronic payments also causes people to use less cash, and retailers will always swap their large notes for your change - they need it.

Otherwise old people are just crooks. Gillard even said it - "they don't vote labor anyway" (in relation to cancelling an increase in the old age pension)

[Abraham]

22.

Being able to see is quite different from being able to argue logically. No I might not be able to see but I sure can employ logic.

You were ranting on about high denomination banknotes and Muslims and exporting currency and ... and ... oops there its happenning again.

What is the point you are attempting to make and what the hell do Muslims have to do with it? Or Afghanistan?

[Grantley]

23.

....and what do we see on our 6pm TV News reporting on the most recent drug bust (which is a nightly event).....usually images of police displaying plastic bags filled with $100 & $50 notes.

Rather than blame those who have worked their butts off to make a legal retirement for themselves maybe our useless bloody govts could look to their own failings. Jeez how I would like to bang some heads together.,
Pissed off.

[Georgina]

24.

And how many $100 notes do the illegal immigrants hold? They are ripping off the country without doing a damn thing towards the economy. Really David Mair should look at the money saved by pensoners getting out and helping on things such as Meals on Wheels and other charitable work. What has he done with the millions he would have earned? Like to see his abode compared to some pensioners. It's a disgrace. Grantley you are quite right. Get rid of members of this government earning thousands and living like lords.

[Oldman]

25.

If your argument re: ATM and human nature were true, then then the arguments would be true in NZ as well. Peter's argument stands until it can be shown to be false:

PETER MAIR: Looking at the New Zealand currency issue, about 50 per cent of their bank notes are issued in the form of 50s and 100s. In Australia, 50s and 100s comprise 90 per cent of the value of notes on issue.

The explanation for that lies largely in the fact that in New Zealand there is no means test to qualify for the aged pension, whereas in Australia there is. I don't mean ordinary pensioners that are really dependent on the pension but for those people looking to qualify to get the pensioner concession card and to draw a part pension, it makes a lot of sense to manage your assets in a way that converts some into anonymous cash.

[Oldman]

26.

Perhaps the Jews are hoarding them huh?

[Abraham]

27.

I mostly refrain from insulting contributors but I'll make an exception for you ...

You're a *&%#

Now if you can't logically and constructively argue your position, %$#*&. How's that?

[Oldman]

28.

You fell right into the hole, didn't you! It's ok to say anything you want to about, muslims, blacks, etc. but as soon as jews are mentioned, it becomes an anti-Semetic slur. You are not worth your weight in salt, go and play in the traffic.

[ThePhilosopher]

29.

Anti semitic Stalinist filth you are OLDTOOL.

You are a shrivelled excuse for a human being who only posts to cause offence.

[ThePhilosopher]

30.

Ibbit you have a valid point. Self funded retirees have been in the ALP sights for a while now beginning under Rudd and increasing under Gillard.

This softening up process makes further victimisation possible without the need worry about people worrying about poor old people taxed out of the last of their savings. Being self funded is not wanted and you are penalised into penury for your earlier thrift and financial skills.

[ThePhilosopher]

31.

Tell me OldTool is someone a Jew because they have the name say " Abraham ". Unlike you you racists hypocritical anti semite that thought never crossed my mind for a variety of reasons.

1. A name has no religion and can be as equaly atheist, Christian or Jewish,

2. The Authors religion is only relevant so far as religion might be entered into a discussion and the authors experience is relevant

3. I would never resort to crude anti semitic stereotyping by linking Jews with stealing money.

You are the lowest of the low and a true piece of loathsome trash.

[Abraham]

32.

What hole moron? You are incapable of set any intellectual trap. Tell me something, what is the point you are trying to make? Are you capable of making a coherent and logical argument? Because it is abundantly clear to not only me, but every other contributor to this blog that you are either intellectually deficient or intentionally provocative. Either way my assessment of you stands.

My opinion of you is based on the drivel you contribute to this blog. Sadly for you I'm not alone.

[Abraham]

33.

Ibbit,

I believe this government is absolutely commmitted to create as many State-funded welfare recipients as humanly possible. By establishing a massive block of citizens totally dependent on State-funded benevolence, they in essence create a voter base untouchable by any government whom wish to reduce entitlements.

[Anton]

34.

Why? are ATMs, the retail environment and social norms the same in New zealand as in Australia?

(as you struggle to comprehend logic, the answer is no)

So you support the victimisation and subsequent exploitation of smokers. And alcohol consumers. Now old people (incidently, through no fault of their own).

What happens when the moraly, socialy and financialy bankrupt government turns to your demographic? Would you like us to defend you? What support have you ever shown for any other government bullied section of our society? Do you think you will never fall into the crosshairs of the socialist Labor mafia government?

What is it like to exist without any functioning moral concience at all?

[Anton]

35.

How can it be that people who have worked, saved and sacrificed their whole adult lives are penalised by the government? Is this now considered criminal activity?

Is there any higher form of vandalism than voting Labor?

[Oldman]

36.

Of course your bigoted mind is not able to follow my posts; you are happy to vilify and disparage Muslims, Islam and refugees in any number of threads, hiding your hate speech behind a thin veil of "free speech" but as soon as the word "jew" is mentions you fly into an uncivilized rage. That's the hole you failed to see and that's the hole the rage of all bigots prevents them from seeing.

[Oldman]

37.

Rubbish, human nature, if that's what you are arguing, is the same for both countries.

Unless you can prove that peter's argument is false, it stands:

...in New Zealand there is no means test to qualify for the aged pension, whereas in Australia there is.

As for your other bit of crud, I don't support the victimization of smokers or drinkers, I support any service or help in getting them off the habit by making it as difficult as possible for big tobacco and big alcohol to to lure kids onto the habit.

[Oldman]

38.

How can it be that people who have worked, saved and sacrificed their whole adult lives are penalised by the government? Is this now considered criminal activity?

How are they being penalised? Nobody is taking away anything the old is entitled to unless you are talking about people claiming entitlement through false declarations?

[Oldman]

39.

getting rid of italics

[Abraham]

40.

What makes us uniquely human is emotion. Raw, unmitigated emotion. It comes to us as natural as does breathing. Any attempt at sanctioning human emotion not only is foolish but inhuman.

Hate speech is such a foolish, inhuman fabrication. The abrogation of human emotion by legislation is a Leftwing concoction contrived within their ideological void. Hate-speech legislation's core purpose is extinguishing dissent and eschewing scrutiny. By successfully condemning those with opposing views as 'haters' through accusations of hate-speech, the Left effectively terminate debate. Without debate, the Left can advance their political agenda unopposed.

The Left hates 'haters'. A self-refuting position at best; hypocritical without doubt. Recently I've been accused of being a hater. A bigot. Maybe even a racist. What perplexed me by this accusation is the hate exhibited by the accuser towards the alleged hater. For my accuser to successfully prosecute any claim of bigotry against me, he must prove himself a lover, not so? Should my accuser exhibit even the slightest measure of hate for me, would he not condemns himself by displaying the same bigotry he claims to despise?

Being accused of hate-speech is as preposterous as being accused of love-speech. Hate - or love for that matter - is a normal, instinctive and ultimately subjective human emotion. What one individual loves, another hates. Vegemite comes to mind. Hate can neither be regulated nor legislated out of existence. Hate cannot be extirpated from the human mind. Hate has been and will be with humanity until humanity's ultimate extinction

Hatred only becomes problematic when the State sanctions the eradication of six million people based on their heritage; or approximately one million people are slaughtered in a mere one hundred days because of inter-tribal loathing; or when the State legislate the removal from 'white areas' all non-white people exclusively due to their non-whiteness.

During the course of human existence, human beings will without fail encounter individuals whom they will either love or loath. To hate - and to love - not only is completely human, it is utterly unavoidable. For this reason, hate-speech is merely free speech we hate.

[ThePhilosopher]

41.

What a pathetic Oldtool rant...up their with the worst of your usual dribble . lets read it again ...You fell right into the hole, didn't you! It's ok to say anything you want to about, muslims, blacks, etc. but as soon as jews are mentioned, it becomes an anti-Semetic slur. You are not worth your weight in salt, go and play in the traffic.

Its Ok to say anything you want about etc AS long as you dont fall into the slimy hole that you live in and resort to crude racial stereotypes like you did equating jewishness with theft and avarice ".

You are the most stupid and foulminded little person I have ever seen on this site.

Why do you come here OldIdiot ? You know well its not meant for the likes of you. You just come to lay your filth to reduce thuis site to your own pitiful level.

Go play in the traffic in Red Square Comrade

[ibbit]

42.

Very correct, Abraham. They also obtain almost total control over our lives - and God forbid, our property, too.

[ThePhilosopher]

43.

What happens when the moraly, socialy and financialy bankrupt government turns to your demographic?

Oldtools demographic is not very bright, anti semitic stalinists who hates everyone.

Sounds like the ALP will support him OK to me

[ThePhilosopher]

44.

the rage of all bigots prevents them from seeing.

One doesn't have tolook far for your anti semitic bigotry does one...Would you like some Max Brenner Choclates Jew Hater ?

[ThePhilosopher]

45.

Courtesy of Old Tool this thread has been hijacked via his anti semitic rants.

The pont is that the Self Funded retiree or the retiree with anything above minimal savings is seen as a class enemy of the left and must be subdues and robbed.

[ThePhilosopher]

46.

To continue my point the fat cats of the ALP in the name of Equity and giving everyone a " Fair Shot " have named SFR and pensioners as Kulaks and are readying the country for the purge.

[ibbit]

47.

Oldman, I usually don't read much of your verbiage as it is mostly leftie drivel. However, I did glance at your response to Anton at 37, more's the pity. What a pious, holier than thou bit of arrogant blather that is.

Jeez, Oldman - weren't you a kid once? And didn't you sneak behind the shed to experiment with ciggies, booze and other things?

Clearly not, as someone so clearly rigid and sanctimonius is happy to deny young people youthful experimentation.

In reality your blather is really a swipe at legal products - drink and cigarettes, but you hide behind kids - hero that you are.

You don't much like freedom of conscience, self-responsibility or other people's opinions to differ to yours, do you?

In fact little lefties loathe these things - partciularly self-responsibility, because it denies their craving to control and run other people's lives; a craving they hide behind a veil of sanctimony.