Tuesday, 19 May 2015

The Entitlement of Age

Don't pension the war.
Australia's unemployed (will) receive proportionally less welfare than the aged.
The Aged:
  • Australians over 65 years of age: 14% of the population.
  • 65-74 mean household net worth: $1,007,645 (Source: ABS (2013))
  • 75+ mean household net worth: $786,879
  • A vulnerable demographic? Given that Australian mean household net worth: $728,139
  • Assistance to aged (2015/16 Budget): $60.7b
The Unemployed:
  • April 2015: 3.2% of the population. (Note: this excludes aged pensioners.)
  • Assistance to unemployed and sick: $11.5b
Ratio of Aged to Unemployed:  4.4 to 1.
Ratio of Aged welfare to Unemployed welfare: $5.3 to $1.

Curtailing benefits to the elderly would be political suicide, and my point is not to advocate or warn of inter-generational war. But in light of the above and the relative silence of the government on the aged pension, haranguing the unemployed to 'have a go' smacks of bullying.

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