In this first episode, Cameron talks about a stoush he's having with right-wingers who think regulation is behind high property prices. Then he explains why superannuation is a scam and why the left's support of it is so dumb. fresheconomicthinking.substack.com
I typed this before I finished listening... clearly Malcolm understands:
By taxing current workers and paying retirement benefits today, effectively transfers 'purchasing power' from 'current workers' to 'retired people'. It allows resources to be devoted to meeting non-worker needs without creating inflation.
If super funds were (forced) to use their funds first to devote resources to building good quality housing and medical facilities for TODAY'S (and upcoming) retirees to ensure everyone has adequate facilities... ongoing into the future. It would be like using taxes to build 'social' housing, without having to increase tax rates?
I typed this before I finished listening... clearly Malcolm understands:
By taxing current workers and paying retirement benefits today, effectively transfers 'purchasing power' from 'current workers' to 'retired people'. It allows resources to be devoted to meeting non-worker needs without creating inflation.
If super funds were (forced) to use their funds first to devote resources to building good quality housing and medical facilities for TODAY'S (and upcoming) retirees to ensure everyone has adequate facilities... ongoing into the future. It would be like using taxes to build 'social' housing, without having to increase tax rates?