is this adjusted for inflation?
(I'm sure I've already paid like 20x more then I will ever receive in our country. If anything at all. Yes sure, we have roads ans shit, lol)
Discussion
This is using raw historic data from the Australian Bureau of Statistics for median weekly wages * 52, and applying the tax brackets from each financial year and the Medicare levy without any subsidies (so that $33k paid in is an overestimate).
The pension figure is for this FY, it’s indexed and will go up next year and thereafter.
Don't want to argue with the point that this system must end (or at all). We have the same shit over here too. unsustainable, broken ponzi system.
I mean if they paid $100 income tax 30 years ago, it's now like what, 110% cumulative ... $214? So they might have been "right" too.
Taxes are ostensibly meant to fund the things your Gov was elected to do now - those things which need a budget, and people pay taxes which feeds that budget.
There’s no sense in inflation adjusting. The Gov needed to be funded in 1976 when these Boomers started working and they weren’t operating off 2025 figures then, they were operating off numbers at the time.
As are we now. We’re paying them more in pensions than they ever contributed to treasury, in large part because their generation blindly and mindlessly supported fiat Governments deficit spending and got us into today.
The point of the post was mostly to debunk their claim about paying in to the system - even if their taxes were only reserved for their pensions they don’t cover so even at a basic level, they are “wrong”.
I agree.
the problem was (and largely still is even with the current gen) that they think that pension are "savings".
not sure if they could understand what the central banks are doing (their information sources were quite limited and it required real hard effort to understand it; who am I kidding my coworkers still call me names, because I'm based in austrian theory).
they were scammed as well is what I try to say.
which of course doesn't entitle them to demand to be bought out.
>”the problem was (and largely still is even with the current gen) that they think that pension are "savings".”
Kind of. The problem is Western Boomers have a bastardised view of “””the social contract”””.
They believe, as there forebears did, that kids would look after their parents.
They believe this was systematised through the Boomer’s god - the State.
But that was never true, it’s not what happened, it is not reality.
The State setup a Ponzi scheme and the Boomers, in their arrested development, bought it hook, line, and sinker.
You’re right in that they see pensions as Savings. They think that they paid in and that money would be there for them in old age.
But where I disagree is that they weren’t scammed. They are adolescents in senior bodies. They were too brainwashed by the State (particularly via M5M), they believed too much, didn’t think to question anything, and now we have to deal with a massive generation of old people who live in an alternate reality as effectively children.
I’m not prescribing malice, rather naivety to a degree which we as humanity have no historic records of. It’s so bad I personally find it evil but I understand the pushback I get on going after Boomers too.
Again I agree.
They were naive and from my POV even retarded.
see I'm only like 20 years from them. but our situation is likely too different as a post soviet colony...
*30
Yeah I can’t talk to your context, when I say Boomers it should be constrained to Western anglosphere Boomers - that’s who I’m talking about as that’s what I understand. Soviet bloc Boomers had a different arc so I can’t say for them.
Western-Anglo Boomers weren’t just naive, they were massively programmed and ate it up. I agree that they are retarded in that they don’t have a clue how programmed they were.
And that’s why I posted this. They’re so naive they think they’re owed something but are literally going to take out more than they ever put in; which is absurd.
Fuller had a section talking about this programming as a positive in Critical Path: nostr:note1zx050vhq9cxxzz5a8583redeqhl42afkv666jwldnfe2gukf5skqcjrmdc
But even he would have been disturbed to see how they turned out.