ANOTHER VIEW

Economist Brent Wheeler isn't so kind when it comes to oldies keeping their gold card benefits.

We reckon that upping the age is the fairest way to go. Up to 70 seems sensible. However Brent, as economists do, says that the oldies forget that they have been looked after by the state in past decades.

He has no problem with giving them a subsidy- just questions the reasoning.

Not just the gold card either…. the argument is in common use in respect of numerous other things old people consider “I’ve always paid my taxes” gives them some right to.

The logic of this is faulty. At the time these people paid their taxes they consumed government services – education for their children, health care for themselves, a Police Force…. and myriad other things.

They consumed their “taxes worth” back then – more in fact – which is why we have run up various deficits at various times.

If we want to give old people money for being old – fine. But let’s not pretend that its because tax is some kind of saving scheme to be cashed in when you are over 65. If we stopped thinking like this we might see bribes like the gold card for what they are. Cheap vote grabbing schemes which penalise people who are still working and still paying tax.

His whole blog is here

OLD AND WORTH THEIR WEIGHT IN GOLD

We were not surprised to see that Steven Joyce is looking to review the free travel for pensioners that was championed by Winston Peters.

Now we are all for making the lot of oldies as comfy as possible. But its about time we redefined old.

Now we went to lunch with a bunch of 60 - 65 year olds earlier this week. They aren't old. Definitely showing signs of excessive wear and tear but not old. One was some computer guru and was flat out on his iphone. The other was an ex merchant navy captain. One was ex PR and the birthday boy was a landlord and book keeper. They all have lived a bit and by hell they still are.

Now BB's ma and pa are closing in on 70 and 70 plus. Are they old? hmm probably best described as oldish. Rickety Hoons who sleep a bit more than they used to.

Now Joyces dilemma is that due to the popularity of the travel subsidy of $18 million and the growing numbers of those eligible, the budget is about to blow out like a fat girl after a feed of cabbage.

We reckon its about time to up the ante on the eligibility.

To 70.

Nice round figure and for some reason the age where people get oldish.

Now according to statistics there are abut 384 thousand people older than 70.

And there are 173 thousand between 65- 69.

But the really scary thing is there are 226 thousand between 60 and 64. And other big dollup between 50 and 60.

So its pretty obvious the budget will be blown to smithereens if the criteria stays the same.

But there would be big savings if they shift the criteria out to 70. Its time we, as a nation, recognised that old isn't old anymore - 65 is still pretty young and 70 is just getting oldish.

We are currently riding the Wairarapa train and as its an off peak its full of cottontops and we overheard a few talking about the possible changes. Those who are eligible dont want it to go but those who havent got it yet can see the sense in it being raised. Its easier not to give than take away.

So those who are already eligible should retain that eligibility but those who are not yet 65 should now have to wait till they are 70.

Its a big change but one we have to make in light of the big bubble of an aging population that will impact on the countries economy soon.

However, we think that the subsidy is a great thing. We have seen people widen their horizons with a bit of free travel. The 65 plus demographic have seen out wars and paid their taxes with the full expectation that those taxes would provide a goodly sum to live on in their dotage.

And we owe it to them to ensure that they can.

WHALE DOESNT KNOW EVERYTHING

Whale oil thinks he has the goss on Winston Peters and the fact that he doesn't seem to be keen to return his Ford Territory govt supplied vehicle.

We have it on good authority that he is going to employ it to do some charity work. He is going to use it to deliver meals on wheels to all the senior citizens who voted for him. Isn't that lovely! It is so nice to know that he is finally going to give something back to all those old people who voted for him.

Please pass this message on to all the old folks you know who voted for him.

MA AND PA NEED ROOLS

Cactus kate and I are of the same mind. She reckons that the oldies need supervision when it comes to investments - I reckoned a while back that they also require supervison when it came to voting. So I agree with Cactus - come 65 and the aged P should be required to get permission before making any big decisions - voting and money at the top of the list.
We love our parents but a bit like women facing menopause, they make some dumb decisions so they need assistance. Its not like Cactus and me need their money - we have made our own - we just don't want to see our parent's hard earned dolleros swallowed by sharks.
My Ma and Pa played it safe and poked all their spare spondies in bloody bonus bonds and have been rewarded, they still have their money, and a bit , and have the thrill of going to the letter box and to check if they have a plain envelope that says they got a bit more . So that takes care of the lotto fixation. And at anytime they know their original investment is safe. I wont even try to talk about rates of return, NPV etc. Sadly I'm still working through the fact that my old man reckons that deep down Winston is still a good bastard.

NEW RULE TO ENSURE WE NEVER GET ANOTHER WINSTON PETERS IN PARLIAMENT

We became very alarmed when the early results came in on election night and NZ First was hovering around the 5%. Then some knowledgeable person suggested it was because of the special votes cast in rest homes.

So we would like a new rule. After you turn 75 you can't vote without written permission from your children. And we expect all children of parents over 75 to exercise some guidance over voting.

THE SCANDALS KEEP COMING TONIGHT

The prawns are onto $8 million light bulb scandals and Hooton has Pledgegate and if I was Darren Hughes I would be very bloody worried = shame really he is supposed to be a good bugger - but he has dropped his leader in shit.