The fact is, that anything governments do eventually turns to excrement; and it doesn't matter which ideology the government adheres to. It's the nature of the beast.

Most of our problems are caused by politicians, so it is unrealistic to expect the source of the problem to fix the problem.

A very wise republican Senator, when a guest some years ago on the ABC's Q+A, made this observation. "At some point, complexity always becomes fraud." Quote, unquote.

And whenever price gouged private profit/commision etc., I believe, even more so? We allegedly have somewhere north of 2.5 trillion in OUR super funds. And controlled by fund managers, some of who earn commisions and others who apply just a minimal management fee,i.e., industry funds.

Moreover, the overwhelming bulk of this money is invested offshore to minimise the tax burden on it, if only to pad up their commission "earned?" And we are therefore denied OUR money as investment capital in all manner of income earning infrastructure.

Even as we hold out the begging bowl to foreign investors or sell off our national heritage at bargain basement fire sale prices. To witness what was once income earning assets, which previously, would have all but funded the age pension, now earning a king's ransom to tax avoiding, profit repatriating, debt-laden foreign speculators.

Furthermore, former co-ops privatized or sold off to the very foreign firms we used to compete with and win, thanks to an enviable, clean, green reputation.

OUR economic sovereignty sold down the river to finance partisan party politics or electioneering?

We need to prioritize super funds that outperform and wind up those that are at best, very second rate performers, save for the commision they pay their alleged managers!?

Moreover, we need to create an investment vehicle right here to see those funds back here and working for us in OUR economy, not everybody else's. And that investment vehicles are self-terminating, thirty years, tax-free investment bonds.

Tax-free in the sure and certain knowledge these funds don't contribute to OUR consolidated revenue now, just everyone else's.

And be directed at any and all infrastructure projects that generated a return,i.e., low-cost energy projects and income earning space age desal projects that turn barren wasteland into veritable gardens of Eden and just in time for the next boom the food boom!
Alan B.

Thanks for the good, succinct discussion starter on a very important subject.

Superannuation is only one side of the equation. If/when the subject of intergenerational transfers with minimum to nil friction is addressed, the sharpest knives will be wielded by those with the loudest voices. I'm thinking of death duties, of course, but in the wider sense.

My kids are pretty safe. There won't be much more than a debt free house in my estate to concern them when the time comes and they all have no interest in living in "the bush".

Considering that government hospitals etc deliver medical services to the public at roughly 30% higher costs than private hospitals, I would not consider Medicare a benchmark model of competence.