-- from above--

I challenge you, look around where you are and take note of the percentage of stuff that still exists that has been made by the elderly. There is usually not much to be found. Even things like roads in older suburbs don't qualify- because any existing old road would have has been redesigned/reshaped/resurfaced many times by now.

For myself, I retired at 40 and haven't produced anything for about 7 years now**. And with every passing year the things I've done become less and less relevant and their impact is rapidly diminishing. Many things have even disappeared completely and have been replaced by new stuff.

In short, elderly people who've been out of the workforce for a while, eg. most of those who regularly comment here, have contributed comparatively little to the current wealth of society. The current working generation owes very little to these people!

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*:Typically, it takes about 25 years for some to become a major contributor then it peaks in their 40's and then they become less useful due to ageing. By the time people are 65 and retiring their productivity is no where near what their maximum potential was (or could have been in the right circumstances).
**:I'm a still an active investor though- so this contributing to the economy but not directly by producing physical goods/services.

Wages go up when employers are competing for the available employees, It's just the old supply-and-demand rule.

The real reason the government always tries to keep a pool of around 4% unemployed is in order to keep wages down and the main reason for our reduced wage growth over the years is because the unions have been weakened and prevented from representing workers in many areas.
Productivity and profits have not been fairly shared.

Also, some people are reluctant to sell their labour too cheaply. For example the recent cuts in penalty rates for workers in the hospitality industry failed to create more jobs in that area (surprise surprise!) and it seems many are no longer prepared to be "the working poor".

'Pig Iron' Bob, the founder of the LIBERAL PARTY, believed 10% unemployed was an acceptable number to keep workers under control. The old bastard also believed "the working woman" was an untapped cheap labour resource to exploit, that would boost profits and suppress wages. He also believed migrants were nothing more than "factory fodder" to be used for the purpose of exploitation.

I see nothing has changed with the LIBERAL PARTY, suppress wagers, exploit women and bring in cheap labour.

Pauliar,

I suppose you have some proof of this? I believe you are just lying and making up stuff again. The pedogreens are the ones trying to put everyone out of work.

Historical facts shonky, historical facts, just like its a fact Julius Caesar tried to invade Britain. All I say about the NAZI admirer 'Pig Iron' Bob, founder of the LIBERAL PARTY is true. There are several publications you can read that verify those facts, but not your regular Murdoch Gutter Press.

The conundrum of the individual, being philosophically opposed to welfare, and a myriad of other people and things, how does one justify ones own largesse from the tax payer, in the form of an Aged Pension, and at the same time not appearing to be a hypocrite of the undeserving type? Simple, place YOUR aged welfare into another category, in fact don't refer to it as welfare at all. Create a myth that your Aged Pension is simply recompense for your non-existent contributions to a non-existent pension fund. Failing that, just claim it is your rightful return for past payment of pensions, paid to others by you, when you were on Centerlink benefits.