OFFENSIVE TO RETIREES
Of all the diatribe in this current Federal election campaign, Bill Shorten's comment that franking credit recipients are "already on the public purse" is the most offensive to retirees. Let me tell you why. Like many retirees, I worked for 50 years, generally paying the highest marginal tax rate. Accumulation superannuation funds during that time were nowhere near as flexible and generous as they are now.
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So, to make up the shortfall in our retirement income, we progressively purchased shares, often with franking credits attached.This was a core part of our retirement planning, with a central goal of avoiding any reliance on welfare payments. Well, Labor's arbitrary policy on franking credits puts paid to that! In their zeal to punish the "big end of town", we are simply collateral damage, and potentially a welfare candidate - the very thing we had striven so hard to avoid. If Labor is so hell bent on social re-engineering, how about they give people in our situation some consideration. By all means, cap the amount claimable as franking credit refunds, but don't punish those of us who believe welfare is for those whose circumstances require it.
Don Driscoll, Wollongong
THE BIGGER PICTURE
Scott Morrison's complicit economist Brian Fisher has come up with an economic model which predicts that Labor's Climate Change Policy will wipe up to $542 billion from Australia's Gross Domestic Product. Scott Morrison is now using this dishonest model to try to undermine Labor's genuine efforts to deal with climate change.
The problem is that apart from being based on some very dodgy assumptions, the Fisher Model, limits itself to looking only at the short term costs of Labor's Policy and completely ignoring any consideration of the long term benefits.
Cost/benefit analysis is a useful and legitimate tool, commonly used by economists. In essence it involves, as the name implies, looking at the assumed costs of a proposed course of action and comparing these to any benefits that may ensue. Fisher's model looks only at the short term costs.
The potential long term benefits of switching to sustainable energy sources are completely ignored. These benefits are crucial for the future of our planet.
John Martin, Woonona
A CLIMATE OF CHANGE
Community action has made climate change a key election issue. It is creating a movement that is above the political divide. A movement that is embracing young and old in action to save our planet. And it is creating an interest in this boring election.
Importantly it is restoring the real politic that has been lost in Canberra. Community action is replacing that political culture. It is challenging the stale inbred bi-partyism of the major parties. Who are concerned with their own personal survival. Not the planet's survival. The Independents and Greens who are riding on this wave will be elected by a community that is demanding action. It will restore a voice that has been lost in Canberra's bubble. It could mean an end to the bubble and address other vital issues. And will it mean that policies will receive the continuing action to ensure they are realised. And not just promises to be trotted out again at the next election.
Reg Wilding, Wollongong
