Mannkal Economic Education Foundation


“Do not expect water from an empty well!”

Ron Manners

20 May 2014

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Budget comment


The wise old Chinese philosopher Four Finger Wu used to say, “Do not expect water from an empty well!”, when he realized there was nothing there to feed your fantasies.


Yes, it’s time to look after ourselves, even after spending so many years living at the expense of others.


“Others”, in reality ourselves, have become tired of paying everyone else’s expenses now that they realize so little comes out the other end after politics and the bureaucracy “skims the cream off”, as it passes through so many government departments.


Federal and State budgets have come and gone again with the usual amount of squealing from those who feel disadvantaged after being reminded that “the age of entitlement is over” (as announced by Federal Treasurer, Joe Hockey).


Interestingly enough our Prime Minister, Tony Abbott, has simultaneously announced that “the age of entitlement is just beginning” (with his Parental Leave Scheme where we are now expected to pay people to stay home and share quality time with their children).  Yes, it is us paying as we are the shareholders, through our compulsory superannuation funds, who own shares in the companies that are now to pay the Parental Leave Tax.


On the positive side, these budgets, State and Federal, have brought on many statistics to prompt us to face reality.


1.       Australia is now one of the highest taxed countries (I bet you don’t know how much total tax you are paying, as it is a mammoth job to add all the hidden taxes together.  It is possible for you to pay 84% total tax in one year in Australia).

2.       Australia’s household debt is now amongst the world’s highest so where do we go from here?

3.       Australia is paying $90 million to search for someone else’s plane (Malaysian Airlines MH 370), without us being told if this amount is to come from either of the following two options;

·         Our existing foreign aid budget (which means that some other numbers are to be reduced).


·         By borrowing more from China.


Perhaps it is fair to observe that nothing much will change until “we, the people”, accept responsibility for our own selves and families. 


Do you see many of us sending back our welfare payments? (Family support, health, education and, in particular, the corporate welfare payments).  However, let me mention that pensions are not welfare payments to those who have paid taxes.


The French philosopher, Frédéric Bastiat, over 150 years ago must have had in mind Australia 2014 when he said, “The Government is that great fiction by which everyone tries to live at the expense of everyone else.”


However, at least we still have the best beaches in the world!

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