{"id":5796,"date":"2012-10-23T01:30:39","date_gmt":"2012-10-23T05:30:39","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5796"},"modified":"2012-10-23T01:30:39","modified_gmt":"2012-10-23T05:30:39","slug":"australia-becoming-a-welfare-dependent-state","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/","title":{"rendered":"Australia: Becoming a welfare-dependent state"},"content":{"rendered":"<p>Extract from an opinion by Robert Carling:<\/p>\n<blockquote><p>In democratic welfare states, the proportion of the electorate that attracts more in social benefits from government than it pays in tax has become so large that candidates who promise to curb the welfare state have a hard time winning elections.<\/p>\n<p>The same issue has been raised in the United Kingdom, where a recent study by the Centre for Policy Studies revealed that 53.4% of households receive more in benefits than they pay in taxes&#8230;&#8230;<\/p>\n<p>The Australian Bureau of Statistics (ABS) has compiled data on total taxes paid [including GST] and total social benefits (cash and in kind) received by households in 2009\u201310 classified into five slices (quintiles) from bottom to top according to their private income. The first three quintiles (that is, 60% of households) each received more in direct social benefits than they paid in taxes&#8230;&#8230;<\/p><\/blockquote>\n<p>via <a href=\"http:\/\/www.cis.org.au\/media-information\/opinion-pieces\/article\/4588-self-sustaining-leviathan\">Centre for Independent Studies: Self-sustaining leviathan<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Extract from an opinion by Robert Carling: In democratic welfare states, the proportion of the electorate that attracts more in social benefits from government than it pays in tax has become so large that candidates who promise to curb the welfare state have a hard time winning elections. The same issue has been raised in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australia: Becoming a welfare-dependent state&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,5],"tags":[3351,3657,3658],"class_list":["post-5796","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-economy","tag-taxes","tag-welfare-benefits","tag-welfare-dependancy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australia: Becoming a welfare-dependent state - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia: Becoming a welfare-dependent state - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Extract from an opinion by Robert Carling: In democratic welfare states, the proportion of the electorate that attracts more in social benefits from government than it pays in tax has become so large that candidates who promise to curb the welfare state have a hard time winning elections. The same issue has been raised in &hellip; Continue reading &quot;Australia: Becoming a welfare-dependent state&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-10-23T05:30:39+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Australia: Becoming a welfare-dependent state\",\"datePublished\":\"2012-10-23T05:30:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\"},\"wordCount\":154,\"commentCount\":23,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"taxes\",\"welfare benefits\",\"welfare dependancy\"],\"articleSection\":[\"Australia &amp; NZ\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\",\"name\":\"Australia: Becoming a welfare-dependent state - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-10-23T05:30:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/23\/australia-becoming-a-welfare-dependent-state\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Australia: Becoming a welfare-dependent state\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1vu","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6202,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/16\/us-poverty-rates\/","url_meta":{"origin":5796,"position":0},"title":"US: Poverty rates","author":"Colin Twiggs","date":"November 16, 2012","format":false,"excerpt":"From the US Department of Health & Human Services: I suspect that most US voters are concerned about poverty (don't believe everything you are told during an election) but where they differ is on how to address the issue. The view from the left is to raise taxes on the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5347,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/28\/sweden-paper-august-2012-pdf-applicationpdf-object\/","url_meta":{"origin":5796,"position":1},"title":"Sweden: Failure of the welfare state experiment","author":"Colin Twiggs","date":"August 28, 2012","format":false,"excerpt":".....Sweden has a large welfare state and is successful. This is often seen as a proof that a \u2018third way\u2019 policy between socialism and capitalism works well, and that other nations can reach the same favourable social outcomes by simply expanding the size of government. If one studies Swedish history\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6735,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/17\/sweden-has-reformed-its-welfare-state-to-deliver-both-efficiency-and-equity-europp\/","url_meta":{"origin":5796,"position":2},"title":"Sweden has reformed its welfare state to deliver both efficiency and equity &#124; EUROPP","author":"Colin Twiggs","date":"February 17, 2013","format":false,"excerpt":"Will Tanner writes: At face value, the Swedish welfare state is an unlikely poster child for sustainable government. In 2011-12, government spending was 53.1 per cent of GDP, paid for by taxes on the average worker of 42.7 per cent. The country\u2019s \u201ccradle to grave\u201d social security system has long\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7534,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/04\/23\/the-magic-pudding-state-the-drum-opinion-australian-broadcasting-corporation\/","url_meta":{"origin":5796,"position":3},"title":"The magic pudding state &#8211; The Drum Opinion (Australian Broadcasting Corporation)","author":"ColinTwiggs","date":"April 23, 2013","format":false,"excerpt":"Benjamin Herscovitch writes: It seems many of us have been taken in by the conceit that the welfare state can offer never-ending free lunches. We expect governments to offer more social security payments, health care, education, etc., all the while assuming that we will not have to pay for it.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2369,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/26\/europes-last-best-chance-michael-boskin-project-syndicate\/","url_meta":{"origin":5796,"position":4},"title":"Europe\u2019s Last Best Chance &#8211; Michael Boskin &#8211; Project Syndicate","author":"ColinTwiggs","date":"November 26, 2011","format":false,"excerpt":"Reforming social-welfare benefits is the only permanent solution to Europe\u2019s crisis. One hopes that, with the help of national governments, the European Central Bank, the International Monetary Fund, and the European Financial Stability Facility, the holes in the sovereign-debt-funding dike will be temporarily plugged, and that European banks will be\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6518,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/23\/how-the-welfare-state-traps-the-poor-in-dependency-the-british-version-international-liberty\/","url_meta":{"origin":5796,"position":5},"title":"How the Welfare State Traps the Poor in Dependency, the British Version \u00ab International Liberty","author":"Colin Twiggs","date":"December 23, 2012","format":false,"excerpt":"Dan Mitchell describes how withdrawal of welfare benefits as your income rises can create a tax cliff that discourages the unemployed from seeking more work. A graphic from British newspaper The Spectator gives this example: John 21, works 25 hours per week at a gross wage of \u00a35.70 per hour.\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5796"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5796\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}