The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (30354)	5/1/2005 6:21:08 PM
From: Moominoid	Read Replies (1) of 306849

Australia is definitely not a socialist country in any sense... probably less so than the US is! Superannuation is compulsory retirement saving, 9% (I think) has to be put in by employers. Those without assets end up on the age pension which is a welfare payment that makes social security look fantastically generous. There is free public healthcare in Aus, but there are tax incentives to get private health insurance and 30-40% of the population has it. This balance seems to work pretty well. The total tax burden in Aus is similar to the US but the government has hardly any debt. Marginal rates are very high on the middle class because of all the tax breaks for risk-taking investors. Since 1990-91 there hasn't been a real recession. The RBA seems to be doing a good job. Almost all higher education is public. Students take out loans to pay the tuition and pay them back according to their earnings. However, at the secondary level about 30% of children go to private schools. That's a few key points about Aus socioeconomics...

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