Proposal to abolish refundability of Franking Credits, page-301

I have always felt that means testing and the emphasis on the word MEAN...is an Financial Apartheid on those that prospered by taking risk or by using good management practices . The original law of paying the old age pension to those from 65 years old would be feasible providing all the other benefits and tax exceptions were abolished . From there any other personal income would be taxed at the normal PAYE rates above the old age pension tax free threshold .So I basically agree with you...