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There's a much simpler solution - similar to what China has:
A. Ditch the senate, it won't be needed
B. Ditch the whole business of elections, too. This means pollies can make rational decisions rather than "how do I get reelected"
C. Run the country as a series of committees of competent people.
D. Pollies are selected to sit on the committees for a fixed, one-off 8 year term - not elected - based on there professional achievements in other walks of life - barring sports and media personalities. This is long enough to give them some sense of tenure and make it worthwhile but after the 8 years you're out.
This is staggered too, so that only a few enter government at a time when a vacancy arises - no "Big Bang" election. Our election cycle is very disruptive.
IMHO our system is less efficient, makes poorer decisions and is more corrupt than china.
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