30% Rise in millionaires paying $NO Tax, page-43

Correct! Ordinary folk get billed at the same percentage as the rich and no escaping it for them. Some of the ultra rich on the other hand will buy their luxury car as part of the business etc. and come out well in front. Some are adroit at not only avoiding income tax but the GST also because businesses can claim offsets for the GST.

I am pessimistic about this ever being righted because all the over world the rich are getting a greater share of the pie while for the masses its belt tightening. In the USA and Russia the demagogues eat most of the pie while the masses try to scrape a living for whats left.

This has given rise to populist movements that are failing because they target the wrong issues eg immigration as the cause of their woes ignoring the fact the reality is the wealth is being accumulated disproportionately by the filthy rich.

In the USA the richest 1% of the population carry more wealth than the total of the bottom 90%.(source wikipedia)

Staggering isn’t it!

The populist movement solution in the USA is to elect a billionaire demagogue who is being backed by the filthy rich and suckering in the masses into believing immigration is the problem. While the populist masses focus on the red herring of immigration Trump and his mates are extending their personal wealth amassing all over the world. A Trump Tower in the Phillipines for example! The suckers have been reeled in and even if Trump is booted out in four years he and his families billions will have massively increased. Personal objective achieved.

In the meantime the richest 1% will likely hold more wealth than the whole total of 95% of the rest, particularly given the tax handouts by Trump to the rich which includes himself. The suckers bought it lol!

In Australia the solution by the govt appears to try and follow suit. Big tax cuts to the big end of town. However, here, unlike the USA the people are not buying it!

cheers