top 1% have more wealth than the bottom 70% in Australia

  1. 46,202 Posts.
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    This is another reason why the LNP federal govt is on the nose.

    While the number of billionaires continue to grow the gap
    between those at the top and the great majority of Australians
    is also growing.

    Today I saw an interview of a representative from Oxfam and was surprised
    to hear that social inequity in Australia is so profound.

    At a time when wages for the masses haven’t moved much and housing
    affordability is a huge issue, the rich are getting richer.

    Australians should ponder why the focus of the govt has been on decreasing the
    tax for the top end including multi-nationals given the alarming trend which has
    the top 1% having more wealth than the combined total of the bottom 70%.

    It’s not on! It tells us something is wrong.

    I think the voters now believe its time for a change so the scales
    of economic justice can be rebalanced to provide greater equity for the majority.

    https://www.theguardian.com/austral...-more-wealth-than-bottom-70-per-cent-combined
 
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