Did you know that 10 per cent of Australians now hold more wealth than the other 90 per cent combined? Let me put it another way. The richest one per cent of Australians are collectively wealthier than the poorest 60 per cent. Or try this 62 mega-rich people across the globe now hold as much wealth as 3.6 billion of the world’s poorest. Try this. Australia’s richest person was worth $18 billion, equaling the wealth held by the poorest 10 per cent of Aussies.Here’s some more from an Oxfam report titled “An Economy for the 1%“: The world’s richest 1% now hold more wealth than the rest of the planet. The richest 10 per cent of Australians hold more wealth than the other 90 per cent combined. The gap between Australia’s richest and poorest is accelerating. In 2015, the wealth of Australia’s richest 1% outstripped the poorest 60%. Australia’s richest person is worth more than all of the wealth held by the poorest 10 per cent of Australians. Dr Szoke from Oxfam, the reports writer, said Australia must be part of a global solution to a global problem, and a renewed international focus on corporate tax avoidance would be critical to efforts to address wealth inequality.So isn’t it odd that the Turnbull Government is contemplating increasing the rate of its consumer tax in order to give the same companies a reduction in the amount of tax they pay. Figure that out.

Source: Day to Day Politics: Ideology versus the Common Good – » The Australian Independent Media Network