An inequity stacked system
While the financial well-being of everyday Australians has been hit hard by COVID-19, it’s quite the opposite at the top end of town. “Australia’s billionaires have thrived during the pandemic year”, is how the AFR puts it. But let’s not laud this as an achievement. It’s a glaring signal the system is stacked. Through the worst economic crisis in a generation, the elite got richer while millions of Australians just hung on, or saw their slim assets evaporate.