Help, I’m sinking

14 Feb

When the rich get richer, the poor always, always get poorer. Trickle down does not work, never has never will. To create any degree of success towards equity, policies must lift the poor out of destitution. That’s the only way society, as a whole, improves.

The Australian Independent Media Network

leaky boat

In a press conference today, Joe Hockey repeated his catchphrase yet again:

“Lift the tide and all boats will rise”

Well I’m sorry Mr Hockey but the figures don’t back you up on that theory.

In August last year, the Australian Bureau of Statistics released the statistics on Household Wealth and Wealth Distribution, Australia, 2011–12.

The ABS reported that:

“While the mean (average) household net worth of all households in Australia in 2011-12 was $728,000, the median (i.e. the mid-point when all households are ranked in ascending order of net worth) was substantially lower at $434,000 … This difference reflects the asymmetric distribution of wealth between households, where a relatively small number of households had high net worth and a relatively large number of households had low net worth.”

Some rather disturbing statistics:

  • Between 1980 and 2008, 22 per cent of all growth in Australia’s household income went to the…

View original post 459 more words

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