Quote:
Originally Posted by Renato1
That is not accurate. By the Credit Swisse Global Wealth report, the richest 10% of Australians own 50% of the wealth, which is a much better outcome than say the USA, where the top 10% own 76% of the wealth, and the UK where the top 10% own 85% of the wealth. And there are plenty of countries where that percentage is much higher.
As for paying minimal tax, that winds up being incorrect to. Most of the tax revenue comes from companies and the top 35% of taxpayers. Yes, we always used to see articles and news bulletins how people like Kerry Packer only paid 13 cents in the dollar tax. What none of those articles pointed out was the reason he only paid 13 cents in the dollar was because his companies had paid the other 33 cents in the dollar - and that people like Paul Keating had bought in something called Franking Credits to make sure that people were only taxed once on their income, rather than being unfairly taxed twice (which would have made them eventually move overseas).
Regards,
Renato
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There are many statistics that can be quoted (my OP should have read 10% not 1% - thanks for correction) that paint a disturbing picture and trend, such as the poorest 20% of Australians owning only 1% of the country's wealth.
The trend in the US is stark. The 1950s are commonly viewed as the peak in US standard of living. In the 1950s, the top 400 richest Americans earned on average 13 million dollars per year and typically paid 52% in income tax. By the year 2007, the top 400 richest Americans earned on average just under 300 million dollars per year each and paid about 18% tax.
The model in the west is to socialise costs and risk, whilst privatising profits and power. Its one big corporate banking scam - a ponzy scheme.
Social Problems tend to center around distribution and equity - and politically shutting out the majority of the citizenry from decision making processes and our country's vast wealth and opportunities.
This ain't no Democracy we live in folks - it's like Mussolini said "Fascism should be called corporatism because it is the merger of state and corporate power"
I wonder whether Murdoch supports democratic social structures - what does Bolt say in his editorials?
......meanwhile it is predicted that 1% of the worlds population will control abotu 50% of the globe's wealth by the year 2016 - not too far away folks
http://www.abc.net.au/news/2015-01-2...e-rise/6027744