Oh FFS: A Grim New Report Shows Just 10% Of Aussies Earn Nearly Half The Country’s Cash

It definitely ain’t breaking news that there’s a big ol’ inequality gap in Australia. However, a new study by the Australian Council of Social Service (ACOSS) has provided some context on how bad the sitch actually is. According to the report, the richest 10 per cent of Aussie households have an average household wealth of $6.1 million as per SBS. The kicker? That’s nearly half of the nation’s total wealth at 46 per cent. Consider my gob well and truly smacked. The reverse end of the inequality spectrum is even more horrifying. The bottom 60 per cent of households on the earnings scale cop a share of just 17 per cent of Australia’s total flow of cash. We’ve dug ourselves such a deep inequality hole that not even abstaining from avocado consumption will dig us out. Edwina MacDonald 

SBSright hereAnthony Albanesehere

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