Is Australia Classless?

In celebration of Australia Day, we ponder on the national myths associated to our nation. As Americans are tagged as capitalists, and Brits being dull and conservative, Australians are commonly classified a classless society, where there is just a fine line separating the rich and the poor.

But are we living up to this notion?

Research shows that the country may have been complacent in this scenario, as most thing that wealth distribution and inequality is only a problem overseas. An Oxfam report shows the disparity between income shares, where the wealthiest 10% income has increased by as much as 60% in the past 2 decades to 2010. Meanwhile, lower paid earners income has risen only by 40% at the same time.

It is understandable that this is not just a national issue, as majority of the countries in the world are experiencing the same. Are we up to the challenge of being classless? Because if we are, we should at least talk about measures to bridge the gap between the rich and the poor.

Read more about this on the Sydney Morning Herald website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

Leave a Reply

Your email address will not be published. Required fields are marked *