Letter to the Editor: It’s the inequality

DEAR News Of The Area,

IN the upcoming election, anyone who is not a billionaire, which is most of us, should bear in mind a few facts.

According to the ABS, Australia’s GDP growth since 2020 was 9.3 percent.

Meanwhile, according to Oxfam, corporate profits rose by 22.1 percent.

Australia’s billionaire class increased their wealth by 70.5 percent, and the three richest Australians (Gina Rinehart, Andrew Forrest and Harry Triguboff) increased their wealth by 200 percent.

So, if GDP was only 9.3 percent, where do you think the billionaire class got the rest?

From workers, small business owners, tax payers, you!

We are living through the greatest wealth transfer in the history of humankind.

This is not a glitch in the economy, this is a design feature that will deprive your children and grandchildren of the opportunities that you once had, and it should be your absolute number one issue in the upcoming election.

Wealth inequality lies at the heart of almost every other problem facing our society: crime, drug abuse, child poverty, housing affordability, cost of living, immigration, health care, and even the climate crisis.

These can all be traced to inequality that is slowly and surely shifting wealth towards a very small segment of society while our children are going to be poorer than us.

We need to vote for a future that rewards people who are dedicated to their work, not just those dedicated to accumulating assets.

We need to course-correct our system so that it requires everyone to contribute to society and bring justice for ourselves and for the generations to come. If we do, our great grandchildren will remember and celebrate us for it.

Regards,
Marcus BAYNES-ROCK,
Coffs Harbour.