Have a read of this. It is not the whole story I don’t think, and the number of commments suggesting there are other things to consider would back this up, but, over-all, it does paint a pretty good picture that Australians, by and large, are doing pretty well. Which is good to hear because for a while (about a nano-second) I was really beginning to feel for the ‘battlers’ on $150,00 with the spectre of a $500 for the Carbon Tax hanging over their heads. But apparently, bleeding heart articles about how people on high incomes are struggling because of decision they made to buy f*&k-off big houses are just another way our media sucks.
As I said I don’t think the article is the whole story. I don’t think the difference between the growth in income between the richest 10% and poor 10% has been handled well for instance. It’s all very well to talk about there only being 1% difference, in favour of the richest 10%, in the growth of incomes but it glosses over the fact that 4% of a large salary is a lot more than 4% of a small salary. And it also doesn’t cover the idea that the biggest problem is the top 1% versus the rest of us, a problem whose size is show here. And, as a large number of commenters have indicated, it is a bit hazy how the issue of private debt it dealt with. It seems that we Australians have taken the chance while things are good to put ourselves in to debt up to our eyeballs. I would also have liked to have seen something on the disparity between mining and no-mining incomes as well. I imagine that if you are working in a non-mining job in a place like Karratha then life might be a bit tougher for you. It also, as some commenters have indicated, skates around any other measures of succes such as happiness, quality of environment, over-all social equality etc.
But, over-all, I think it is a thought provoking article. Hopefully it will make more people think twice before complaining about how bad their lot is.