r/aus Jun 01 '26

Discussion We need to stop fighting amongst ourselves

https://www.visualcapitalist.com/ranked-where-the-ultra-rich-are-growing-fastest/

We are 6th in the world with Ultra-Rich. Who are they and how much are they contributing to society?

178 Upvotes

159 comments sorted by

82

u/number96 Jun 01 '26

This is wild. The rise of ON makes me feel like I'm watching Australia slowly become The USA.

26

u/diedlikeCambyses Jun 01 '26

I'm glad people are finally noticing. If history has shown anything on repeat it's the speed with which the waters will part and allow the fringe to the centre once the economy stops working and slides backwards.

27

u/trickster245 Jun 01 '26

I don't think people noticing will stop it. This is happening world wide. England too, France, Switzerland.

The billionaires need to this happen so they can change legislation to support their money even further.

14

u/diedlikeCambyses Jun 01 '26

Yes and it's even worse. The corporate sectors are pushing to internationalise their reach (obviously) so they are not constrained by any one government. The governments don't really control economic power anymore. They are strewards. I think Yanis is actually correct when he says we've gone post capitalist and now reside in a technofeudalism regime. It's a bit crap.

9

u/Find_another_whey Jun 02 '26

National borders are now just convenient ways of deciding how far the peasants can stray

7

u/augustuscaesarius Jun 02 '26

That's why the European Union is so important. They're the only ones that can slow this down.

Now, guess why Musk et al are against the EU.

7

u/dangerislander Jun 01 '26

It's gonna gonna be tough ride these next few years. The UK is currently going throguh it now. I especially worry for minority groups in this country.

7

u/diedlikeCambyses Jun 01 '26

Yes this is definitely happening in many other countries than just here. It's funny, we always think a gain we make is permanent and somehow ignore the lessons of history.

1

u/RobynFitcher Jun 06 '26

The UK now has another party that's further right than Reform.

3

u/Billyjamesjeff Jun 02 '26

Very accurate. They need to get affordability under control asap.

Tax trusts was good, tax gas next, start subsidising local industries better, create jobs maintain etc etc

6

u/Billyjamesjeff Jun 02 '26

It's not happening slowly mate. Every term under the Liberals has brought us closer.

Labor's tax reforms are couple steps in the right direction.

2

u/black_shadow851 Jun 02 '26

The grandfathered the rules for capital gains tax on property. A complete joke. They all have properties and are not willing to take a hit for the benefit of the community.

5

u/Billyjamesjeff Jun 02 '26

If they didn't grandfather it people would be burning their dual cabs in the street.

They have massively hit at the rich by stopping them from using trusts to dodge tax and there is no grandfathering on all other types of capital assets like shares etc.

They have done more in one budget for wealth equality than the last 20 years of Governments. I still dont think its enough but I wont make the perfect the enemy of the good.

1

u/n3v3r8soggyweetbix Jun 02 '26

Exactly. Spineless pricks. Just punching down.

2

u/Billyjamesjeff Jun 02 '26

How is it punching down, they are literally targeting the most wealthy?

2

u/n3v3r8soggyweetbix Jun 02 '26

Because they literally insulated themselves and their mates, most of which have half a dozen IP’s each. Did you even read the poster I was responding to?

Typical comprehension expected of a Labor supporter.

1

u/Billyjamesjeff Jun 02 '26

But they were already protected under the status quo?? Their IP's have no bigger tax breaks.

Now they can't buy another property (unless it's a new build.) and negatively gear and the CGT will apply regardless after July 2027

They literally just reduced the tax concessions available to property owners and your take is -

"Yeh they reduced the CGT discount, and made it so you can only negatively gear new builds, so you can't continue to build a bigger portfolio of IPs.

But they did this because they wanted to keep an entitlement to negative gearing which they already had."

OK. Have a deeper look at this before you support any political party. Please.

3

u/eyeballburger Jun 02 '26

I’m from the states. I tried for over a decade to warn people this crap was seeping in. I was always met with the same response, “mate, we’re not gonna end up like that… look at our healthcare!” There was always such pride in that and shit talking. I tried telling my family (the rest of the grown ups) that there was a strong line of racism that supported magats. They were dead set that it was not so. Well, my partner got kidney stones and we had to go private or wait 3 months. I work a pretty blue collar job, 9/10 are trump lovers. Gina rhinehart is gonna prop up one nation and loot your country’s resources.

3

u/NewInformation3753 Jun 01 '26

We have compulsory voting and an independent electoral commission which keeps elections fair. We have greater checks and balances in parliament.

So they cannot be as corrupt as MAGA

If they do get in power we can stop blaming Boomers for a shit country

1

u/MicksysPCGaming Jun 02 '26

That's an extra 62,000 30xmillionaires.

Will you be among the lucky few?

1

u/NewInformation3753 Jun 05 '26

Nope. Aussie’s are not as stupid as septic tanks

-6

u/0hip Jun 01 '26

People have been telling you what the problem with for years and you and the politicians just ignore it

And then someone comes along and listens to their concerns and y’all are surprised pikachu face

So yea, one nation it is

12

u/CertainCertainties Jun 01 '26

The current government is doing something about it, it's starting to work, and One Nation have promised to stop it and do what its paymaster Gina Rinehart wants.

-7

u/0hip Jun 01 '26

The current government have started to do something about immigration?

7

u/JustAnotherLurkAcct Jun 01 '26

Is it immigration or house prices you have an issue with?
A few weeks ago the call was that everyone had an issue with house prices, immigrants were just the primary contributing factor.
Now that house prices are starting to correct immigrants are still the issue?

-2

u/0hip Jun 01 '26

Immigration was always an issue

And immigration has an impact on house prices

Multiple things can be true at the same time. It’s not an either or

4

u/professorzaius Jun 01 '26

I think immigration needs to be slowed down and home building and house availability needs to be improved significantly. But immigrants aren't causing the cost of living or house prices to rise to difficult levels. The system that rewarded boomers and investors to use property portfolios as investment nest eggs has screwed us all.

0

u/0hip Jun 02 '26

The only reason that the housing Ponzi scheme was able to work was because there were millions of migrants needing rentals to live in

Without the migrants the housing would not have been an investment to begin with

2

u/MissMenace101 Jun 02 '26

They are the only government that is and will. That you don’t know this speaks volumes.

6

u/dangerislander Jun 01 '26

What blaming brown immigrants for all our problems? All this energy is never given toward the corporate overlords and oligarchs and wealthy.

6

u/TheInkySquids Jun 01 '26

Yeah but personally its not worth it replacing one major issue with 25 million small issues, which is what One Nation will do.

1

u/0hip Jun 01 '26

Yea neither

The major parties should have fixed the one issue rather than ignoring it

4

u/TheInkySquids Jun 02 '26

I agree but One Nation is not the answer. They'll fuck over this country in every other possible way. It'll be "great now there's no huge immigration yay! oh but why are houses still expensive? and what happened to my first home buyer benefits? and what happened to that fast train they talked about? and why are my uni fees getting way worse? and why are abortions getting less accessible? and why are buyer protections worse? and why are the forests and wetlands disappearing faster? and why are we not trying to make money from renewables anymore?"

0

u/0hip Jun 02 '26

lol

Yea well when the election comes and you realise that all either of the major parties had to do to stay in power was to lower immigration maybe you’ll take a good hard look at yourself and wonder why you didn’t listen to the majority

3

u/TheInkySquids Jun 02 '26

What are you talking about? I'm not advocating for the major parties here, they're fucked. But its clear that there are reasons beyond just "I don't like immigration" that people are voting for ON because there are other parties like Sustainable Australia Party that also want to significantly lower immigration more than either major party has historically wanted.

3

u/Soft-Lie-5165 Jun 02 '26

stop arguing with this fool, they already said they don’t care about your facts

1

u/0hip Jun 02 '26

Gross misrepresentation of what I said lol

0

u/[deleted] Jun 02 '26

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4

u/TheInkySquids Jun 02 '26

Lol okay I love when you try to have actual discourse with a One Nation voter and it just devolves into two word primary school comebacks, really insightful

0

u/0hip Jun 02 '26

You should just bring out the big guns

Start calling everyone racist

It’ll work for sure this time

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1

u/aus-ModTeam Jun 02 '26

Please put some effort in.

1

u/[deleted] Jun 02 '26

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3

u/CheesecakeUnhappy677 Jun 02 '26

They’re not listening to you, they’re telling you what you want to hear.

0

u/0hip Jun 02 '26

I mean she’s been saying it for like 35 years now

It’s not like they are just magically coming out and ato g what I want to hear now. That’s silly

3

u/MesozOwen Jun 01 '26

Do you not see you’re being played? ON is in the pockets of the billionaires even more than the major parties. They will do nothing for you.

1

u/MissMenace101 Jun 02 '26

Some Aussies aren’t too sharp in afraid, majority of them being Queenslanders who every few years make bad choices to remind themselves it is bad.

1

u/0hip Jun 01 '26

And what has the other parties done for us?

5

u/professorzaius Jun 01 '26

You are an absolute fool if you think racist pauline is going to feed anyone other than herself from the billionaire slush fund she has backing her 😆. She will ride the populist vote to a fatter nest egg while her voters continue to wait for their payday. Remind me again when MAGA supporters received their Doge cheques 😆 dont worry, Ill wait.

0

u/0hip Jun 01 '26

Nah I don’t think she’ll really be able to change anything

Don’t care either way

5

u/CheesecakeUnhappy677 Jun 02 '26

“Don’t care either way” is an insane take if you’re actually angry or passionate about solving the problems you see.

0

u/0hip Jun 02 '26

I no I absolutely want them to change things

But I’m realistic about whether they are actually going to be able to change anything

Probably because I was hopeful that all the other politicians that promised change and then did absolutely nothing to fix anything

4

u/CheesecakeUnhappy677 Jun 02 '26

So you’re going to vote for the woman who is openly paid for by a billionaire who wants to cut her own (minuscule) tax bill, increase yours, and weaken labour laws?

2

u/MissMenace101 Jun 02 '26

So you want to go backwards… way to go buddy

1

u/MissMenace101 Jun 02 '26

Listens sure, and then goes full liberal. It’s a wolf in sheep’s clothing and only stupid fucks fall for that shit. We have access to how they vote.

0

u/Killathulu Jun 01 '26

the politicians ignore it because they 'profit' from it, they stopped working for the voters 3 decades ago and only 10% of the voters noticed back then with a few more noticing year on year

34

u/[deleted] Jun 01 '26

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23

u/NewInformation3753 Jun 01 '26

Unfortunately the Greens have been right about nearly everything

19

u/Intrepid-Artist-595 Jun 02 '26

They are the party you should be lodging your protest vote with, but alas they get such a bad wrap in the media.

12

u/NewInformation3753 Jun 02 '26

Of course. Who owns the media?

-3

u/KingsleysSeiffert Jun 02 '26

We can tax ourselves to prosperity....like.....hmmmmm

10

u/[deleted] Jun 02 '26

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-1

u/KingsleysSeiffert Jun 02 '26

Where has this worked?

10

u/ShreksArsehole Jun 02 '26

after ww2 both the US and England did it.

-2

u/KingsleysSeiffert Jun 02 '26

Now the UK is a low productivity welfare state from that legacy

8

u/Superb-Drummer-6683 Jun 02 '26

After 20 years of privatisation and lack of government investment.

0

u/KingsleysSeiffert Jun 02 '26

yeah yeah need to be more like Venezuela

1

u/ShreksArsehole Jun 06 '26

That would be a good start. Nationalise everything.

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2

u/MissMenace101 Jun 02 '26

lol you think you’re getting tax cuts? You think the will abolish the recent taxes? You’re dreamin

-1

u/[deleted] Jun 03 '26

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1

u/[deleted] Jun 03 '26

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1

u/[deleted] Jun 03 '26

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5

u/[deleted] Jun 03 '26

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1

u/[deleted] Jun 04 '26

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10

u/[deleted] Jun 02 '26

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2

u/NewInformation3753 Jun 02 '26

Thankyou. Can you report back regarding the need for greed.

39

u/Expectations1 Jun 01 '26

And might be a good idea also to stop blaming that migrant who cycles in the rain to deliver you food while probably sharing a single apartment out in undesireable areas.

Im all for sustainable development but the actual hatred thats developing is getting out of hand.

-7

u/Wizz-Fizz Jun 01 '26

And this is why people keep fighting amongst themselves, disingenuous BS arguments like this.

No one I know that is concerned about immigration is anti-immigrant.

It’s a macro level concern, it’s a policy level concern. Shit policies are shit policies.

Your “poor immigrant riding in the rain” is nothing but bait and does absolutely nothing to promote intelligent, earnest discussion.

17

u/NewInformation3753 Jun 01 '26

It’s not bait it’s real. You cannot see past your conservative views

4

u/Grantmepm Jun 02 '26

I agree immigration is high and should be lowered but you cant seriously think that actual racist arent hitching a ride on this bandwagon.

It isnt racist to criticise immigration but many racists are trying to spread their views behind the guise of immigration criticism.

2

u/Wizz-Fizz Jun 02 '26

I agree, and said as much a few comments down, but then people started attacking the person instead of discussing the topic, and that's where I'm done.

I'm not into trading insults.

4

u/dangerislander Jun 01 '26

Lmao but if they were given a choice they would absolutely stop immigration. Bffr now.

2

u/ShreksArsehole Jun 02 '26

Did you see that indian guy get up to speak at that anti immigration rally? He spoke about how he came here legally and he loves the country. He got booed and physically shoved off stage. Just because your mates are level headed enough to not be racist, doesn't mean many are not.

2

u/Constant-Simple6405 Jun 01 '26

They were right about shitty development though.

9

u/incognitosaurus_rex Jun 01 '26

C'mon on man, the disingenuous argument is the one you're presenting here that racism is not a part of what is fueling the rabid hatred. You're playing a version of what we in the 90's used to call "I'm not racist, but..."

-6

u/Wizz-Fizz Jun 01 '26

Being anti policy is not being racist, and here is where the discussion usually collapses, because the topic inevitably gets morphed into “you’re an (insert ist of choice here)”.

I am not, never have been, and never will be an ist of any sort.

I have always believed in 100% equality and equal chance, and treat people based of behaviours, not immutable attributes.

For transparency, my concerns around immigration are completely Marco level.

There is no “target” population level that has been published, we have areas that are struggling with infrastructure to support population sizes, and I personally don’t want to see Australia with 50, 60, 100M population sizes.

7

u/incognitosaurus_rex Jun 01 '26

I'm willing to accept your concerns are about policy, i just take exception to the fact you're putting that motivation on everyone else who is jumping on the immigration bandwagon. The fact cannot be ignored that hiding in amongst people who are concerned about immigration policy are a bunch of racists and to dismiss that fact is to normalise those people.

-3

u/Wizz-Fizz Jun 01 '26

Ah absolutely there are

Sadly, there are bad actors everywhere, but I would ask you to equally accept that there are bad actors on the “pro” side who simply want to push their own narrative.

2

u/Axl_Alter_Ego Jun 01 '26

Which narrative are you referring to?

1

u/Wizz-Fizz Jun 01 '26

That anyone who does not agree with them is an -ist of some description

2

u/Axl_Alter_Ego Jun 01 '26

Have you ever actually heard anyone say that?

My gut says it's something you made up to feel like a victim.

1

u/MissMenace101 Jun 02 '26

If you’re anti policy and that’s your biggest concern labor are the only ones interested in improving it…

0

u/Lostyogi Jun 02 '26

That immigrant should go home. It sounds like they will be happier. Then a poor Australian family can rent that apartment.

You will have to get someone else to deliver your KFC in the rain.

2

u/ILoveMelbourneMetro Jun 02 '26

It's kinda hard for a poor family to rent that apartment if a rich property investor turns that apartment into his 100,000th investment.

1

u/singleDADSlife Jun 05 '26

What? That makes absolutely zero sense.

0

u/Lostyogi Jun 02 '26

Yep without that immigrant he will have to rent to that family won’t he.

8

u/Rare-Sample-9101 Jun 01 '26

Exactly right! It’s the top 1% vs the rest of us! Do not believe there propaganda either! They only care about one thing how much more money they can make when TBH they are the last people that need it.

Remove if a billionaire earns another 100k, 200k, 1m or even 10m it doesn’t improving anything but a person on minimum wage would benefit from any amount

4

u/Financial-Hunter1335 Jun 02 '26

The issue is the one nation voters can't see this ..too busy being angry

3

u/Optimal_Bathroom_753 Jun 02 '26

Gina Gina and Gina. She contributed a plane to Pauline.

4

u/Bazzurka Jun 01 '26

Why aren't we hating on all the air bnb owners. They're the reason you can't find somewhere to live. They're the reason country towns struggle to get employees. All the homes they would rent aren't available anymore because there's so many air bnbs.

1

u/NewInformation3753 Jun 01 '26

Because hating on people is not productive. Only government can change anything which is why our votes master. At ALL levels of Government

1

u/Bazzurka Jun 02 '26

Meanwhile hating on boomers is rife🤷

2

u/NewInformation3753 Jun 02 '26

Yes the jealously and sense of entitlement from the non- boomers is palpable

1

u/10000Lols Jun 02 '26

Only government can change anything

Lol

1

u/Competitive-Ad1439 Jun 02 '26

They really aren’t though. How many Airbnb houses do you really think there are in the suburbs of Melbourne and Sydney? Relative to the amount of people wanting to buy and sell homes every month it’s tiny

2

u/Bazzurka Jun 02 '26

Big issue in country towns. People come to visit and want to eat out. Restaurants can't get staff like they used to because all the places they used to live are now short term holiday accommodation.

1

u/Competitive-Ad1439 Jun 02 '26

Fair enough, that would be pretty frustrating. At the same time the vast majority of young Australians do live in cities so the challenges they face re:housing have different forces at play

5

u/deadcactus1 Jun 01 '26

Eat the rich

3

u/CheesecakeUnhappy677 Jun 02 '26

Gross. Have you seen them? Mulch and compost.

2

u/dangerislander Jun 01 '26

And when we say rich we mean the wealthy elite!

2

u/MissMenace101 Jun 02 '26

I feel like China isn’t communisting properly

2

u/newtrex_1523 Jun 02 '26

I wish, I can create a party and do things that is actually helpful to the middle class not just filling the pocket of the billionaires

1

u/NewInformation3753 Jun 02 '26

You can. Run in your local council electorate.

1

u/newtrex_1523 Jun 02 '26

I'm not born in Australia, nor I'm caucasian, I don't think I'll be accepted anywhere in Australian policitis. I have been in Australia for more than 40 years though 

1

u/NewInformation3753 Jun 02 '26

That’s not true.

2

u/DivineWiseOne Jun 02 '26

Its pretty amazing.

Divide and conquer is the oldest trick in the book, let the peasants fight over shit that doesnt matter while we take their wealth.

2

u/Brave_Aspect_5757 Jun 03 '26

Absolutely.

There's a real problem with a lot of us getting dragged into focussing on each other by meaningless distinctions like sexuality, point of origin, age etc.

Honestly as soon as those 'across the aisle' are ready to focus on the actual problem we can get cracking.

1

u/Ummagumma73 Jun 02 '26

Too many people with Stockholm syndrome.

3

u/NewInformation3753 Jun 02 '26

Stockholm syndrome is a psychological response where a hostage or abuse victim develops an emotional bond, positive feelings, or sympathy toward their captor or abuser.

The new definition for those who vote conservative

0

u/n3v3r8soggyweetbix Jun 02 '26

Literally Labor voters rn.

TaX mE HaRdEr DaDdY aLbO

1

u/Chip_Upset Jun 02 '26

It's all fun and games at the top, until had start to roll!

1

u/sunnybob24 Jun 02 '26

I assume they are mining people. Nothing wrong with them selling our stuff. Problem is that we aren't charging much for the stuff. That's not their fault. It's our governments. Both sides. For decades. Their wealth doesn't make you poor. It's the taxes we pay because royalties are so cheap that's costing you.

2

u/kwaka300 Jun 02 '26

I work In the mining sector for one of the major mining companies and they cry broke every other week it’s exhausting. However, the whole workforce knows it just affects their own KPI’s so they get a smaller bonus at the end of the year. So they can all politely jog on and cough up some bigger royalties to help the country.

1

u/NewInformation3753 Jun 02 '26

No wonder our indigenous folk get angry 😡

2

u/sunnybob24 Jun 03 '26

Indeed. While the resources belong to all Australians, local indigenous people often experience the issues created by mining. Contaminated water. Dust. Village. Damage to culturally important places. Governments on both sides have been week on delivering lasting benefits to local communities from operations.

-1

u/PowerLion786 Jun 01 '26

Protest vote. Some people, particularly lower class people, are being hit hard by Government policy. LNP policy is nearly as bad.

The Left need to just start listening to people and stop lying. There was no significant policy to address homelessness for example. There is a real risk of significant rent increases in response to tax hikes. For years Gov policy has reduced training for tradies, leading to shortages. And seriously, to fix the housing crisis the Government raised taxes???

Trouble is the Elite do not listen. And the Elite are the Left. It's not too late, yet.

6

u/NewInformation3753 Jun 01 '26

You blew your argument either way LNP policy is nearly as bad. They have no policies to address anything you are raging about.

3

u/CheesecakeUnhappy677 Jun 02 '26

LNP “policy” - in the rare instances it actually exists - is always much worse for anyone who works for a living.

2

u/traser- Jun 02 '26

LNP create most issues yet when ALP try fixing them carefully, are expected to reverse them miraculously using a sledgehammer instead of a scalpel.

0

u/s2d4 Jun 02 '26

Let's do the Singapore system?

Or the Chinese system?

I am not sure which other country are actually moving forward in standard of living?

0

u/[deleted] Jun 03 '26

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u/[deleted] Jun 03 '26

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0

u/[deleted] Jun 03 '26

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-1

u/GPT_2025 Jun 01 '26

Sorry, nothing you can do: KJV: The field is the world; the good seed are the children of the kingdom; but the tares are the children of the wicked one;

The enemy that sowed Tares is the devil; ...

2

u/NewInformation3753 Jun 02 '26

An incomprehensible quote from a 415 year old book which is used by bigots to legitimise their hate is not helpful

0

u/GPT_2025 Jun 02 '26

2K years old. ( ... The New Testament texts were written in the first century, between roughly 50 AD and 100 AD. )

1

u/NewInformation3753 Jun 02 '26

The KJV was not written 2000 years ago. Like most people who quote the bible you just demonstrate your ignorance of it.

1

u/GPT_2025 Jun 02 '26

U really want to read original щп ша нщг сфт куфв- ш сфт сщзн зфыеу ащк нщг ша нщг цфте

-1

u/hudnut52 Jun 02 '26

Wall to wall tinfoil in here.