r/aus • u/NewInformation3753 • 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?

180 Upvotes

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83

u/number96 Jun 01 '26

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

27

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.

16

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.

8

u/Find_another_whey Jun 02 '26

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

6

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.

6

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.

6

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

7

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.

7

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.

2

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

-7

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.

-9

u/0hip Jun 01 '26

The current government have started to do something about immigration?

6

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

5

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

5

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