The Haves and Have-Nots

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[This news report from the ABC](http://www.abc.net.au/news/newsitems/200703/s1871154.htm) illustrates much of what is wrong with the society that Prime Minister Howard has created in his ten years of government.

Younger people are struggling to keep up financially, while those of the older generation (more typically Howard supporters) are doing just fine, thank you very much.

This has the potential to create a massive financial crisis in this country. If wealth isn’t equitably distributed we run the risk of creating a massive underclass of people that can’t afford to buy a home, can’t afford to save money, and live on credit and loans. That will benefit the banks and other credit providers (and of course their shareholders) and will also benefit people who own multiple properties and rent them out (whilst at the same time claiming tax benefits through negative gearing – a distortive tax system that should be scrapped, in my opinion). Of course, the shareholders and landlords are more likely to be the older generation, who have the cash to invest. So they make more money off the younger generation. The rich get richer…

So for all the talk of the economic boom that is occurring in Australia, and particularly Western Australia, it is crucial that we keep in mind that the boom is not being applied equitable. Many people continue to struggle. The last thing we need is for them to also give up hope of things ever improving. What this country needs is an economic framework and a vision for the future that offers hope to the next generation.

  • Benjamin Graham

    Ok I’ll bite…actually what that report demonstrates is what is wrong with the Gore Hill branch of the Communist Party oops I mean the ABC. Read the Sensis report, even just the first page (p5): ‘..a net balance of 55 per cent of Australians reporting confidence in their financial prospects from a year ahead’. What a surpise that the gAyBC puts an out-of-context leftist slant.

    There were some intersting findings ‘Those up to age 19 years were more likely than any other age group to be concerned about the price of petrol’! Wow! That’s like finding ’15 year old boys were more worried than any other age group that they would die before they lost their virginity’. But I digress…

    Young people almost always struggle to keep up financially, unless they come from a wealthy family. This is virtually by definition because wealth is create over time something which young people haven’t obviously experienced as much of as older people.

    OK another angle…a capitalist demoncracy by definition only works if there are relative variances in wealth distribution…even Jesus saw this. What you are talking about is needing the equal opportunity to create wealth. My experience is that there is no other country in the world that provides a better range of opportunities to create wealth for someone who is wants it. And there is no other country in the world that better cares after the disadvantaged, if they want to be looked after.

    So blame Howard if you want. But I remember being 17 years old and unemployed when Bob was in charge and unemployment went up and up to 12% and I couldn’ get a job for 6 months despite three interviews a week (and even daily showers didn’t help). Now, all I see is businesses begging for workers (it’s the only thing holding back the growth of our business) and anybody who wants to earn a living, can.

    Or you could blame Paul now that he’s retreated from the cut and thrust into his world of pithy sound-bites. After all, he deregulated the financial services industries and introduced those super funds (through which you are the shareholders in the rapacious banks).

    The one thing not dependant on age or economic status though is – intellectual rigour independant of political bias. Embrace it, it makes a much more compelling and persuasive rhetoric.

    There, I feel better now!

    Shalom!

  • Patrick

    Well I tried to get everyone all het up……:-)

  • Jennifer

    You are just too transparent these days.I thought it was you. The fish aren’t biting anywhere!

  • Patrick

    Well I shoulda known my Mom would’ve spotted the words of her favourite son! (now if that doesn’t get a bite, nothing will!)

  • Mary (Mum)

    Hey Patrick – isn’t it a relief to know that you are SOMEONE’S favourite!! INtellectual rigour indeed!

  • MagWag

    I’d rather listen to Keating’s factually-based (ooh, the truth does hurt!) “sound-bites” than Howard’s stinkin’ lies anyday!