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Income and wealth inequality in Australia

The Australia Institute report by David Richards and Richard Denniss, 8 July 2014.  Policy Onine writes:  ‘The nature and extent of inequality in Australia is the choice of policy makers who have the capacity to either reduce inequality or to exacerbate it.  Tackling inequality is a political choice, not an economic problem according to this paper.’ From the abstract:  ‘While income distribution is unequal, the distribution of wealth is even more so.  The top 20 per cent of people have five times more income than the bottom 20 per cent, and hold 71 times more wealth.  Perhaps the gap between those with the most and those with the least is most starkly highlighted by the fact that the richest seven individuals in Australia hold more wealth than 1.73 million households in the bottom 20 per cent.’

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