OUR OBSCENE WEALTH & FAT CATS

Australians all let us rejoice: We’ve come second on a worldwide list of fat cats.

Our richest one percent has doubled its share of national income since 1980.

Buried in an Oxfam report, which found just 85 people control the same amount of wealth as half the world’s population, is a graph showing Australia’s proud place.

graph

Of course, the winner is the home of the free, the United States, where billionaires increased their pot by around 140 per cent to $US110 trillion.

But it’s not due to our golden soil; rather, a tax system skewed to the rich.

The report found, since the late 1970s, tax rates for …

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