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Inequalities - Coggle Diagram
Inequalities
Rich
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"wealthy being able to get around paying tax makes Australia inequitable" -senior economist Matt Grudnoff
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Education
if children are less successful in school, less likely to be skilled in the workforce.
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If schools are segregated, children from socioeconomically disadvantaged households will mix with other disadvantaged children, and thus with children who do not perform well at school.
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INCOME
investment income
Income from investments, such as interest, rent, dividends, royalties and superannuation represents a small part of total income, but is highly concentrated in high-income households
The greater disparity in investment incomes (compared with earnings) is a by-product of the highly unequal distribution of wealth in Australia.
Wages
The highest 20% income group receives almost three times the average wages of the middle 20% income group
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Employment Status
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In the middle 20% income group, the rate of paid employment is higher, with 68% of adult household members employed, and 42% of these workers in full-time jobs
The highest 20% income group is relatively ‘work rich’, with 87% of adults in these households in paid work, with 67% of them in full-time jobs.
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Stage 3 tax cuts
alternatives those earning less than $45,000 — who will receive no tax cuts under the current Stage 3 — will all be better off.
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