Written By: - Date published: 9:42 am, June 29th, 2016 - 56 comments
Categories: accountability, capitalism, class war, john key, national, poverty - Tags: brighter future, child poverty, inequality, suck up, Te Puea Marae, tory charity, trickle down
We used to be told that wealth would “trickle down” from the top to those on the bottom. Hah hah! Wealth sucks-up instead:
NZ’s rich getting richer, new figures show
The richest Kiwis are getting richer, and the growing inequality across the world has led to the rise of Donald Trump and the Brexit vote, Labour says.
New Statistics New Zealand data shows the richest 10 percent have hoarded more than half the country’s wealth, with the bottom 40 percent scraping by with only 3 percent.
And the gap between rich and poor has widened in the past decade. …
Widened despite some slight closure of the gap when Labour introduced working for families. The headline figure:
NZ’s top 10 per cent hold more than half of the wealth
Wealth distribution in New Zealand is at its most uneven in more than a decade. Statistics New Zealand shows the top 10 per cent of people have almost 60 per cent of wealth. The figures are for the year to June last year.
Labour market and household statistics manager Diane Ramsay said it was the biggest divide between the rich and poor since 2003.
Labour’s finance spokesman Grant Robertson said inequality was getting worse under National.
“Reducing inequality should be the number one priority of this Government. It is taking away opportunity and undermining the economic and social security of our country.
“The ramifications of inequality have become clear in recent days in the Brexit vote and also in the way the US presidential primaries have played out. One of the consequences of inequality is that it creates a large group of disenfranchised people who feel forgotten and alienated. They then become easy targets for peddlers of fear and hate.”
Mr Robertson said New Zealand’s inequality was worse than in the UK, Australia and Canada. Here, the net worth of the bottom 20 per cent was less than a quarter of the net worth of the top 20 per cent. …
So how does our National government respond to this news?
The Government is dismissing claims the rich are taking an increasing share of New Zealand’s wealth, saying there is “nothing out of the ordinary” with the existing gap.
Actually, there is something “out of the ordinary” about it. We have a housing affordability crisis, a record level of homelessness, working families sleeping in cars, foodbank use at record levels, families living in unhealthy and decaying state houses, the rise of so-called “third world” diseases, and so on, and so on. That cannot be allowed to be “ordinary” New Zealand. Fuck right off.
As the rich get richer, PM says wealthy are helping the less well off
New Zealanders at the bottom get plenty of help from those at the top, says Prime Minister John Key as the latest statistics on wealth show the rich are getting richer. …
While there are no doubt some wealthy individuals who are doing a lot to help – bravo and good on them for doing so – there aren’t enough of them, and as a class the wealthy are characterised by massive levels of tax avoidance and evasion. Taking care of the poor is the responsibility of all of us, of the state, it cannot be left to individual acts of charity. Quite apart from which, those that seem to be visibly helping the most at the moment are not the rich at all, case in point, Te Puea Marae (you can donate here).
In short, Key’s response is pathetic. We need to vote to end suck-up economics. We need to be a better country than this.