What is the definition of ‘rich’? Is it the ability to buy anything you might want or is it the ability to buy more than the next rich person and if so does that devalue that person? Poor Clive Palmer has been hit hard this last year, apart from the virtual abandonment of his party by its members, we think because no one can actually be sure, commodity prices have slumped which means he is off the top 50 Rich List as the cut off point is $694 million. For the average old age pensioners who get $644 a week per couple or $322 each, being rich is a somewhat illusive opportunity unless they spend 5% each week on lottery tickets. If you took the wealth of just the top ten in Australia and got 5% on their net wealth you would be able to fund 176,690 pensioners but we can’t tax any of these people because their money is in the Cayman Islands. But lets look at the 5% again, it equals almost $6billion a year just on bank interest(ish). If they all ‘Timeshared’ their wealth that could buy a jet, a mega yacht, a very nice car, a comfortable house, 12 double round the world first class tickets (but they wont need those they have they jets), a reasonable wardrobe, and a personal assistant every year! Now that brings a whole new meaning to the concept of disposable income. What is the point of this wealth I have to ask, it takes what, 20% of it just to look after it! When money gets to a level where it is almost un-spendable it has no meaning so why are they so frightened at being taxed it can’t possible affect their lifestyle? It can only mean power and influence. Well I would rather sit at the table of an interesting poor man than a boorish rich one, like our Mr Palmer so don’t ask, I won’t be there.
Such is life.
Until the next time this is Brodie Goozée