Poverty: 5 signs that more Australians are living in poverty

Poverty: 5 signs that more Australians are living in poverty

Poverty: 5 signs that more Australians are living in poverty

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Here are just five signs that more Australians are living in poverty and dragging the economy down in 2016. There are more examples that we could all think of, but these are the main ones that more than 2.5 million Australians living in poverty talk about at the moment. It beggars belief that governments seem to want low economic growth and tax revenue. These could be improved if they addressed poverty.

Underemployment

It is not just increasing unemployment that is a problem in Australia. Rising underemployment is higher than ever because there are not enough work hours to go around.

Credit card debt

Credit card debt is increasing to record levels because bills are weighing people down more. Various media reports lately have highlighted this growing problem.

Tax refund rush hour

The ATO reported a rush on tax return lodgements in early July. This is probably because people are desperate for their refunds to pay bills and credit card debts.

To the wall

Some small businesses continue to close across the nation. They blame, among other reasons, high rents and customer feedback that they cannot afford what is on offer (e.g. op shops are doing well as small retailers selling overpriced clothes cannot compete with big stores).

Low returns

Investment returns are too low meaning that those lucky enough to have money saved are unable to live off some of the income. People are also seeing this with their Superannuation fund(s).

There are fundamental problems that need addressing. Otherwise it will appear even more to be a deliberate attack on small business and local workers who are losing work to immigrants and foreign students being exploited and ripped off. The Murdoch media in particular encourages people daily to get out there and waste money on things they cannot afford or even need. Governments constantly cut spending and increase taxes by stealth because they cannot manage money. A stone will not give up water no matter what you do. The public’s capacity to be robbed to give to the rich has been exhausted. Something needs to give or the Ponzi scheme will collapse big time!

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