Labor and Swann have delivered their first budget, and the hyperbole and hysteria of the far right is in full swing. The way they are acting, you would expect to have woken up yesterday morning to a post apocalyptic waste land the likes of Resident Evil: Extinction. Several interesting things came up in this process, and at least one has been proven right over and over.
The EQ Study
A bunch of smart scientists took it upon themselves to do an emotional intelligence study on the high IQ students of 15 years ago. They discovered that 9 out of 10 of these ex-students were either on the dole or in low income menial work. This is because on the EQ level, these people were introverted, shy and in this day and age of everything being a mini popularity contest, none of these people of superior intelligent could out flashify their dunce, but cool, school mates.
So much for needing to be smarter and more intelligent to get better paying jobs. Apparenly all you need is to be outgoing and arrogant.
The segue..
This brings us to why I mentioned this first. The misnomer that low income earners are apparently too stupid to get a better job. Sadly, this is not true. Its just because we are modest. The intelligence of high income earners has managed to be proved ten fold after this budget. None of them seem to understand either what it means, or what they are even saying. Lets start the comparison.
Low Income Earner
If lucky, buys modest house with small mortgage on the trainline in an outlying area - if not so lucky, are paying rent, but a modest amount on a house that is just what they need, not what society dictates they have.
Drive a second hand car they either saved up to buy outright from a road side seller or have a small mortgage for a car that suits their needs.
Shops at various stores for the best deals on their groceries.
Have a cheap pre-paid mobile.
Have waiting lists for medical and dental.
Are still using that 54 cm CRT they saved up to buy 15 years ago.
High Income Earners
Buys a 400K mcmansion near the CBD.
Mercedes, BMW, Lexus or Audi.
Do all their shopping in the one spot for 'convenience' - wouldnt buy home brand even if it were the last bag of peas in the freezer.
Mobile with fries and coke.
Private health
Large screen 'plasma'
The conclusion....
If High income earners are finding it hard to make ends meet, then quite simply, they are living beyond their means and doing their level best to help drive up inflation while they are at it. I personally have a family of 7 and a yearly annual income of up to $50,000 net.
Yet we have a home - on a quarter acre block, enough rooms, a double garage, entertainment area, on the trainline in commuting distance to Sydney - should know, we've done the commuting. No - its not public housing.
We have enough food for every day. We shop fortnightly, and have 3 squares a day, kids have school lunches and there is always fruit and biscuits for extras.
We have a 7 seater car - which we paid off the mortgage on with that income.
We have clothes. Our bills get paid - but my combined internet, phone and electricity bill is less than $200 a month.
If I can raise 5 perfectly healthy children and have everything we need, plus a little left each week for us on just $50k p/a, why are families with less children and more income having problems doing the same?
Thats easy to answer now. Just look at where all the smart people are.
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