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Being an everyday Aussie trying to get ahead just got 5x harder this week.
Cost of living is the highest it's ever been. Wages have barely moved relative to inflation over the past decade. Coles and Woolworths run a duopoly that sets the floor on what you pay for basic groceries and their CEOs are pulling in millions while families are genuinely choosing between the power bill and the weekly shop.
Insurance up 39%. Housing up over 400% since 1999. Most people are living paycheck to paycheck and the government's answer is a tax cut worth less than a coffee a day.
Now they've gutted negative gearing on established property and replaced the CGT discount: the two mechanisms that gave ordinary Australians a realistic path to building long-term wealth.
Their solution? "Just invest in new builds." As if that's an option when construction takes years, there's a national labour shortage in the trades, material costs are through the roof and council approvals move at the speed of a glacier. You can't redirect investor demand toward new supply that physically doesn't exist yet.
Meanwhile, bank CEOs are pulling $5 - 10M a year. Grocery executives are laughing to the quarterly earnings call and the average Australian is being told to tighten their belt while every wealth-building lever they had access to gets pulled away from them one by one.
At some point you have to stop and ask... who is the economy actually built for? Because right now it isn't built for the person working 40+ hours a week just trying to get ahead.