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Interesting discussion of wealth vs income inequality, and our perceptions of wealth inequality and how to tackle it. The Essential Report survey highlights the lack of awareness most of us have about the level of wealth inequality that exists, and also our confusion over what policies are best suited to dealing with it.

How does the "smashed avo" hook shape this discussion? Look at how statistics are used in this report to inform the debate and critique a narrow perspective. There's no doubt there are differences between the experiences and opportunities of young people compared to their parents. But when you enter the smashed avocado debate of baby boomers versus millennials, you overlook the inequality between members of the same generation. This also misses other ways inequality is perpetuated, such as through the intergenerational transfer of wealth. It's uncomfortable for many to admit but Australia is a hugely unequal society, both in terms of incomes and wealth. Australian households in the top 20% account for half of the income stream, that's about 12 times more than the bottom 20%. At the far ends of the distribution, the average weekly after tax income of the top 5% is 13 times that of the bottom 5%. But this isn't just an artefact of wealth in different generations. There are multiple ways we can glean this, most notably in relation to poverty.

Some great quotes in this piece! The language of politics warps our democracy again and again, as in this tax calculation. The media must unpack statistics Last week, the Institute for Fiscal Studies and the Health Foundation published a report on funding for health and social care. One figure from the report was repeated across the headlines. For the NHS to stay afloat, it would require "£2,000 in tax from every household". Shocking stuff!If you're sitting at a bar with a group of friends and Bill Gates walks in, the average wealth of everyone in the room makes you all millionaires. But if you try to buy the most expensive bottle of champagne in the place, your debit card will still be declined. The issue to be addressed, and one to which there is no fully correct answer, is how we can put numbers into a context that enables people to make informed choices. Big numbers are hard to conceptualise - most of us have no intuitive understanding of what £56bn even looks like.