Is Australia Living Beyond Its Means, as Claimed by the Country’s Richest Person Gina Rinehart?

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By Vittorio Hernandez | March 7, 2014 10:57 AM EST

REUTERS
A volunteer packs rice inside a Department of Social Welfare and Development warehouse before shipping them out to the devastated provinces hit by Typhoon Haiyan in Manila November 8, 2013. Typhoon Haiyan, the strongest typhoon in the world this year and possibly the most powerful ever to hit land battered the central Philippines on Friday, forcing millions of people to flee to safer ground, cutting power lines and blowing apart houses. Haiyan, a category-5 super typhoon, bore down on the northern tip of Cebu Province, a popular tourist destination with the country's second-largest city, after lashing the islands of Leyte and Samar with 275 kph (170 mph) wind gusts and 5-6 meter (15-19 ft) waves. REUTERS/Romeo Ranoco

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Gina Rinehart, Australia's richest person who just added another $700 million to her $17 billion wealth in the last 12 months, warned that Australia is living beyond its means.

She shared her opinion, which would likely create another controversy, in her column in the latest issue of Australian Resources and Investment.

She wrote, "Australians have to work hard or actually harder and smarter to create the revenue to be able to pay that bill. Something has to give, we can't do it all."

Ms Rinehart was referring to the country's welfare system and its recipients whom she is blaming for sending Australia further into debt.

Anticipating violent reactions to her observation, the mining mogul said, "I can already hear the left boiling with rage that I dare challenge their 'bottomless pit' and the belief that money doesn't have to be earned before it is spent mentality."

She anticipates more nasty twisted articles would be published in reaction to her statement.

Ms Rinehart criticised the Australian government for lack of clear planning operation on how to return to its former healthy financial state and pointed to deceased British Prime Minister Margaret Thatcher as an example for Aussie politicians to follow.

"What Thatcher did for Britain our own leaders should do for us - cut spending, cut waste, cut the shackles and back hard work," Ms Rinehart said.

A few months back, Ms Rinehart invited rage among Aussies by also criticising their alcohol and smoking habits as one reason why they remain poor.

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She likewise complained of costly operations for multinationals particularly the higher salaries of Australian workers, forcing them to hire African miners who are paid $2 a day.

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(Photo: REUTERS / )
A volunteer packs rice inside a Department of Social Welfare and Development warehouse before shipping them out to the devastated provinces hit by Typhoon Haiyan in Manila November 8, 2013. Typhoon Haiyan, the strongest typhoon in the world this year and possibly the most powerful ever to hit land battered the central Philippines on Friday, forcing millions of people to flee to safer ground, cutting power lines and blowing apart houses. Haiyan, a category-5 super typhoon, bore down on the northern tip of Cebu Province, a popular tourist destination with the country's second-largest city, after lashing the islands of Leyte and Samar with 275 kph (170 mph) wind gusts and 5-6 meter (15-19 ft) waves. REUTERS/Romeo Ranoco
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