Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The world’s 85 wealthiest people have as much money as the 3.5 billion poorest people on the planet – half the Earth’s population. That’s according to Oxfam’s latest report on the risks of the widening gap between the super-rich and the poor.
The report, titled “Working for the Few,” was released Monday, and was compiled by Oxfam – an international organization looking for solutions against poverty and injustice.
The document focuses on the extent of global economic inequality caused by rapidly increasing wealth of the richest people that poses the threat to the “human progress.”
A total of 210 people became billionaires last year, joining the existing 1,426 billionaires with a combined net worth of $5.4 trillion.
"Instead of moving forward together, people are increasingly separated by economic and political power, inevitably heightening social tensions and increasing the risk of societal breakdown," the report stated.
Also, according to the Oxfam data, the richest 1 percent of people across the globe have $110 trillion, or 65 times the total wealth of the bottom half of the planet’s population – which effectively “presents significant threat to inclusive political and economic systems.”
“It is staggering that, in the 21st century, half of the world’s population — that’s three and a half billion people — own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus,” Oxfam chief executive Winnie Byanyima told a news conference.
And the number of the rich is steadily growing: for example, in India the number of billionaires skyrocketed from six to 61 in the past 10 years, and their combined net worth is currently $250 billion.
The report comes ahead of the World Economic Forum in Davos which begins later this week, and urges the world leaders to discuss how to tackle this pressing issue.
Among the solutions presented by Oxfam are measures to avoid tax dodging and using economic wealth to pressure governments, looking for political benefits. Also, the organization calls for “making public all the investments in companies and trusts for which they are the ultimate beneficial owners,” as well as “challenging governments to use tax revenue to provide universal healthcare, education and social protection for citizens.”
Oxfam also said that there are many laws that favor the rich, which were lobbied for in a “power grab” by the world’s wealthiest people.
Since the late 1970s, tax rates for the richest have fallen in 29 out of 30 countries for which data are available, according to Oxfam.
"A survey in six countries (the US, UK, Spain, Brazil, India and South Africa) showed that a majority of people believe that laws are skewed in favor of the rich," the report said.
For instance, almost 80 percent of the Spanish and the Indians, as well as over 60 per cent of the US and the UK residents, either agree or strongly agree that “the rich have too much influence over where this country is headed.” http://rt.com/news/wealthy-rich-85-billion-879/
Not to get all preachy, but 'what good is it for a man to gain the world and lose his soul?' haha but yeah, i suppose that's little comfort for something struggle to survive is it?
Yeah something is definitely wrong with this picture.
So, what are you going to do to force rich people to share their wealth? Steal their money?
Hmm...
Look closely if they're paying fair share of taxes,if they're not playing tricks,have offshore accounts,if the politicians are not getting corrupt by their money.If they're not doing anything illegal with that money or profiting from illegal activities (money laundering,drugs trafic,tax evasion).
If they're not re-investing some of their fortune back in the country that made them billionaires.
Look closely if they're paying fair share of taxes,if they're not playing tricks,have offshore accounts,if the politicians are not getting corrupt by their money.If they're not doing anything illegal with that money or profiting from illegal activities (money laundering,drugs trafic,tax evasion).
If they're not re-investing some of their fortune back in the country that made them billionaires.
Until they withdraw that wealth for their personal use via taxable wages, salaries or dividends, etc, it doesn't actually belong to them, but to the enterprise they created (or possibly inherited). In the latter case, it was taxed and partially confiscated when it was handed down, whether in the form of stock or physical assets. And in either case, it's not their lawful property, but that of a continuing enterprise -- which is likely creating additional wealth, and which will likely wind up more and more in the hands of a philanthropy, which serves all, as each generation passes from the scene.
But I'm sure the rule of law doesn't hold much weight with those who believe that the end justifies the means. That's why Half-baked Harold Wilson's unionist thug allies pushed the concept of "imputed value", and paralyzed Great Britain for years.
No offense but most of these people are probably give more to charity in one year than you'll make in a lifetime.
These billionaires got to where they did today because of hard work and their sacrifices. They sacrificed a lot for what they have, and they deserve it. If it was given to them, they have every right to it because their forefathers sacrificed what they had to get there for their family.
Sharing wealth, or forcing someone to give money to someone else is unfair. It is not unfair that this poor person decided to have a kid at a young age, start smoking pot or doing crack when they were in their 20s. It's not anyone's fault that this old retired couple didn't save enough money because they wanted an RV.
I don't find this article sickening, I find it inspiring.
Look closely if they're paying fair share of taxes,if they're not playing tricks,have offshore accounts,if the politicians are not getting corrupt by their money.If they're not doing anything illegal with that money or profiting from illegal activities (money laundering,drugs trafic,tax evasion).
If they're not re-investing some of their fortune back in the country that made them billionaires.
Well, that's precisely a list of what most of them are doing, but add to that ACCUMULATING THEIR WEALTH ON THE BACKS OF WORKERS THEY ARE EXPLOITING. The Walton family paying Walmart clerks so little they qualify for government assistance. The Koch Brothers purposefully devising ways to keep people from getting proper health care. Companies having their products manufactured in counties where they are legally permitted to run what are nothing but sweatshops. Corporations manipulating the political system so they get subsidies from American taxpayers while they are posting record-breaking corporate profits. The rich financing state-level campaigns to strip poor people of their voting rights. The concerted effort to destroy public education as we have known it in America for generations. The continuing campaigns to privatize things that governments have been doing cheaper and better by flooding the media with disinformation about the current set-ups.
Don't expect to not have any sort of inequality in a world with 7 billion people.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. I like billionaires that are donating much of their fortune.
