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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums26 Billionaires Own The Same Wealth As The Poorest 3.8 Billion People
The gap between rich and poor is fracturing society, poisoning politics and fueling public anger, according to a new report from anti-poverty nonprofit Oxfam, which found that last year just 26 people owned the same amount of wealth as the poorest 3.8 billion people. This figure is down from 43 the year before.
The Public Good or Private Wealth? report, published Sunday, found that the wealth of billionaires has increased by $900 billion in the last year, or $2.5 billion a day. This bonanza has not been felt by the poorest half of the world, which saw its wealth decline by 11 percent.
Since the 2008 financial crisis, the number of billionaires has doubled, according to the report, and the very rich along with corporations are paying lower taxes than they have in decades. At the same time, 3.4 billion people are living in poverty on less than $5.50 a day, and women are often hardest hit. Men hold 50 percent more of the worlds wealth than women, according to the report.
The economy we have today is fundamentally inhuman, Paul OBrien, Oxfam Americas vice president for policy and campaigns, told HuffPost. He said he was disappointed but not surprised by the reports findings. Youre not going to get a decrease in extreme wealth until you have leadership committed to tackling its root causes, and right now we dont.
https://www.huffingtonpost.com/entry/oxfam-report-wealth-inequality-poverty-tax_us_5c408586e4b027c3bbbeb91d
guillaumeb
(42,641 posts)And they generally do not want to pay any taxes.
California_Republic
(1,826 posts)Oh yeah Ive seen this movie,I dont want to spoil it for you but it ends in Revolution
EndGOPPropaganda
(1,117 posts)Oxfam report used the Forbes list.
Here it is. I've bolded the Americans who are known rightwing donors behind the GOP.
#1 Jeff Bezos $112 B 55 Amazon United States
#2 Bill Gates $90 B 63 Microsoft United States
#3 Warren Buffett $84 B 88 Berkshire Hathaway United States
#4 Bernard Arnault $72 B 69 LVMH France
#5 Mark Zuckerberg $71 B 34 Facebook United States
#6 Amancio Ortega $70 B 82 Zara Spain
#7 Carlos Slim Helu $67.1 B 78 telecom Mexico
#8 Charles Koch $60 B 83 Koch Industries United States
#8 David Koch $60 B 78 Koch Industries United States
#10 Larry Ellison $58.5 B 74 software United States
#11 Michael Bloomberg $50 B 76 Bloomberg LP United States
#12 Larry Page $48.8 B 45 Google United States
#13 Sergey Brin $47.5 B 45 Google United States
#14 Jim Walton $46.4 B 70 Walmart United States
#15 S. Robson Walton $46.2 B 74 Walmart United States
#16 Alice Walton $46 B 69 Walmart United States
#17 Ma Huateng $45.3 B 47 internet media China
#18 Francoise Bettencourt Meyers $42.2 B 65 L'Oreal France
#19 Mukesh Ambani $40.1 B 61 petrochemicals, oil & gas India
#20 Jack Ma $39 B 54 e-commerce China
#21 Sheldon Adelson $38.5 B 85 casinos United States
#22 Steve Ballmer $38.4 B 62 Microsoft United States
#23 Li Ka-shing $34.9 B 90 diversified Hong Kong
#24 Hui Ka Yan $30.3 B 60 real estate China
#24 Lee Shau Kee $30.3 B 90 real estate Hong Kong
#26 Wang Jianlin $30 B 64 real estate China
Hoyt
(54,770 posts)what would we have $275 per person. Of course, that assumes that the $900 B increase in wealth didn't vaporize the minute it is taken, which much of it would because it's only paper wealth.
Point is, there needs to be a comprehensive program that includes higher progressive taxes, appropriate distribution, increased welfare programs, education, government/business partnerships to expand the pie, healthcare, less war, etc. I don't see that happening anytime soon.