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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums85 richest people own as much as bottom half of population, report says
85 richest people own as much as bottom half of population, report says
By Jim Puzzanghera
January 20, 2014 http://www.latimes.com/business/money/la-fi-mo-oxfam-world-economic-forum-income-inequality-20140120,0,7080817.story
Those wealthy individuals are a small part of the richest 1% of the population, which combined owns about 46% of global wealth, according to the report from British humanitarian group Oxfam International. .................
The study found the richest 1% had $110 trillion in wealth -- 65 times the total wealth of the bottom half of the population.
That bottom half of the population owned about $1.7 trillion, or about 0.7% of the world's wealth. That's the same amount as owned by the 85 richest people, the report said.
The findings undermine democracy and make it more difficult to fight poverty ...................
daleanime
(17,796 posts)johnnyreb
(915 posts)We need to get it down to one man having all the money, and the rest of us sharing a penny. 'Cawz a po-er man never gave me a jawb!
Coyotl
(15,262 posts)johnnyreb
(915 posts)At least in the low-country. So I just remind 'em to donate to Bottlecaps for Billionaires.
MynameisBlarney
(2,979 posts)Re-calibrate it.
DirkGently
(12,151 posts)... use that diproportionate wealth to wield disproportionate power over everyone else, everything should be ... should be ... fine.
Um.
Jefferson23
(30,099 posts)rhett o rick
(55,981 posts)hrmjustin
(71,265 posts)rhett o rick
(55,981 posts)how would a capitalist answer the question, "is this the desired outcome? if not, what capitalism mechanism will turn this around?"
Logical
(22,457 posts)Making a lot of money.
Silent3
(15,256 posts)...the crushing burden of taxes and regulation! Lower taxes even more and get rid of those pesky regulations, and the rest of us will be able to break free and reach those same soaring heights!
frwrfpos
(517 posts)They want it all and will use propaganda and violence to take the last few crumbs from our mouths. They are sociopaths and vert dangerous to society.
Spitfire of ATJ
(32,723 posts)jtuck004
(15,882 posts)Coyotl
(15,262 posts)They'll have it all fixed voluntarily in a snap.
riderinthestorm
(23,272 posts)Douglas Carpenter
(20,226 posts)pampango
(24,692 posts)This dangerous trend can be reversed. The good news is that there are clear examples of success, both historical and current. The US and Europe in the three decades after World War II reduced inequality while growing prosperous. Latin America has significantly reduced inequality in the last decade through more progressive taxation, public services, social protection and decent work. Central to this progress has been popular politics that represent the majority, instead of being captured by a tiny minority. This has benefited all, both rich and poor.
The particular combination of policies required to reverse rising economic inequalities should be tailored to each national context. But developing and developed countries that have successfully reduced economic inequality provide some suggested starting points, notably:
Cracking down on financial secrecy and tax dodging;
Redistributive transfers; and strengthening of social protection schemes;
Investment in universal access to healthcare and education;
Progressive taxation;
Strengthening wage floors and worker rights;
Removing the barriers to equal rights and opportunities for women.
http://www.oxfam.org/sites/www.oxfam.org/files/bp-working-for-few-political-capture-economic-inequality-200114-en.pdf
The policy recommendations in the report center on progressive taxation, strengthening the safety net ("redistributive transfers", healthcare and education), stronger unions (worker rights and higher minimum wages) and removing barriers to women.
These are the same ideas we see all the time at DU. Shows how far ahead we are.
Incitatus
(5,317 posts)imthevicar
(811 posts)Nothing is done about this, And no One comes along to save the wealthy from themselves? Which is what FDR Did. When it becomes Very Messy, (and if nothing is done, and soon, history shows that it WILL.) When the SHTF, and The Elite walking to their fates, will look about and implore to all who have been under their boot for so long, Why are you doing this to me and my family? Trust me when I say their is a "Madame Therese Defarge", Taking notes someplace today in the US. and she will be in the position to do something about her Slight Perceived or not.
Don't shoot me I'm Just the Messenger!