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Donald Trump and Angela Merkel will join 2,500 world leaders, business executives and charity bosses at the World Economic Forum (WEF) in Davos, Switzerland which kicks off on 23 January. High on the agenda once again will be the topic of inequality, and how to reduce the widening gap between the rich and the rest around the world.
The WEF recently warned that the global economy is at risk of another crisis, and that automation and digitalisation are likely to suppress employment and wages for most while boosting wealth at the very top.
But what ideas should the great and good gathered in the Swiss Alps be putting into action? We'd like to know what single step you think governments should prioritise in order to best address the problem of rising inequality. Below we've outlined seven proposals that are most often championed as necessary to tackle the issue – but which of them is most important to you?
- Provide free and high quality education
- Raise the minimum wage
- Raise taxes on the rich
- Fight corruption
- Provide more social protection for the poor
- Stop the influence of the rich on politicians
- Provide jobs for the unemployed
Do you think these ideas are enough, or are there any better ideas to close this wealth gap ? You too can participate and vote for the idea that, you think, works best.
(Score: 1) by tftp on Sunday January 21 2018, @12:35AM (2 children)
That journalist erected a strawman. Of course a businessman will not become a worker - as if that is his only choice. The businessman will move his business elsewhere! Or he would never open a business, as he can live well with his capitals in the bank or invested overseas.
(Score: 0) by Anonymous Coward on Sunday January 21 2018, @08:48AM
If his business was profitable, then there was a demand for whatever that business supplied. That demand can then be filled by another businessman, who values making money more than throwing idealogical hissy-fits about taxes.
(Score: 2) by splodus on Monday January 22 2018, @06:14PM
This particular guy - he is a 'self-made man' - it was himself, not a journalist, making the comment. I think he has a fleet of plumbers working in London (could be Pimlico Plumbers? can't remember...). He's something of a 'colourful character'; a dandy in a rolls-royce...
So it wasn't a straw-man, on this occasion. He was supporting a cut in taxation for those taking £250k+ (the tax-cut was passed, actually)
He can't 'move his business' cos it's based in London, on the ground, where his customers are. He could probably move his 'company' overseas, for tax reasons - that's part of the issue!
And yeah, he can live off his capital, but you can be sure he would sell his company before doing so; cash-in. In which case the question just moves on to the new owner of the business. It's not really an argument is it?
His argument seemed to be 'I create jobs! Why should I pay more tax? I won't create jobs if I have to pay more tax than my workers!'
And my argument is 'If you take take home £900k per year, when your employees take home £30k per year - is it really the case that you'll put them all out of work if you'd only get £800k per year after an increase in tax on the wealthy?'