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posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
The 1% grabbed 82% of all wealth created in 2017
More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
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Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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(Score: 5, Insightful) by Tangaroa on Saturday January 27 2018, @03:24PM (2 children)
How about because the poor cannot afford it? To meet any given level of state spending, the money has to come from somewhere. Taking from people who need the money to put food on the table is going to cause more harm than taking from it someone who might buy a tenth Lexus.
The rich are more prone to hoarding, capital flight, and using financial tricks that cause damage to the economy. The middle class will at least buy Starbucks and Warriors tickets which puts the money back into the economy.
(Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @03:48PM (1 child)
Rewording an invalid reason is also not a valid reason. Neither is assuming a level of spending must be met; especially spending that is nothing but wealth redistribution to begin with.
My rights don't end where your fear begins.
(Score: 3, Touché) by Anonymous Coward on Saturday January 27 2018, @07:04PM
Assuming you get to exploit a system that causes massive suffering and hide behind "muh properties!" is not a valid excuse for running a pseudo-ponzi scheme.
You treat the issue like people want to steal everything you have, where reality is people want you to pay your fair share of the costs of running society. You can quibble all day about what are valid expenditures, etc. but you start from the assumption that taxes are theft. There is no salvation for such self-inflicted ignorance.