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Only 1% of World's Population Grabbed 82% of all 2017 Wealth

posted by martyb on Saturday January 27 2018, @12:43PM   Printer-friendly
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.

canopic jug writes:

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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  • (Score: 2) by Whoever on Saturday January 27 2018, @03:51PM (1 child)

    by Whoever (4524) on Saturday January 27 2018, @03:51PM (#628901) Journal

    Because those people benefit disproportionally from government spending.

    And, yes, "because they can afford it" is a valid reason.

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  • (Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @04:07PM

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday January 27 2018, @04:07PM (#628916) Homepage Journal

    Because those people benefit disproportionally from government spending.

    False. Having your needs for survival met via society is a far greater benefit than having your non-survival desires met. That aside, once you have paid whatever is asked of you for let's say using the roads, you owe neither moral nor financial debt in using said roads. When you pay the price for something, all debt ceases to exist.

    And, yes, "because they can afford it" is a valid reason.

    Saying it in caps does not make it so. It especially does not make it selectively so. Unless you believe your poorer neighbor would be justified in coming to your house, pointing a gun at your head, and saying "You're paying my rent this month because you can afford it better than I can".

    --
    My rights don't end where your fear begins.