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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 Pino P on Saturday January 27 2018, @04:53PM (2 children)

    by Pino P (4721) on Saturday January 27 2018, @04:53PM (#628950) Journal

    Whether a billion dollars of political speech comes from one person or a hundred million is irrelevant. Every citizen should be free to speak as widely and often as their means allow them to.

    I'm peachy keen with not allowing corporate coffers to be used in politics though. Corporations are not human beings and should not have human rights

    Whether a billion dollars of political speech comes from one corporation or ten million shareholders is irrelevant.

    or political representation. No taxation without representation is kind of a big thing in the US though

    Corporations have political representation through those shareholders who are eligible voters.

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  • (Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @06:09PM (1 child)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday January 27 2018, @06:09PM (#629010) Homepage Journal

    Every citizen with a 401k is a shareholder of something or other. Or do you only want to muzzle those who have reason to disagree with you?

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

    • (Score: 2) by Pino P on Sunday January 28 2018, @03:42AM

      by Pino P (4721) on Sunday January 28 2018, @03:42AM (#629314) Journal

      An investor with a 401(k) pension account exercises his free speech by investing in a corporation with whose ethics he agrees.