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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: 3, Insightful) by The Mighty Buzzard on Saturday January 27 2018, @05:09PM (1 child)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday January 27 2018, @05:09PM (#628959) Homepage Journal

    I have no problem with you redistributing a portion of your wealth if you so choose. I do to some degree myself. What I have a problem with is you demanding others do the same under threat of imprisonment or death.

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    My rights don't end where your fear begins.
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  • (Score: 2) by Gaaark on Saturday January 27 2018, @08:29PM

    by Gaaark (41) on Saturday January 27 2018, @08:29PM (#629120) Journal

    Whereas, i look at it as, if they have the money to bribe politicians to make laws favour the rich, they have money to pay more in taxes.

    Individuals bribing: they pay more (and go to jail, lol).
    Corporations bribing: it pays more. Way more.

    It's the money in politics that, IMHO, has begun the real spiral down (as well as CEO's getting salary/stock options/benefits WAAAY beyond their worth, but as you say, that is a hiring problem). Take the big money out, make the politicians speak to EVERY individual for money (not just big corp) and you will get a politician more interested in making the country a place for "We the people" instead of just "We the rich".

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    --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---