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Global wealth inequality widened last year as billionaires increased their fortunes by $2.5 billion per day, anti-poverty campaigner Oxfam said in a new report.
While the poorest half of humanity saw their wealth dwindle by 11%, billionaires' riches increased by 12%. The mega-wealthy have also become a more concentrated bunch. Last year, the top 26 wealthiest people owned $1.4 trillion, or as much as the 3.8 billion poorest people. The year before, it was the top 43 people.
[...] To address many of these ills, Oxfam advocated raising taxes. It estimated that a 1% wealth tax would be enough to educate 262 million out of school children and to save 3.3 million lives. As of 2015 returns, Oxfam says that only four cents in every tax dollar collected globally came from tariffs on wealth, such as inheritance or property. The report also claims that the rich are hiding $7.6 trillion in offshore accounts
Previously: Only 1% of World's Population Grabbed 82% of all 2017 Wealth
(Score: 2, Insightful) by Sulla on Tuesday January 22 2019, @07:49PM
Define rich, and when will that definition shift to you? I mean yeah sure we can get rid of all the billionaires. But then those people with 100+ million need to be dealt with. Then of course we need to punish those with 10s of millions. Why is that jackass at the end of the street with a million dollar savings skirting by? That guy "owns" a duplex worth 400k he is renting out half of for 1k/month, that practically theft. How dare anybody earn more than 100k a year? Anyone making more than the 35k/year 1% of the planet need to be dealt with too.
Ceterum censeo Sinae esse delendam