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posted by takyon on Tuesday January 22 2019, @10:32AM   Printer-friendly
from the self-made-trillionaire dept.

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


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  • (Score: 0) by Anonymous Coward on Tuesday January 22 2019, @10:28PM (1 child)

    by Anonymous Coward on Tuesday January 22 2019, @10:28PM (#790329)

    You underestimate the power of the baking cabal. Forgot the trillions given away as a reward for crashing markets in 2008 already?

  • (Score: 1) by khallow on Wednesday January 23 2019, @04:13AM

    by khallow (3766) Subscriber Badge on Wednesday January 23 2019, @04:13AM (#790455) Journal
    To be fair 2008 was a long time ago, at least a couple of years maybe three. Who remembers that far back?