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World's Top 26 Billionaires Now Own as Much as the Poorest 3.8 Billion

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

Arthur T Knackerbracket has found the following story:

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: 2) by aristarchus on Wednesday January 23 2019, @07:00AM (2 children)

    by aristarchus (2645) on Wednesday January 23 2019, @07:00AM (#790490) Journal

    Guilt by association: You fucking racist, khallow! Did you repudiate Ethanol_filleted? No? Racist. Did you renounce VLM's call to round up and exterminate all left-handed Americans? No? Racist! And did you stick a red-hot poker up jmorris's ass, for saying all the bigoted and racist things he has said, including suggesting that some races are more racier than others? No? You are a racist, khallow. Racist by association, Racist by ommission, Racist by lack of repudiation of racism! And if I did not personally know that you are African-American, I might think you are racist by white privilege. So, there, you racist bastard.

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  • (Score: 1) by khallow on Wednesday January 23 2019, @07:39AM (1 child)

    by khallow (3766) Subscriber Badge on Wednesday January 23 2019, @07:39AM (#790508) Journal
    Thank you. That was pretty definitive. But in my defense, I'll have to say that I still don't give a shit. My view on this? Tolerate the intolerance. Don't tolerate the endless string of felonies.