The 1% grabbed 82% of all wealth created in 2017

ANC

Well-Known Member
http://money.cnn.com/2018/01/21/news/economy/davos-oxfam-inequality-wealth/index.html

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.

The head of the advocacy group argued that the people who "make our clothes, assemble our phones and grow our food" are being exploited in order to enrich corporations and the super wealthy.

The study, released ahead of the World Economic Forum in Davos, was produced using data from Credit Suisse's (CS) Global Wealth Databook.

Related: 5 ways the world is pulling apart

The report also highlights the detrimental effects of gender inequality with data that show more men own land, shares and other capital assets than women.

Rising inequality has been a major topic at Davos for years.

Oxfam said Monday that it is time for the global elite to stop talking about inequality and start changing their ways.

"It's hard to find a political or business leader who doesn't say they are worried about inequality. It's even harder to find one who is doing something about it," said Byanyima.

"Many are actively making things worse by slashing taxes and scrapping labor rights," she added.

Related: Thought 2017 was bad? 2018 could be much worse

Oxfam said that governments should focus on policies that would lead to fairer distribution of wealth and stronger workers' rights.

These could include introducing a living wage, supporting labor unions and tackling gender discrimination.

Governments also need to tackle tax avoidance and put limits on shareholder returns and executive pay, Oxfam said. The group argues companies should not issue dividends to shareholders unless they pay their workers a living wage.

Oxfam also said that tax policies should be used to reduce extreme wealth.



CNNMoney (London)First published January 21, 2018: 7:04 PM ET
 

Jimdamick

Well-Known Member
Oxfam also said that tax policies should be used to reduce extreme wealth.
Not in this fucked up country.
THEY just voted in a tax policy GUARANTEED to create more inequality in the USA
But, but, but, the corporations and the already insanely wealthy are going to share the spoils of their war on taxes, right?
And pass down their bonanza to the less fortunate, and pay them better and improve their existence, right?
Like history has taught us that is what happens, when the already rich get richer, right, they just share their wealth, and they all become like fucking Santa Claus, right?
I mean that's what the Trump administration, the GOP and Walmart tell us, so it must be true, right?
So then, the time is right for an increase in the national minimum fucking wage, and people won't have to work two or three jobs to fucking exist (lazy bastards), right?
The Americans are fucking fools, and deserve everything they fucking get, which is nothing for the average citizen, but just more hardship and pain.
So just keep voting Republican, they'll take care of everything (for themselves), you dumb fucks.
Peace out
 

chiqifella

Well-Known Member
Say what you will. Call it what you want. Something has to change. Or these streets will eventually be filled with blood.
maybe, but thing is folks been saying that for decades, while it gets worse, while no change is effected, and our blood runs on foreign streets.
 

chiqifella

Well-Known Member
They always had the larger share but the gluttony of the 1% over the past 40 years is unprecedented. It all started with Reagan's trickle down tax cuts.
I believe he also was the first president that pimped the big producers(the ones that own us) with advertising before he was elected?
after too? AIG was in his ear when he was elected, on tape even barking orders to the new pres.
I think it started with Reagan and never ended. welcome to the united corpocracy of america, thanks ronnie ray gun
 

Jimdamick

Well-Known Member
It all started with Reagan's trickle down tax cuts.
That brillant load of shit that they tried 40 years ago, and that now we are doing again, that is fucking GUARANTEED to increase the national debt by over one trillion dollars.
That ingenious tax cut, that did shit all for the average worker to increase their disposable income?
Well, we might as well try again. (LMFAO)
 

Fogdog

Well-Known Member
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Fogdog

Well-Known Member
That brillant load of shit that they tried 40 years ago, and that now we are doing again, that is fucking GUARANTEED to increase the national debt by over one trillion dollars.
That ingenious tax cut, that did shit all for the average worker to increase their disposable income?
Well, we might as well try again. (LMFAO)
Three times now they've done it. Reagan, Shrub and Trump. Each time the cuts were unfunded and ballooned the national debt. Each time Republicans used an expansion of the deficit caused by their tax cuts to justify cuts in social services that were meaningless in terms of the deficit. Now they are going after Medicaid, Medicare, Social Security, SNAP, subsidized health care for the poor. Trump and his class are vampire squids on the face of the US.
 
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