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Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest
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brick tamland Offline

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Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest
"An economy for the 1%"

In 2015 62 individuals had the same amount of wealth as 3,6 billion people, the bottom half of humanity. Amazingly as recently as 2010 it was 388 individuals who held this much wealth.

This report published three days ago by Oxfam titled "an economy for the 1%" seems to not have received a lot of publicity in many places.
Wealth inequality is a subject that has interested me recently.

Here are some key points from the report:

>The wealth of the poorest half of the world's population has fallen by $1 trillion since 2010, a decline of 41%, whilst the wealth of the world's richest 62 people has increased by $500 billion and now stands at $1,76 trillion.

>Since 2015 the world's richest 1% of people are now wealthier than the rest of humanity.

>Tax havens and tax dodging underpin the increasing wealth inequality and the explosion of the wealth of the world's richest people. effectively there is a different set of rules for the richest.

>Oxfam calls for the abolition of the tax haven system saying it is impoverishing nations as rich people and multi-nationals do not pay their fair share to society.

>Tax dodging is rampant as 188 of 201 leading companies have a presence in at least one tax haven.

>$7,6 trillion of individuals' wealth is kept off-shore, depriving governments of about $190 billion per year in taxes.

>About 30% of Africa's financial wealth is held off-shore, depriving governments of $14 billion per year.

>Tax dodging by multi-national corporations deprives developing nations of about $100 billion per year.

>Despite growing inequality and the concentration of wealth, world leaders set a goal in 2015 to eliminate extreme poverty by the year 2030 (meaning within 15 years).

>The rate of return on capital earned by the richest is consistently much higher than the rate of overall economic growth.

>9 of the world's richest 62 people are female.

Full report:
(This post was last modified: 01-21-2016 06:57 AM by brick tamland.)
01-21-2016 06:54 AM
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Messages In This Thread
Global wealth inequality- 62 people are now as wealthy as world's 3,6 billion poorest - brick tamland - 01-21-2016 06:54 AM
RE: - zero1 - 01-21-2016, 07:33 PM
! - DjembaDjemba - 01-21-2016, 12:11 PM
RE: Global wealth inequality - poutsara - 01-21-2016, 11:24 PM

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