Richest one percent made 82% of wealth created last year: Oxfam

Looks like the wealth divide is getting worse, again.

The world's richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world's elite prepared to mingle at the World Economic Forum in Davos.
A new report from the charity also found that the wealth of billionaires has grown six times faster than that of ordinary workers since 2010, with another billionaire minted every two days between March 2016 and March 2017.

www.afp.com...

Poverty pay-means that the wealthy are amassing ever greater wealth. Of course the story beings up where clothes are made and phones point to the swelling profits going to corps and billionaire investors.

Oxfam used its findings to paint a picture of a global economy in which the wealthy few amass ever-greater fortunes while hundreds of millions of people are "struggling to survive on poverty pay".
The people who make our clothes, assemble our phones and grow our food are being exploited to ensure a steady supply of cheap goods, and swell the profits of corporations and billionaire investors,"said Byanyima.

The solution Oxfam calls for limiting returns to shareholders and top executives among other things.

To fight rising inequality, Oxfam called on governments to limit the returns of shareholders and top executives, close the gender pay gap, crackdown on tax avoidance and increase spending on healthcare and education

And for your viewing pleasure an odd and kinda sick out look from one of the shark tank guys ( Kevin O'Leary). He think the wealth gap is fantastic.


Solutions?


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a reply to: seasonal

Solutions?

How about they pay 82% of the taxes?

a reply to: seasonal

It's a tough answer, but not impossible. Beat 'them' at their game on your own terms. Buy less, spend less. Own, not rent/finance. I realize this is tough for some and even out of reach the older one gets.

a reply to: Hazardous1408

I think that maybe a partial solution.

Perhaps a tariff on goods that fall below a certain pay rate? But taxes being high is what helped build the middle class and the US.

The way the economy is working will fail if it is not corrected. But we do not have the leadership with the nuts to change it. In fact it would take an Dwight D. Eisenhower.





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a reply to: seasonal

Here's a solution.

Go find a way to become wealthier, if you desire. Perhaps a change in career, or even a personal review of one's self.


Otherwise, this is nothing but a classic case of whinging.

originally posted by: seasonal
Looks like the wealth divide is getting worse, again.

The world's richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world's elite prepared to mingle at the World Economic Forum in Davos.
A new report from the charity also found that the wealth of billionaires has grown six times faster than that of ordinary workers since 2010, with another billionaire minted every two days between March 2016 and March 2017.

www.afp.com...

Poverty pay-means that the wealthy are amassing ever greater wealth. Of course the story beings up where clothes are made and phones point to the swelling profits going to corps and billionaire investors.

Oxfam used its findings to paint a picture of a global economy in which the wealthy few amass ever-greater fortunes while hundreds of millions of people are "struggling to survive on poverty pay".
The people who make our clothes, assemble our phones and grow our food are being exploited to ensure a steady supply of cheap goods, and swell the profits of corporations and billionaire investors,"said Byanyima.

The solution Oxfam calls for limiting returns to shareholders and top executives among other things.

To fight rising inequality, Oxfam called on governments to limit the returns of shareholders and top executives, close the gender pay gap, crackdown on tax avoidance and increase spending on healthcare and education

And for your viewing pleasure an odd and kinda sick out look from one of the shark tank guys ( Kevin O'Leary). He think the wealth gap is fantastic.

Solutions?


.

But but but the conservatives told me they EARNED it! I'm tired of these hippie socialist posts. Take a shower and get a job.... Stop being lazy, and if you just work really hard you could do the same thing.. All of us.

a reply to: FHomerK

I do make good money, perhaps this is geared to the face less millions in the 3rd world that are being exploited.

originally posted by: FHomerK
a reply to: seasonal

Here's a solution.

Go find a way to become wealthier, if you desire. Perhaps a change in career, or even a personal review of one's self.


Otherwise, this is nothing but a classic case of whinging.

Oh please. Correctly assessing that a very small group of people is suctioning virtually all the wealth out of society isn't "whining," it's recognizing injustice to society and all of us. It's recognizing a highly corrupted system. You see, I can both be okay myself financially and also recognize that's unjust. That's what it means to not be a selfish prick. There are lots of other people that do work hard yet are impoverished.

originally posted by: Quetzalcoatl14

originally posted by: FHomerK
a reply to: seasonal

Here's a solution.

Go find a way to become wealthier, if you desire. Perhaps a change in career, or even a personal review of one's self.


Otherwise, this is nothing but a classic case of whinging.

Oh please. Correctly assessing that a very small group of people is suctioning virtually all the wealth out of society isn't "whining," it's recognizing injustice to society and all of us. It's recognizing a highly corrupted system. You see, I can both be okay myself financially and also recognize that's unjust. That's what it means to not be a selfish prick.

Thank you, said much better than I could have.

a reply to: JinMI

That's not beating them at their own game, that's adjusting to a rigged game and basically admitting defeat. Many people don't have the means to "buy less and spend less" because the majority of their paychecks go to essentials like bills and food.

Beating them at their own game is impossible with the amount of wealth they have accumulated because it's a game of wealth and "pay to play".

I'll tell you one thing, making them pay less in taxes isn't teaching them a lesson because that money they're saving is going straight into offshore accounts and not back into the economy.

a reply to: seasonal


That guy in the video is sick in the head.

a reply to: seasonal

Not a solution but a better way to look at the issue. Perhaps.

The income inequality discussed in the OP and elsewhere is nothing new. And by nothing new, I mean it permeates human history. We do not have spreadsheets for the world since the beginning of time but if we did, I am betting the gaps we see today are not much different than always baring normal fluctuation.

I have a roof over my head and food in the fridge. I do not have zillion dollar portfolio but I am OK. How on Earth can I get upset about what someone else has? I have no clue what their circumstances are. By being envious, I am taking a dump on what I have been able to carve out for myself and family.

If the Sultan of Brunei has umpteen billion dollars, so what? What does he owe me?

a reply to: Quetzalcoatl14

Yes, you are whinging. And no, I did not say whining.

Soooo unjust. Go stand in line, the Democrats will give you all of the government you so desperately need and want.

a reply to: 3NL1GHT3N3D1

Where do those rich folks get their money? Stocks? Bonds? Company ownership? Using less of those things would cause a dent. Granted, in the 'want' department only.

There are many means to generate more income and accumulate wealth. The trick is keeping it.

originally posted by: seasonal
a reply to: FHomerK

I do make good money, perhaps this is geared to the face less millions in the 3rd world that are being exploited.

I too make good money. I just get tired of the panhandlers. FFS, you can even find them begging in online games.

a reply to: ABNARTY

I do not think it is being envious to wonder how on Earth 1% of the pop can rake in 82%. Especially when the people who are working for poverty wages in terrible conditions in 3rd world countries. This is simple exploitation to enrich the few.

I think it helps us sleep better going with the line of thinking you suggested.

a reply to: JinMI

CEO's make nearly 300 times what their average worker makes, one worker would have to work an entire month in order to make what their CEO makes in a single hour. They got that money from rigging the system in their favor, not from honest or moral means I guarantee you. Or do you not agree that lobbyists are an issue with our government and the politicians who bend over backwards for them?

a reply to: FHomerK

This has nothing to do with panhandlers, they more than likely make more than you and I.

This has to do with whole industries being moved from 1st world countries to 3rd. Then the exploitation starts, both the people and the earth.

Welcome to your future. Just work hard and you can be a CEO.

a reply to: 3NL1GHT3N3D1

You're going off on a tangent that I never agreed to.

There is no fixing this current system. It's fully grown and continues to grow. If you find yourself fortunate to jump into it, then good for you I suppose. In the meantime. There are ways and means to actually get oneself into financial security and pave their own way. Complaining that the system fixes itself or those in charge of that system fix it so you and yours can get a piece of the pie is ludicrous.

So yes, admitting defeat may be a logical call. However, omitting oneself from a rigged system is another.