Thread: World's richest one per cent to own more than the rest: Oxfam

The world's richest 1 per cent will own more than the other 99 per cent by next year, Oxfam has warned.

The charity has highlighted growing inequality ahead of the World Economic Forum in Davos this week.

A research paper suggests the wealthiest 1 per cent have seen their share of global assets rise from 44 per cent in 2009 to 48 per cent last year - with an average worth of $2.92 million each. The figure is on track to exceed 50 per cent this year.

Below the richest fifth, 80 per cent of the world's population own just 5.5 per cent of wealth - an average of $4166 each.

"The scale of global inequality is quite simply staggering," Oxfam executive director Winnie Byanyima said.

"And despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast."

Byanyima, who is to co-chair at the Davos World Economic Forum this week, urged leaders to take on "vested interests that stand in the way of a fairer and more prosperous world".

Oxfam has called upon states to tackle tax evasion, improve public services, tax capital rather than labour, and introduce living minimum wages, among other measures, in a bid to ensure a more equitable distribution of wealth.

The 45th World Economic Forum, which starts on Wednesday, will draw a record number of participants this year with more than 300 heads of state and government attending.

Rising inequality will be competing with other global crises including terrorist threats in Europe, the worst post-Cold War stand-off between Russia and the West and renewed fears of financial turmoil.

AFP

World's richest one per cent to own more than the rest: Oxfam

Oxfam has called upon states to tackle tax evasion, improve public services, tax capital rather than labour, and introduce living minimum wages, among other measures, in a bid to ensure a more equitable distribution of wealth.

SOCIALIST!

Dare say this will be treated like a satisfactory "work in progress" report to the Elites at Davos. Wonder what target they have set themselves for next year? 75% ?

Obviously the 1% has a short fall this year. Numbers and their meanings? India, Africa, South America, China, Mexico, Central America, Eastern Europe, (to many to list), Names and their meanings: Over population, abject poverty, inadequate health resources, lack of industry, education, and political turmoil...

1% of nothing is still "nothing."

Next fictional data please?

Originally Posted by ltnt

Obviously the 1% has a short fall this year. Numbers and their meanings? India, Africa, South America, China, Mexico, Central America, Eastern Europe, (to many to list), Names and their meanings: Over population, abject poverty, inadequate health resources, lack of industry, education, and political turmoil...

1% of nothing is still "nothing."

Next fictional data please?

What about Thailand?

Kill 'em all, and lets waste the spoils betwen the rest of us.

Originally Posted by Necron99

Below the richest fifth,

Some fool spelled filth incorrectly...

The funny part is that many of those "evil" rich hail from wonderful countries such as India, China, Korea and good ole Russia.

Originally Posted by zygote1

The funny part is that many of those "evil" rich hail from wonderful countries such as India, China, Korea and good ole Russia.

John Kerry is on his way. Hope they have a super sized tub of hair cream for him, primed and ready.

Originally Posted by zygote1

The funny part is that many of those "evil" rich hail from wonderful countries such as India, China, Korea and good ole Russia.

True, but most of them live in London.

A properly organised socialist/labour/working class party should win landslide election victories in any democratic country.

Why folk who don't have much to their name considers themselves to be 'Conservative' and vote to maintain the social status quo leaves me baffled.

Perhaps Koojp can answer this.

Originally Posted by harrybarracuda

Exactly....
Well proposed, Harry!

Originally Posted by The Ghost Of The Moog

A properly organised socialist/labour/working class party should win landslide election victories in any democratic country.

Why folk who don't have much to their name considers themselves to be 'Conservative' and vote to maintain the social status quo leaves me baffled.

The problem with socialist/labour/working class parties is that they are all tax and spend and they always end up shafting whether intentionally or not the people they are supposed to be representing. France being a good current example.

Originally Posted by buriramboy

The problem with socialist/labour/working class parties is that they are all tax and spend

You left out,"someone else's hard earned money."

Originally Posted by sabang

Kill 'em all, and lets waste the spoils betwen the rest of us.

It is a ponderer. 1% of 7 billion is 70 million. Most of the billions of people in the planet are in debt in one form or another, and those 70 million people hold half of that debt.

There is no such thing as money, only debt owed by someone to someone else. Those billions in debt would be quite capable of killing the 1% they are in debt to, and by doing so instantly wipe out their debts. In this age of communication technology, there isn't actually that much stopping them from organising themselves to do it. Those 1% will need to start watching over their shoulders in future years.

Originally Posted by harrybarracuda

-Jonathan Swift

Originally Posted by ltnt

Originally Posted by buriramboy

The problem with socialist/labour/working class parties is that they are all tax and spend

You left out,"someone else's hard earned money."

^+1

Most politicians have created nothing of consequence in their lives- besides a huge volume of hot air. But they are all too eager to spend the money of people that work -and save- to win votes from the idle.

Bread & Circuses, right out of the Roman Empire play book...

Originally Posted by Begbie

Originally Posted by buriramboy

Originally Posted by The Ghost Of The Moog

A properly organised socialist/labour/working class party should win landslide election victories in any democratic country.

Why folk who don't have much to their name considers themselves to be 'Conservative' and vote to maintain the social status quo leaves me baffled.

The problem with socialist/labour/working class parties is that they are all tax and spend and they always end up shafting whether intentionally or not the people they are supposed to be representing. France being a good current example.

The conservatives are also tax and spend. They tax the less well off with indirect taxes such as VAT. The working poor in the UK are giving about 49% of their income to the government in tax in one form or another.

I actually agree with VAT as a tax, in my world income tax would be 0 and VAT at whatever rate to make up the shortfall so then everyone pays for what they use/consume. Just to show I have a bit of heart I'd keep healthy food VAT free.

^
Exactly, only tax consumption that way the more you tax the system the more you are taxed that would be much more equitable than the current taxation on multiple levels.

Live your protest.

Be the change.