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  1. #1
    Thailand Expat misskit's Avatar
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    World’s 26 richest own same wealth as poorest half of humanity: Oxfam

    DAVOS, SWITZERLAND (AFP) – The world’s 26 richest people own the same wealth as the poorest half of humanity, Oxfam said on Monday, urging governments to hike taxes on the wealthy to fight soaring inequality.


    A new report from the charity, published ahead of the World Economic Forum in Davos, also found that billionaires around the world saw their combined fortunes grow by US$2.5 billion (77 billion baht) each day in 2018.


    The world’s richest man, Amazon chief executive officer Jeff Bezos, saw his fortune increase to US$112 billion last year, Oxfam said, pointing out that just 1 per cent of his wealth was the equivalent to the entire health budget of Ethiopia, a country of 105 million people.


    The 3.8 billion people at the bottom of the scale, meanwhile, saw their wealth decline by 11 per cent last year, Oxfam said, stressing that the growing gap between rich and poor was undermining the fight against poverty, damaging economies and fuelling public anger.


    “People across the globe are angry and frustrated,” warned Oxfam executive director Winnie Byanyima in a statement.


    The numbers are stark: Between 1980 and 2016, the poorest half of humanity pocketed just 12 cents on each dollar of global income growth, compared with the 27 cents captured by the top 1 per cent, the report found.



    UNDER-TAXING THE RICH


    Oxfam warned that governments were exacerbating inequality by increasingly underfunding public services like healthcare and education at the same time as they consistently under-tax the wealthy.


    Calls for hiking rates on the wealthy have multiplied amid growing popular outrage in a number of countries over swelling inequality.


    In the United States, new congresswoman Alexandria Ocasio-Cortez made headlines earlier this month by proposing to tax the ultra-rich up to 70 per cent.


    The self-described Democratic Socialist’s proposal came after President Donald Trump’s sweeping tax reforms cut the top rate last year from 39.6 per cent to 37 per cent.


    And in Europe, the “yellow vest” movement that has been rocking France with anti-government protests since November is demanding that President Emmanuel Macron repeal controversial cuts to wealth taxes on high earners.


    “The super-rich and corporations are paying lower rates of tax than they have in decades,” the Oxfam report said, pointing out that “the human costs – children without teachers, clinics without medicines – are huge”.


    “Piecemeal private services punish poor people and privilege elites,” it said, stressing that every day, some 10,000 people die due to the lack of access to affordable healthcare.


    The report, released as the world’s rich, famous and influential began arriving for the plush annual gathering at the luxury Swiss ski resort town, urged governments to “stop the race to the bottom” in taxing rich individuals and big corporations.


    Oxfam found that asking the richest to pay just 0.5 per cent extra tax on their wealth “could raise more money than it would cost to educate all 262 million children out of school and provide healthcare that would save the lives of 3.3 million people”.

    https://www.thaipbsworld.com/worlds-...umanity-oxfam/

  2. #2
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  3. #3
    The Fool on the Hill
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    Money is artificial - taxation is a game - change the rules - the rich will change their assets - tax lawyers and accountants will service the "wealth"

    the impression that things will get better is easy to sell...

    not so much the delivery

  4. #4
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    A Davos report mainly regarding Brazil's new President.



    Brazil’s Bolsonaro sings a song of human folly at Davos

    "No Xi, no Putin, no Modi. No Trump, no Macron, no May. Merkel could hardly be billed as a chart-topper. Facing no competition, Brazilian President Jair Bolsonaro, the former paratrooper gleefully adopted by Western media as “the Trump of the tropics”, could not possibly be upstaged at the World Economic Forum (WEF) in Davos as the new savior of global capitalism.

    The Davos Man (and, in much-reduced scale, Woman) was quite intrigued by the debutante’s first dance in the geoeconomic ballroom. After all, he had been promising privatization a-go-go, tax cuts, the definitive defeat of “the communists” and an unprecedented fire sale of juicy Brazilian assets. That sounded better than caipirinhas – the national cocktail – in the sun.

    Well, the dream lasted a full six minutes.

    Bolsonaro said he “took office amid a great ethical, moral and economic crisis” and now he would change history. He stressed his ministers are committed to cracking down on corruption and money laundering. Well, perhaps not corruption by his son Flavio, already involved in a multi-pronged scandal that walks and talks like, well, money laundering, mixed with a dodgy association with a death squad, The Crime Bureau, in Rio de Janeiro.


    Dynamism and deforestation?

    On the international stage, he swore relations would be more “dynamic” and with no “ideological bias” under new Minister of Foreign Relations Eduardo Araujo, a former low-level diplomatic nullity who believes the acronym “BRICS” is a satanic invention.

    Bolsonaro was glowing as he declared Brazil “a paradise”, adding, “no other country in the world has as many forests as we do.”

    Well, these lungs of Planet Earth may be destined to Sahara status, as Bolsonaro has already transferred the control of Brazilian indigenous reserves to the Ministry of Agriculture, a de facto subsidiary of the powerful agribusiness lobby.

    Bolsonaro’s Amazon message could not be more, well, unpolluted: “It is now our mission to make progress in harmonizing environmental preservation and biodiversity, with the much needed economic development.”

    Lord Nicholas Stern, of the London School of Economics, wrote a very good, detailed report on the economics of climate change.

    At Davos, Stern said: “Bolsonaro was elected on a program to deal with violence and criminality that kills 40-50,000 people a year. My guess is that 100,000 die from air pollution.”

    He also said he raised the need to protect the Amazon rainforest with Bolsonaro’s top Chicago Boy and finance czar Paulo Guedes, when they met in Davos.

    It’s easy to imagine the reaction of Team Bolsonaro at Sir David Attenborough, plugging his new Netflix series, decreeing to Davos Man (and Woman) that the Holocene has ended; the Garden of Eden is no more; and human folly towards the environment has pushed us into a new geological age, the Anthropocene.

    All fled the plantation

    In the Saving Global Capitalism chapter, Bolsonaro remained on strict Davos script: low taxes, “reforming” social security, mega-privatizations, and lifting the “heavy weight” of the state. He clinched it with “God above everything”; that was certainly more Trump than Xi. And then he was gone, replaced by Mike Pompeo via satellite.

    A case can be made that 1,500 private jets fighting for parking space plus a perpetual limo traffic jam – talk about environmentally conscious elites – made more impact at Davos than Bolsonaro’s six minutes of fame. Robert Shiller, the 2013 Nobel Laureate for Economics, said Bolsonaro “scares him”.

    A Looney Tunes element was also in play. The English version of the minimalist interview the president gave when he arrived at Davos – he later skipped the required press conference – revealed that at the top of the Bolsonaro government no one speaks decent English. And a day before even his ministers and close advisers didn’t know what he was going to say.

    No wonder the proverbial mass of “foreign investors” would rather point their champagne glasses toward the genuine article: China.

    On the global financial risk panel, the vice-chair of China Securities Regulatory Commission, Fang Xinghai, stressed: “We should not overreact. China is slowing down but it’s not going to be a disaster”, adding that Beijing’s strategies have constantly “avoided financial crises over the last 40 years”, something that never happens in G-7 territory.

    City of London voices are predictably echoing Davos in their utmost fear of “populist authoritarians” and “illiberal democracy” – complete with the condescending addendum that even though Trump may be a right-wing populist with authoritarian traits, like Bolsonaro, he’s less threatening because he’s controlled by “US institutions”.

    With pitiful insight like this, Davos Man (and Woman) could do worse to understand which way the wind is blowing than plunge into ‘Twilight of the Elites: Prosperity, the Periphery, and the Future of France’, by geographer Christophe Guilluy, just translated into English by Yale University Press.

    Yellow Vests


    Writing two years before the advent of the Gilets Jaunes – Yellow Vests, Guilluy convincingly shows how, once again, it’s all about class struggle. But now, the working class “refuses any longer to be enslaved by their old political and cultural masters”.

    He lauds the emergence of a “counter-society that in every respect is at odds with the economic and social model of the dominant classes. From the banlieues (suburbs) to the lands of peripheral France, the implications of this shift affect everyone who belongs to the working class … they all fled the plantation, and they will not be coming back.”

    No wonder Macron skipped Davos; he’s got to deal with the real thing (and he doesn’t know how).


    Brazil's Bolsonaro sings a song of human folly at Davos - Asia Times
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    Last edited by OhOh; 27-01-2019 at 06:58 PM.
    A tray full of GOLD is not worth a moment in time.

  5. #5
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    Every billionaire is a government policy failure?

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    The real topic of discussion:

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    When he worked so hard:

    Daimler boss Dieter Zetsche to get €4,250 per day retirement package

    The outgoing head of Daimler, which makes Mercedes-Benz cars, will pocket more than €1 million annually and is eligible for even more. The sum is reportedly a record pension package for the head of a German company.

    Dieter Zetsche, the chairman of German carmaker Daimler, will get an annual pension package of €1.05 million ($1.2 million) after he leaves his post this year, the company confirmed Sunday.

    "There could be further claims on top of that," a Daimler spokesperson told news agency dpa, adding that the pension package was set in 2017.

    The spokesperson said Zetsche would also be entitled to draw on a separate retirement fund set up for Daimler managers which could amount to an additional €500,000 per year.

    That amount, combined with his pension package, would break down to around €4,250 per day.

  8. #8
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    ^ What will his personal security cost?

    See the "Close" movie to see how the ultra rich exist.



    A counter-terrorism expert takes a job protecting a young heiress. After an attempted kidnapping puts both of their lives in danger, they must flee.
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  9. #9
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    Quote Originally Posted by OhOh View Post
    ^ What will his personal security cost?

    See the "Close" movie to see how the ultra rich exist.
    The clue is in the word "movie".

    You realise it's not a documentary, right?


  10. #10
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    You obviously missed the connection to an announced pension plan of immense value and the feuding of high net worth family.

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