Thread: The Wealth Gap

Oxfam have released a new report. Some of the key points:

• 82 per cent of the wealth generated last year went to the richest 1 per cent of the global population
• The 3.7 billion people, who make up the poorest half, got nothing
• The report's data, from Credit Suisse, found that 42 people now own the same wealth as the poorest half of humanity
• One person became a billionaire every two days in 2017
• Billionaire wealth has risen by an average of 13 per cent a year since 2010 – six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2 per cent
• It takes just four days for a chief executive from one of the top five global fashion brands to earn what a Bangladeshi garment worker will earn in her entire lifetime
• It would cost $2.2b a year to increase the wages of all 2.5 million Vietnamese garment workers to a living wage. This is about a third of the amount paid out to wealthy shareholders by the top five companies in the garment sector last year

This is the one that sticks out most for me: 42 people now own the same wealth as the poorest half of humanity.

That's mind-boggling.

It's always been that way and always will unless you're Cambodian , then it's back to the fields for re-education.

It absolutely has not 'always been this way' unless 'this way' is being completely oblivious to the shocking manner in which exponentially more wealth is owned by fewer and fewer people these days.

But with the crass materialism, selfishness and blind oblivion displayed on this forum daily I suppose it could be argued that this is the natural conclusion of things.

Originally Posted by AntRobertson

: 42 people now own the same wealth as the poorest half of humanity.

Originally Posted by Chittychangchang

It's always been that way

No, it hasn't.

Originally Posted by AntRobertson

This is the one that sticks out most for me: 42 people now own the same wealth as the poorest half of humanity.

That's mind-boggling.

Absolutely. And a bit sickening to be honest.

We supposedly have 'freedom and democracy', and the vote (well at least in the west). So why are people so complacent they won't do anything about it?

It's not just that the rich are getting richer, either. In our supposedly enlightened societies, uni graduates are often working for peanuts, and wages, working conditions and the social welfare net are under threat. Yet, forty years ago a working man could support a family on his single wage. Sure beats me.

Capitalism.

Originally Posted by nidhogg

Absolutely. And a bit sickening to be honest.

Fucking obscene innit.

Originally Posted by sabang

uni graduates are often working for peanuts

And being saddled with mountains of debt before they've even set foot in the workplace.

I remember well the NZ example as it directly effected me at the time. A generation of politicians who had free education (and some that were actually paid for it) introducing a system of student loans that have burdened every generation since.

Mind, on the flip side, we also thought it was a lark at the time to steal someone's S.Loan card and call up to draw down cash into their account so we could go to the pub and make them buy us beersies. So there's that too.

Originally Posted by Luigi

Capitalism.

Yep. For example, make some coin from exploiting those that come after you in the crypto currency pyramid scheme.
All's fair in captalism.

I think you should be allowed to make as much money as you want in a lifetime but when you pop your clogs it all goes back in the public kitty.

Inheritance (especially of grossly large amounts and of large financial institutions and corporations) is an outdated idea and it is time to start dismantling it as a practice.

But the human spirit and wealth itself thrives on competition (and then trickles down to the less fortunate) so we would be doing a disservice to everyone if we eradicated wealth accumulation.

Even though the lives of the poor in the UK for example might be spartan compared to the rich they are still far more comfortable than the middle class of 100 years ago or even royalty of 500 years ago.

The US has gone from providing free/low cost education to it being a big lending business. In other words, the gov has gone from seeing it as an investment to seeing it as a privilege and money making endeavor.

At minimum, bring back the inheritance tax. And corporations need to pay a bit more tax!

The problems vary between nations. Places like Australia & the Scandi countries at least offer a decent minmum wage (although in Oz, social wefare & pensions are being eroded). France has plenty of problems- but at least workers rights are protected. Then there's the US, where you've got a bloke like Jeff Bezos who's now worth over $100bn- yet the thousand of workers in Amazon warehouses are often on Medicaid & food stamps to get by. And they've just slashed taxes for the rich even further- what sort of a society is that?

Trumpian.

And he, like Thaksin, is considered a man of the people.

People really are fucking dense, eh?

Originally Posted by sabang

At minimum, bring back the inheritance tax. And corporations need to pay a bit more tax!

The problems vary between nations. Places like Australia & the Scandi countries at least offer a decent minmum wage (although in Oz, social wefare & pensions are being eroded). France has plenty of problems- but at least workers rights are protected. Then there's the US, where you've got a bloke like Jeff Bezos who's now worth over $100bn- yet the thousand of workers in Amazon warehouses are often on Medicaid & food stamps to get by. And they've just slashed taxes for the rich even further- what sort of a society is that?

I have a friend who independently published a book and sold it through Amazon , which sold for 25 quid , and he received 70 p from them for each book sold

One of the previous generals here takes the lion's share of jade profits; some $32 billion. Most of Myanmar lives in abject poverty with 60% or more of the country not having electric , running water or the most basic of sanitation. Don't even start to think of health care and education, because it's substandard or non existent for most. The saddest thing? The rampant materialism; new malls, shops, car dealerships, mansions and huge hotels pop up all the time. New schools and affordable housing much less so. Same story to lesser or greater extents around the world.

And drilling children that this is the truth from an early age only adds fuel to the flames imo:



An 'I'm alright Jack" thinking pervades. In the UK homelessness is up, wages down, cost of living soaring, food bank use becoming more common and so on. Right wing media blames immigrants when the real anger should be directed to those in power. We are many, they are few- but I guess its easier to shout about Muslims and go on marches. The rise of the right wing is a huge part of the problem.

^^Did you draw any conclusions from that, or attach it to any element of this discussion?

Just wondering...

Originally Posted by cyrille

Trumpian.

And he, like Thaksin, is considered a man of the people.

People really are fucking dense, eh?

Unbelievably so.

Originally Posted by cyrille

Trumpian.
And he, like Thaksin, is considered a man of the people.
People really are fucking dense, eh?

Yes, some people who consider Trump and Thaksin to be "men of the people" , really are dense

Originally Posted by Looper

I think you should be allowed to make as much money as you want in a lifetime but when you pop your clogs it all goes back in the public kitty.

That's an interesting thought.
It needs qualifications though. There should be a decent (subjective word) bequest available to whomever the deceased wants.

Originally Posted by sabang

At minimum, bring back the inheritance tax. And corporations need to pay a bit more tax!

Yes. And, with Looper's idea in mind, the fact that somewhere around 85% of all wealth in the world is inherited, this is another aspect of the prosperity gap.

Nobody needs billions for themselves. Gates, Trump, and the Sultan of Brunei can have their private jets etc and still have far too much than they can squander while people are dying.

Originally Posted by Fluke

Yes, some people who consider Trump and Thaksin to be "men of the people" , really are dense

Here is a whole nest of the stupid cvnts
https://www.facebook.com/groups/Jaco...ogg/?ref=br_rs

The comments...ye gods!

Originally Posted by Fluke

Yes, some people who consider Trump and Thaksin to be "men of the people" , really are dense

That clearly hasn't hit the target you think it has, but thanks for playing.

WEALTH GAP ?

I lost 10 baht down the back of the sofa once.

3 weeks later, I found it, the wife's clitoris, half a packet of Lays and a button.

I think you should be allowed to make as much money as you want in a lifetime but when you pop your clogs it all goes back in the public kitty.

human nature and parenthood being what it is would probably ensure that ambition, investment and the associated opening and expansion of large businesses with their employment opportunities would be stifled.

sounds like communism.

Whilst Oxfam publishes this report, one Oxfam exec in the US gets paid $500,000, still the same shit from 2013 when we had the big media postings about charities getting paid big bucks.

If you look at the Oxfam pay scales in the UK,none are on the Min wage. ha ha ha