The 1% owns even more wealth today
Well maybe 50% of Americans should “work harder”!! So then Bill, warren, and Jeff can have even more money
“the country’s three richest individuals—Bill Gates, Warren Buffett and Jeff Bezos—collectively hold more wealth than the bottom 50% of the domestic population”
Collectively, the billionaires on the Forbes 400 hold more wealth than the bottom 64% of America, “more people than the populations of Mexico and Canada combined.”
The trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
Oxfam said that governments should focus on policies that would lead to fairer distribution of wealth and stronger workers’ rights.
These could include introducing a living wage, supporting labor unions and tackling gender discrimination.
Governments also need to tackle tax avoidance and put limits on shareholder returns and executive pay, Oxfam said. The group argues companies should not issue dividends to shareholders unless they pay their workers a living wage.
Oxfam also said that tax policies should be used to reduce extreme wealth.
“The concentration of extreme wealth at the top is not a sign of a thriving economy but a symptom of a system that is failing the millions of hard-working people on poverty wages who make our clothes and grow our food”
More than 80 per cent of the all the wealth generated globally last year flowed into the coffers of the richest one per cent of the population, a new Oxfam report has revealed. The research, published on Monday, also shows that the 3.7 billion individuals who make up the poorest half of the global p…
“The wealthiest 25 individuals in the United States today own $1 trillion in combined assets,” the report notes. “These 25, a group equivalent to the active roster of a major league baseball team, hold more wealth than the bottom 56 percent of the U.S. population combined, 178 million people.”
“The elite ranks of our billionaire class continue to pull apart from the rest of us,” a new Institute for Policy study analysis finds
People criticize socialist policy because it helps distribute wealth to the masses, but wealth redistribution is wealth redistribution whether it flows up or down.
To quote Bernie Sanders “this is voodoo economics.” Trickle down theory is a lie. We’ve over 3 decades of proof.
When apologist complain that “rich people pay most of the taxes” tell them that’s because they “own” most of the wealth.
The top 10% of households saw their share of total family wealth jump from two-thirds to three-quarters between 1989 and 2013, a new report finds. Everyone else saw their slice of the pie shrink.