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World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

TU Curmudgeon

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From United Press International

World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

Jan. 21 (UPI) -- The economic divide between the world's haves and have-nots widened last year, as the planet's billionaires saw their collective wealth increase by $2.5 billion a day while humanity's poorest half saw its wealth drop by 11 percent, a report published Monday by Oxfam showed.

Published a day before the start of the World Economic Forum in Davos, Switzerland, the "Public Good or Private Wealth" report by the anti-poverty NGO states that the number of billionaires has almost doubled since the 2008 financial crisis while the world's corporations and super rich are "undertaxed."

"Governments have been reducing both the top rate of personal income tax and the rate of corporate income tax over the long term," the report said, adding that if this were reversed, countries could afford "universal public services."

This growing wealth gap is hurting the fight against poverty while damaging nations' economies and stirring public unrest the world over, the report states.

COMMENT:-

"Obviously" this is "The Way God Wants It To Be" because if all of those so-called "poor" people were actually virtuous Christians then God would have made them rich.

After all, it wouldn't be true that the "Richest 26 people now own same wealth as poorest half of the world" if that wasn't the way that God wanted it to be?

Right?
 

Surrealistik

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A great interview on the subject recently given by Anand Giridharadas, a fellow of the Aspen Institute on Bloomberg:

 

TU Curmudgeon

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A great interview on the subject recently given by Anand Giridharadas, a fellow of the Aspen Institute on Bloomberg:



If "personal total wealth" were capped at $3,944,700,000 that would be enough money to allow a person to spend $100 per minute, 24/7/52 for 75 years.

Personally, I'd have a great deal of difficulty spending $144,000 a day for much longer than 120 days before I started running out of things that I actually wanted to have (as opposed to things which showed how much money I had).
 

Eriech

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Live below your means and invest what you keep. Those who do that will grow their wealth those who don't won't.

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