Wealthiest 1% Will Now Own More Than The Rest Of US

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Redheart

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Wealthiest 1% will soon own more than rest of us combined, Oxfam says - CNN.com

Turns out, the rich really are getting richer. And they'll soon own more than the rest of us put together.

So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year.

"The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014," Oxfam says in a report Monday.

At that rate, the wealthiest will own more than 50% by next year, according to the report.

"Do we really want to live in a world where the 1% own more than the rest of us combined?" asked Winnie Byanyima, executive director of the international aid agency.

Global inequality ... simply staggering'

Byanyima will co-chair the annual World Economic Forum in Davos this week.

She plans to use the platform at Davos to call for urgent action on the rising inequality.

The 80 richest people on the planet have the same wealth as the poorest 3.5 billion people, the report says.

"The scale of global inequality is quite simply staggering; and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," she said.

"It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world."

Call for action

While 1% of the population owns 48% of the world's wealth, a majority of the remainder follows the same trend.

"Of the remaining 52% of global wealth, 46% is owned by the rest of the richest fifth of the world's population," the report says.

The remainder of the population only possesses 5.5% of global wealth.

Their wealth last year? An average $3,851 per adult, the report says.

'Global elite'

Meanwhile, the "global elite" members had an average wealth of $2.7 million each last year, it says.

The report comes a day before President Barack Obama is expected to unveil proposals that close tax breaks on the wealthy.

Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.
 
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The richest will make sure that ordinary people are under their control. They will do anything to see us remain as consumers and not competitors.


Funny :D

Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.

Obama needs to pay a visit to let's say venice beach for example and see the countless number of homeless sleeping around.

Homeless people need shelter and rehab. Unemployment rate is increasing......etc.

So instead of funding Israel and Iraq, fighting in Afghanistan and elsewhere he should cut defense budget and give the money to his own people who are in urgent need. Or at lease help cut deficit.



Yes we can he can't.
 
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Redheart

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Obama is a joke. In fact, most of his predecessors were as bad as him. The country is swimming in debt but . . .
The UN boasts 193 members, and the U.S. provided economic assistance to 184 of them, or 96% of the countries in the world.
That money would be better spent getting the homeless off the streets.
 
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Wealthiest 1% will soon own more than rest of us combined, Oxfam says - CNN.com

Turns out, the rich really are getting richer. And they'll soon own more than the rest of us put together.

So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year.

"The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014," Oxfam says in a report Monday.

At that rate, the wealthiest will own more than 50% by next year, according to the report.

"Do we really want to live in a world where the 1% own more than the rest of us combined?" asked Winnie Byanyima, executive director of the international aid agency.

Global inequality ... simply staggering'

Byanyima will co-chair the annual World Economic Forum in Davos this week.

She plans to use the platform at Davos to call for urgent action on the rising inequality.

The 80 richest people on the planet have the same wealth as the poorest 3.5 billion people, the report says.

"The scale of global inequality is quite simply staggering; and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," she said.

"It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world."

Call for action

While 1% of the population owns 48% of the world's wealth, a majority of the remainder follows the same trend.

"Of the remaining 52% of global wealth, 46% is owned by the rest of the richest fifth of the world's population," the report says.

The remainder of the population only possesses 5.5% of global wealth.

Their wealth last year? An average $3,851 per adult, the report says.

'Global elite'

Meanwhile, the "global elite" members had an average wealth of $2.7 million each last year, it says.

The report comes a day before President Barack Obama is expected to unveil proposals that close tax breaks on the wealthy.

Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.
This is kind of a scary thing to happen especially in the US. I can imagine another lay over and people losing their homes from banks. I hope not though.
 
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Here is a study on American debt done by one of our Tv channels. Worth watching.

Skip to 2:40

 
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Obama is a joke. In fact, most of his predecessors were as bad as him. The country is swimming in debt but . . .

That money would be better spent getting the homeless off the streets.
The situation in the UK is pretty similar - we are up to our eyeballs in debt, people are sleeping on the streets and there's little kids who aren't getting enough to eat. But we're still sending millions of pounds worth of aid to other countries. Now, I'm not saying we shouldn't try to help, but it just seems screwed up when we haven't got our own country in order yet.
 
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For the UK I could understand why they'd want to help other nations. Some of them are their former colonies so it's like they're repaying a debt, making reparations for stealing land and murdering the natives. But more than 50 years have gone by since the era of colonialism. It's time to let go of the past.
This is kind of a scary thing to happen especially in the US. I can imagine another lay over and people losing their homes from banks. I hope not though.
A recession is coming. It won't take long . . .
 

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