Report says richest 1% will control most wealth by 2016
Jan 19, 2015 15:24:47 GMT -5
Post by J.J.Gibbs on Jan 19, 2015 15:24:47 GMT -5
As the Bible says, "For what shall it profit a man, if he shall gain the whole world, and lose his own soul?" (Mark 8:36) They may have wealth for a short time, but without Jesus...
Report says richest 1% will control most wealth by 2016
Kim Hjelmgaard, USA TODAY 2:41 p.m. EST January 19, 2015
EPA SPAIN INEQUALITY POL CITIZENS INITIATIVE & RECALL ESP
ZURICH —The world's richest 1% will soon amass wealth that represents more than the entirety of that owned by the rest of the people on our planet, a new report released Monday by the British anti-poverty charity Oxfam claims.
The study, published ahead of this week's annual meeting of the World Economic Forum in Davos, Switzerland, suggests that by 2016 the gap between the world's rich and poor will widen to the extent that those at the top of the income pile will control over 50% of total global wealth. That percentage is up from 48% in 2014.
In 2014, the 80 richest people had a collective wealth of $1.9 trillion — a rise of $600 billion, or 50% in four years, according to the report, Wealth: Having It All and Wanting More. The report used data taken from Forbes' billionaires list and also research conducted by Swiss financial services group Credit Suisse.
The increasing disparity comes as dozens of heads of state and hundreds of chief executives gather in the Swiss Alps under pressure to find ways of reducing inequality. President Obama is also expected on Tuesday in his State of the Union Address to unveil a series of proposals aimed at alleviating economic inequality in the United States.
In Switzerland, Oxfam's Executive Director Winnie Byanyima, who is co-chairing this year's World Economic Forum meeting, is expected to call at the conference for "urgent action" to address inequality, starting with a clampdown on tax dodging by corporations and rich individuals. She will also push for progress toward a global deal on climate change, Oxfam said.
"Do we really want to live in a world where the 1% own more than the rest of us combined?" Byanyima said. "The scale of global inequality is quite simply staggering and despite the issue shooting up the global agenda, the gap between the richest and the rest is widening fast.
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Report says richest 1% will control most wealth by 2016
Kim Hjelmgaard, USA TODAY 2:41 p.m. EST January 19, 2015
EPA SPAIN INEQUALITY POL CITIZENS INITIATIVE & RECALL ESP
ZURICH —The world's richest 1% will soon amass wealth that represents more than the entirety of that owned by the rest of the people on our planet, a new report released Monday by the British anti-poverty charity Oxfam claims.
The study, published ahead of this week's annual meeting of the World Economic Forum in Davos, Switzerland, suggests that by 2016 the gap between the world's rich and poor will widen to the extent that those at the top of the income pile will control over 50% of total global wealth. That percentage is up from 48% in 2014.
In 2014, the 80 richest people had a collective wealth of $1.9 trillion — a rise of $600 billion, or 50% in four years, according to the report, Wealth: Having It All and Wanting More. The report used data taken from Forbes' billionaires list and also research conducted by Swiss financial services group Credit Suisse.
The increasing disparity comes as dozens of heads of state and hundreds of chief executives gather in the Swiss Alps under pressure to find ways of reducing inequality. President Obama is also expected on Tuesday in his State of the Union Address to unveil a series of proposals aimed at alleviating economic inequality in the United States.
In Switzerland, Oxfam's Executive Director Winnie Byanyima, who is co-chairing this year's World Economic Forum meeting, is expected to call at the conference for "urgent action" to address inequality, starting with a clampdown on tax dodging by corporations and rich individuals. She will also push for progress toward a global deal on climate change, Oxfam said.
"Do we really want to live in a world where the 1% own more than the rest of us combined?" Byanyima said. "The scale of global inequality is quite simply staggering and despite the issue shooting up the global agenda, the gap between the richest and the rest is widening fast.
link