Eight billionaires are rich as half world's population, says charity

Amancio Ortega the Spaniard behind fashion chain Zara is worth £55billion

"But as new technologies are developed, the question of who controls them, who stands to profit from them, and which technology is the most socially useful to focus on becomes ever more important".

"We've found out that 200 million more people will be trapped unnecessarily in extreme poverty by 2030 unless we act now to address inequality", says Oxfam.

The wealth of the super rich has reportedly surged by around 11 percent per year since 2009. At the same time, the richest 1 percent have enjoyed growing income levels. Just 8 men. Have as much wealth as 3.6 billion poor men, women and children.

The Inland Revenue's high-wealth individuals unit shows the number of the wealthiest Kiwis jumped by nearly 20 per cent between October 2015 and June 2016, from 212 people worth more than $50 million to 252. That means, for example, that young adults in the US who have a big mortgage and maybe a vehicle loan and a student loan will, on paper, seem poor.

The findings are contained in a study by the Oxfam which forms part of a global report the aid agency plans to release later today.

Along those lines, Kripke said he believes Mr. Trump's tax and economic proposals are likely to exacerbate economic inequality rather than reduce it.

Oxfam is calling on worldwide leaders to improve their cooperation to stop tax dodging; take action to encourage companies to act for the benefit of staff as well as shareholders; for wealth taxes to fund healthcare, education and job creation, and improvements in opportunities for women.

"Crony capitalism benefits the rich, the people who own and run these corporations, at the expense of the common good and of poverty reduction". He called the wealth of the top eight individuals "biblical".

The charity said new information had shown that poor people in China and India owned even fewer assets than previously thought, making the wealth gap more pronounced than it thought a year ago, when it announced that 62 billionaires owned the same wealth as the poorest half of the global population. As the Credit Suisse reports in US$, it is of course true that wealth held in other currencies must be converted to US$.

The above chart shows the stark reality that, since the turn of the century, the poorest half of the world's population has received just 1 per cent of the total increase in global wealth. Also present are Carlos Slim, whose various foundations have assets in the billions, Mark Zuckerberg who kicked off his philanthropy at scale previous year with a $3bn pledge, Larry Ellison who has committed 95% of his wealth to charity and Michael Bloomberg who committed over $1bn to his old University alone and has multiple other charitable initiatives. The rising value of the dollar also contributed.

"An economy for the 99 percent" was prepared using Forbes' billionaires list. The president-elect has nominated the wealthiest group in American history to his Cabinet.

The administration's first major policy push ― repealing the Affordable Care Act ― would take health insurance and other health protections away from millions, while giving a tax cut to the richest Americans, HuffPost's Jonathan Cohn reported recently.

A human economy will be powered by sustainable renewable energy...

Tragically, numerous British people who suffer most from this inequality have been persuaded to blame foreigners for their problems.

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