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

"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.

Related news:

Hot News

isis-killer-beheading-video-story-top Pakistan defeat Australia in 2nd ODI
Jan 16, 2017 - 00:50
To make matters worse for Pakistan , their wrecker-in-chief from the Test series, Josh Hazlewood, is set to make a comeback. Australia have made two changes for the second Victoria Bitter ODI Series match against Pakistan at the MCG.

isis-killer-beheading-video-story-top Leaked! Samsung Galaxy S8 allegedly spotted in this promo video
Jan 15, 2017 - 00:55
Reports have suggested that Samsung has set an initial production target of 10 million units at the time of the launch of the S8. As the benchmark below shows, the Galaxy J7 (2017) scored 889 on single-core performance and 4,200 on multi-core.

isis-killer-beheading-video-story-top Schumer: 'I Will Oppose' Jeff Sessions for Attorney General
Jan 15, 2017 - 00:47
He embraces the Jim Crow doctrine of "states' rights", and he will no doubt weaken federal enforcement of voting rights. On Tuesday, Republicans mounted a coordinated pre-emptive strike to criticism that Sessions harbored racist views.

isis-killer-beheading-video-story-top Bank of America Corporation (NYSE:BAC), Sphere 3D Corp. (NASDAQ:ANY)
Jan 15, 2017 - 00:46
The company reported the earnings of $0.41/Share in the last quarter where the estimated EPS by analysts was $0.34/share. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold.

Costa Chelsea future in doubt after reported Conte row
Jan 15, 2017 - 00:43
It follows after an altercation between the striker and members of the Chelsea backroom staff, including Conte . On Tuesday during the training session Diego stopped because he felt a pain in his back. "This is the truth".

isis-killer-beheading-video-story-top Obama Administration To Loosen Sanctions Against Sudan
Jan 15, 2017 - 00:42
One longtime Sudan watcher, Eric Reeves of Harvard, says USA officials tend to overstate Sudan's cooperation on counterterrorism. The State Department first designated Sudan a state sponsor of terrorism in 1993.

isis-killer-beheading-video-story-top Chinese weightlifters lose 2008 titles for doping
Jan 15, 2017 - 00:41
She was only promoted to the bronze medal position after compatriot Natallia Mikhnevich failed an earlier dope test. Liu was also the 2004 Athens Olympics champion in her weight class, and Cao and Chen were world champions in 2007.

isis-killer-beheading-video-story-top Turkish Cypriots tell UN Greek Cypriot map unacceptable
Jan 14, 2017 - 00:38
Their presence will be strongly contested by the Greek side, which says a deal is not possible without them pulling out. However, United Nations envoy Espen Barth Eide , who is facilitating the talks, sought to downplay expectations.

isis-killer-beheading-video-story-top Le Moyne College wants to be part of Governor's Tuition Plan
Jan 14, 2017 - 00:35
The proposal would require participating students to be enrolled at a SUNY or CUNY two- or four-year college full-time. And third, it should recognize that taking on debt to finance investment in education isn't the end of the world.

Giant Telescope to Search for Alien Life in Alpha Centauri
Jan 13, 2017 - 00:35
Proxima b, for instance, is so close to Proxima Centauri that it gets blasted with way more solar radiation than we receive on Earth.

Saudis Cut Even More: Oil Production Falls To 2 Year Low
Jan 13, 2017 - 00:31
Brent crude futures LCOc1, the worldwide benchmark for oil prices, were trading at $56.84 per barrel at 0535 GMT (00.35 a.m. Total (TOT) CEO Patrick Pouyanné said it would take more than six months to clear the market of huge inventories.

isis-killer-beheading-video-story-top Irish woman (29) in critical condition following plane crash in Australia
Jan 12, 2017 - 00:36
The Central Queensland Plane Spotting Blog posted an image of the plane on its official Facebook page with details of the crash. A woman in her 20s was killed when the light plane came down on Middle Island, near the town of 1770, about 10.30am on Tuesday.

Grayson Allen Further Proves He's A Psychopath With Push Of FSU Coach
Jan 12, 2017 - 00:35
One can not help but wonder if Gates would have a different take on this had Florida State not topped Duke 88-72 on Tuesday. Florida State's reserves outscored their counterparts 21-4, but the biggest difference was points in the paint.

Ivanka Trump Confirms She's Leaving the Trump Organization and Her Fashion Label
Jan 12, 2017 - 00:35
It also emphasised the role Kushner had played in the election campaign that culminated in Trump's November 8 win. Federal anti-nepotism laws are generally understood to apply to agencies, not to the White House.

isis-killer-beheading-video-story-top News Report Triggers Alexa To Make Unauthorized Purchases
Jan 11, 2017 - 00:39
It has the capacity to interact with almost every aspect of a user's home, including: lights, thermostats, and door locks. Soon, more than speculations would be known about consumers' response, once appliances with Alexa reaches them.