Clipping Board » Other ─ There is currently no cure for this disease of the country and society...
United Daily News, by Ren Zhongyuan, January 21, 2014
As global political leaders and business elites gathered in Davos, Switzerland, for this year's World Economic Forum, Oxfam International released a report on the 20th, revealing that the combined wealth of the world’s 85 richest individuals amounts to NT$50 trillion—equivalent to the total wealth of the poorest 3.5 billion people globally. The report warns that excessive concentration of economic resources is exacerbating wealth inequality, threatening global political stability and heightening social tensions.
The Guardian reported that the world’s most powerful figures have been arriving by helicopter or private jet at the Davos ski resort for the forum, where they will discuss global economic conditions over four days of meetings, seminars, and banquets starting on the 22nd. Oxfam’s report serves as a stark reminder to these "elites" of the severe wealth disparity plaguing the world.
Oxfam’s Executive Director, Winnie Byanyima, who will also attend the forum, stated, "It is shocking that in the 21st century, half of the world’s population—3.5 billion people—own no more than a tiny elite whose numbers could fit comfortably on a double-decker bus."
The report further notes that the top 1% of the world’s wealthiest individuals hold a combined fortune of approximately NT$330 trillion—65 times the total wealth of the poorest 3.5 billion. The richest 1% of households own 46% of global wealth, nearly NT$3,500 trillion.
In the report titled "Working for the Few," Oxfam emphasizes that worsening inequality is largely driven by the wealthy "capturing power"—manipulating political processes to skew policies in their favor. These include financial deregulation, tax havens, anti-competitive business practices, tax cuts for high earners, and reductions in public spending that serves the majority. Since the late 1970s, among the 30 countries with sufficient data, 29 have reduced taxes for the richest.
Byanyima pointed out, "Growing inequality is creating a vicious cycle where wealth and power increasingly concentrate in the hands of a few, leaving the rest of us to fight over crumbs from the rich man’s table."
Oxfam’s surveys found widespread public belief that the wealthy wield excessive influence over national futures. Byanyima added, "In both developed and developing nations, the lowest tax rates, best healthcare and education, and greatest opportunities are reserved for the rich and their children. The gap between the privileged and the disadvantaged will persist across generations."
Oxfam calls on forum attendees to pledge: support for progressive taxation and transparency in tax payments; abstention from using wealth for political gain; disclosure of all investments and trusts where they are beneficiaries; demands for governments to fund universal healthcare, education, and social security through taxation; insistence that businesses pay living wages; and urging fellow economic elites to make the same commitments.
Source: http:/ / tw. news. yahoo. com/ % E5……8% BD% E5% 92% 8C- 194700660. html
Wealth of Top 85 Equals 3.5 Billion Poorest
As global political leaders and business elites gathered in Davos, Switzerland, for this year's World Economic Forum, Oxfam International released a report on the 20th, revealing that the combined wealth of the world’s 85 richest individuals amounts to NT$50 trillion—equivalent to the total wealth of the poorest 3.5 billion people globally. The report warns that excessive concentration of economic resources is exacerbating wealth inequality, threatening global political stability and heightening social tensions.
The Guardian reported that the world’s most powerful figures have been arriving by helicopter or private jet at the Davos ski resort for the forum, where they will discuss global economic conditions over four days of meetings, seminars, and banquets starting on the 22nd. Oxfam’s report serves as a stark reminder to these "elites" of the severe wealth disparity plaguing the world.
Oxfam’s Executive Director, Winnie Byanyima, who will also attend the forum, stated, "It is shocking that in the 21st century, half of the world’s population—3.5 billion people—own no more than a tiny elite whose numbers could fit comfortably on a double-decker bus."
The report further notes that the top 1% of the world’s wealthiest individuals hold a combined fortune of approximately NT$330 trillion—65 times the total wealth of the poorest 3.5 billion. The richest 1% of households own 46% of global wealth, nearly NT$3,500 trillion.
In the report titled "Working for the Few," Oxfam emphasizes that worsening inequality is largely driven by the wealthy "capturing power"—manipulating political processes to skew policies in their favor. These include financial deregulation, tax havens, anti-competitive business practices, tax cuts for high earners, and reductions in public spending that serves the majority. Since the late 1970s, among the 30 countries with sufficient data, 29 have reduced taxes for the richest.
Byanyima pointed out, "Growing inequality is creating a vicious cycle where wealth and power increasingly concentrate in the hands of a few, leaving the rest of us to fight over crumbs from the rich man’s table."
Oxfam’s surveys found widespread public belief that the wealthy wield excessive influence over national futures. Byanyima added, "In both developed and developing nations, the lowest tax rates, best healthcare and education, and greatest opportunities are reserved for the rich and their children. The gap between the privileged and the disadvantaged will persist across generations."
Oxfam calls on forum attendees to pledge: support for progressive taxation and transparency in tax payments; abstention from using wealth for political gain; disclosure of all investments and trusts where they are beneficiaries; demands for governments to fund universal healthcare, education, and social security through taxation; insistence that businesses pay living wages; and urging fellow economic elites to make the same commitments.
Source: http:/ / tw. news. yahoo. com/ % E5……8% BD% E5% 92% 8C- 194700660. html