World's 85 Richest People Are as Wealthy as ...
admin
moderator
founder
Posted by MilesCity.com Webmaster (+10013) 8 years ago
The Atlantic wrote:
The World's 85 Richest People Are as Wealthy as the Poorest 3 Billion

The report that everybody's talking about this morning is Oxfam's opus on global inequality, which leads with an eye-popping statistic: The richest 85 people in the world own more wealth than the bottom half of the entire global population.

Yes, that equation works out to: 85 > 3,000,000,000.

Before we dig into the document, a programming note about wealth inequality. Wealth isn't income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don't immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it's predictable that wealth inequality be much worse than income inequality.

That said, the document is full of figures that will make your head explode if you are about income inequality. Here are five.

...

http://www.theatlantic.co...on/283206/
Top
supporter
Posted by Amorette F. Allison (+1910) 8 years ago
Yeesh. And I bet they hide a fortune in tax shelters.
Top
supporter
Posted by Gunnar Emilsson (+17660) 8 years ago
Those poor people need to have some skin in the game.
Top
supporter
Posted by Kelly (+2734) 8 years ago
Top
supporter
Posted by mikeh (+308) 8 years ago
I disagree, Amorette. Those 3 billion people aren't hiding anything in tax shelters. They're really that poor.
Top