We knew that income inequality was bad both in the US and globally, but new evidence shows it’s now worse than ever. 62 people now hold as much wealth as the bottom half of humanity. Ana Kasparian and John Iadarola (ThinkTank), hosts of the The Young Turks, break it down. Tell us what you think in the comment section below.
“The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the world’s population.
Timed to coincide with this week’s gathering of many of the super-rich at the annual World Economic Forum in Davos, the report calls for urgent action to deal with a trend showing that 1% of people own more wealth than the other 99% combined.
Oxfam said that the wealth of the poorest 50% dropped by 41% between 2010 and 2015, despite an increase in the global population of 400m. In the same period, the wealth of the richest 62 people increased by $500bn (£350bn) to $1.76tn.”*
Read more here: http://www.theguardian.com/business/2…
Comments
I feel it living 30 minutes from central London and our capital having the biggest number of billionaires than anywhere else. It’s getting more and more expensive for the everyday folk, almost impossible to survive….The rich get richer and the poor get poorer, it’s been the same for centuries.