In 2010, according to research,the wealth of 388 rich people amounted topossessions of half the world’s population.
By 2014 – 85 wealthy people’s riches is same to half of the world’s population. Today in 2016, research revealed 62 rich individuals own as much wealth as the total wealth of 3.6 billion people.
If this trend of extreme inequality continues, experts say by 2020 – 11 wealthy people could have same wealth as half of the world’s population.
The treasure of the world is rapidly being sucked up by the ultra-rich. Analystsand even the World Bank observes that “trickle-down economics†is only a myth. The rich profess their wealth aids the people, but actually hurts the poor.
Its consequence is extreme economic inequality andincapability that resulted in increased poverty and more social unrest around the world.
Researchers exposed that tax evasion by multinational corporations all over the world costs developing countries at least $100bn every year.
The world needs to challenge governments to collect the taxes they are due for the benefit of all. Our governments are meant to represent our interests, shady financial deals should be curtailed if we are to stop the heightening inequality.
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Tidbits :
Economists, bankers, investment funds and financiers are taking a huge interest in the environmental crisis. They say they can protect the planet their way – with money.
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Evil comes from the abuse of free will!
CS Lewis (By Edgar Allan J. Tac-an)