The top 1% own 99% of the wealth in the world

[Frozenbeernuts 1,652]

http://www.cnbc.com/2017/01/16/the-worlds-eight-richest-people-have-same-amount-of-money-as-half-the-world-oxfam.html

 

Eight billionaires from around the globe are as rich as the 3.6 billion people who make up the poorest half of the world's population, according to a report published by Oxfam on Monday.

The report is timely as the global political and business elite gather in snow-clad Davos for the annual World Economic Forum's annual meeting which aims to look at responsive and responsible leadership this year.

The report, "An Economy for the 99 percent", highlights the gap between rich and poor is far greater than had been feared.

 

Companies are structured to dodge taxes, drive down workers' wages and squeeze producers instead of fairly contributing to an economy that benefits everyone," the report said.

 

The report calls for a more "human economy" where markets are better managed in order to ensure no one is left out or denied basic rights. This, Oxfam recommends, can be done by improving co-operation between governments to prevent tax dodging that costs poor countries at least $100 billion a year. In addition to that, the international charity focusing on alleviation of global poverty has called on business leaders to play their part in committing to pay both living wage and their fair share of tax.

[Frozenbeernuts 1,652]

I took a few parts from the article I thought were important. The rest isn't that much longer to read. Anyway, I think it's all well and good to want everyone in the world to have equal opportunity to have a decent living wage, the problem is our government, as corrupt as it is, is probably one of the least corrupt governments in the world. Many poorer countries have held on tightly to the reins of power over the mostly poor of their country. So if we even wanted to filter the money through some of these countries, it would be siphoned off before it even made it to the people the money was intended for.

[TimmySmith 2,782]

What's the problem. I am sure they are all kindly old gentlemen, looking to make the world great. Queue Parrot.

[RLLD 3,455]

Has anyone used the "you're just jealous" attack yet?

[TD Ryan2 314]

Not surprising at all.

We've know for a while now that the majority of wealth is held by a select few.

Of course it can easily "get worse"... remember that time you owned 6 of 7 Continents in Risk? Or every property except the Purples in Monopoly? Wasn't hard at all for you to just take the rest.

[Cloaca du jour 2,065]

8 people own more than half the world combined. Just saw that the other day.

[BLS 313]

I'm all for capitalism, but that's crazy.

[iam90sbaby 2,125]

I'm all for capitalism, but that's crazy.

 

I'm for capitalism too, just not corporate capitalism.

[parrot 789]

What's the problem. I am sure they are all kindly old gentlemen, looking to make the world great. Queue Parrot.

 

You do better against strawmen. Just keep punching your weight.

[IGotWorms 3,319]

Should've elected Comrade Sanders. He gets it

[iam90sbaby 2,125]

Should've elected Comrade Sanders. He gets it

 

Yeah, until you read a economics book and realize it is all a fantasy this guy lives in.

 

Bernie Sander is also a douche. People think he is a nice guy until you see him encounter someone who has a different ideology than him, then he turns into a complete a$$hole.

 

Here is a good example: http://www.realclearpolitics.com/video/2017/01/10/bernie_sanders_vs_business_owner_being_kicked_in_the_teeth_by_taxes_and_regulations.html

[IGotWorms 3,319]

 

Yeah, until you read a economics book and realize it is all a fantasy this guy lives in.

 

Bernie Sander is also a douche. People think he is a nice guy until you see him encounter someone who has a different ideology than him, then he turns into a complete a$$hole.

 

Here is a good example: http://www.realclearpolitics.com/video/2017/01/10/bernie_sanders_vs_business_owner_being_kicked_in_the_teeth_by_taxes_and_regulations.html

That guy was a 'tard. Bernie probably could've been more diplomatic but at the end of the day the guy is just flat wrong.

[iam90sbaby 2,125]

That guy was a 'tard. Bernie probably could've been more diplomatic but at the end of the day the guy is just flat wrong.

 

Does Bernie really care about Americans? Yes. Is Bernie for the most part a nice guy? Yes. I just think his policies are completely un-American. Not that they are bad ideas, they are just more suited for countries that are most socialistic. Good ideas, wrong country. In this country, you rise and fall on your own merit, not here is free this and free that. It sucks to say, but it is true; not everyone is meant to get an education and is sh!tty as it is, some people are just meant to work at Mcdonalds their entire lives.

[IGotWorms 3,319]

 

Does Bernie really care about Americans? Yes. Is Bernie for the most part a nice guy? Yes. I just think his policies are completely un-American. Not that they are bad ideas, they are just more suited for countries that are most socialistic. Good ideas, wrong country. In this country, you rise and fall on your own merit, not here is free this and free that. It sucks to say, but it is true; not everyone is meant to get an education and is sh!tty as it is, some people are just meant to work at Mcdonalds their entire lives.

That's the way America has been historically and that's just fine. I think the problem is things have changed so much that we probably need to change our attitudes and approach as well.

 

I mean when like eight people hold most of the worlds wealth, don't you think it's kinda hard to rise to the top through good old-fashioned hard work and ingenuity?

 

When you've got globalization putting downward pressure on work and wages and now you've got the rising threat of automation which threatens to put damn near all of us out of work, don't you think you need to figure out how people are going to be provided for? Used to be "get a job!", and rightly so. But what about when there are no more jobs?

 

I don't disagree with your viewpoint but I thinks it's backwards-looking rather than forward thinking

[mmmmm...beer 691]

 

Do they own the moon too?

[iam90sbaby 2,125]

That's the way America has been historically and that's just fine. I think the problem is things have changed so much that we probably need to change our attitudes and approach as well.

 

I mean when like eight people hold most of the worlds wealth, don't you think it's kinda hard to rise to the top through good old-fashioned hard work and ingenuity?

 

When you've got globalization putting downward pressure on work and wages and now you've got the rising threat of automation which threatens to put damn near all of us out of work, don't you think you need to figure out how people are going to be provided for? Used to be "get a job!", and rightly so. But what about when there are no more jobs?

 

I don't disagree with your viewpoint but I thinks it's backwards-looking rather than forward thinking

 

Well at that point we become outdated, and what happens to us? Who knows. (seriously though)

 

I think we both make valid points, and one extreme or the other is bad. Somehow we have to find a happy middle ground. What that is? I don't know. But I don't think Bernie is the guy to get us there. Ron Paul is like the conservative version of Bernie and I like to see America go more down that path.

[TD Ryan2 314]

1. Domestication of Plants and Animals

2. The Industrial Revolution

3. The Connection / Information economy

 

The transition from #2 to #3 is happening right now... it's a new era of globalization, connection, and information.

 

How will we provide for the the people?

 

We won't.

Nobody ever has, not really.

The Industrial revolution was the first time anything was provided for the people... but providing for the people was only a secondary goal... the primary goal was to provide for the industrialists... and it did, quite well. And now its over and the industrialists are the only real winners.

 

Going forward, the opportunity for individuals to determine their own fate is greater than ever - more people than ever will be "successful" and more than ever will "fail".

The 1% will expand to the 20 or 30%.... and the rest will be left behind.

 

As much as the industrialists have gained control of everything - they've lost control too. The industrialists had all the control b/c they had all the hard-to-acquire resources and connections... today, the only resource you need is the internet and a computer... and you can easily build connections.

 

There will be winners and losers here... risk takers will be rewarded... and those who truly know who they are and what they're good at will stand out as the experts, the "go to" resource.

[Hardcore troubadour 12,667]

I just think the uber rich don't pay enough taxes. i know they pay a lot, just not at the same rate the rest of us do. If I'm paying 20% federal on what I earn after write offs and deductions, so can they. Not be taxed at 90% like nut jobs say they should, just the same pct as the rest of us, maybe a little more. I'd settle for the same. If they actually pay it, not write off and defer everything. Yeah, like Trump did.

[Filthy Fernadez 2,696]

Go ask a really rich person 'How much is enough?'...........answer is always 'just a little more'. They invest and of course do so that will benefit themselves.

 

Wealthy people make smart choices (usually) and it's silly to blame them for not making choices that are best for themselves financially. Who here doesn't take a deduction that is allowed on their taxes?

 

Poor people make poor choices (usually). As they sit drinking and smoking or toking, pondering why things are the way they are, a wealthy person is investing in cigarette companies and alcohol companies.

[Filthy Fernadez 2,696]

I just think the uber rich don't pay enough taxes. i know they pay a lot, just not at the same rate the rest of us do. If I'm paying 20% federal on what I earn after write offs and deductions, so can they. Not be taxed at 90% like nut jobs say they should, just the same pct as the rest of us, maybe a little more. I'd settle for the same. If they actually pay it, not write off and defer everything. Yeah, like Trump did.

 

What about 'those less fortunate' who not only don't pay taxes but get earned income credit i.e. a check at the end of the year because they didn't make enough? Shouldn't they pay 20% too instead of getting money from the system they didn't earn? Don't they have a responsibility to contribute to our society?

 

Taxes aren't fair; period. You pay 20% but you still take deductions (as do I). The 'uber rich' folks take their deductions just like us and shouldn't have to pay an equal percentage. Just because someone is making much more doesn't mean they owe more to society.

[Hardcore troubadour 12,667]

 

What about 'those less fortunate' who not only don't pay taxes but get earned income credit i.e. a check at the end of the year because they didn't make enough? Shouldn't they pay 20% too instead of getting money from the system they didn't earn? Don't they have a responsibility to contribute to our society?

 

Taxes aren't fair; period. You pay 20% but you still take deductions (as do I). The 'uber rich' folks take their deductions just like us and shouldn't have to pay an equal percentage. Just because someone is making much more doesn't mean they owe more to society.

Just asking for the same rate in the end. Not anything more.

[Strike 3,982]

 

When you've got globalization putting downward pressure on work and wages and now you've got the rising threat of automation which threatens to put damn near all of us out of work, don't you think you need to figure out how people are going to be provided for? Used to be "get a job!", and rightly so. But what about when there are no more jobs?

 

 

 

BIG. Not hard.

[Filthy Fernadez 2,696]

Just asking for the same rate in the end. Not anything more.

 

That's just it. Assuming you make $100,000.00 you pay $20,000.00 They made $200,000,000.00 so they should pay $40,000,000.00 because they're more successful? That's fair? Nope.

[TD Ryan2 314]

 

That's just it. Assuming you make $100,000.00 you pay $20,000.00 They made $200,000,000.00 so they should pay $40,000,000.00 because they're more successful? That's fair? Nope.

so you're against a flat tax?

no same rules, same percentage for everyone?

[IGotWorms 3,319]

so you're against a flat tax?

no same rules, same percentage for everyone?

That's how nuts this dude is. He isn't just against a progressive taxation system, he thinks even a flat tax is unfair!

[Bert 1,092]

Just asking for the same rate in the end. Not anything more.

Take the same risk. Give up the steady pay check and live off your investments, the companies you create.

[RaiderHaters Revenge 3,595]

good for them, I could care less who has money and who doesn't

 

I care about taking care of my family and they don't affect that

[Frozenbeernuts 1,652]

That's the way America has been historically and that's just fine. I think the problem is things have changed so much that we probably need to change our attitudes and approach as well.

 

I mean when like eight people hold most of the worlds wealth, don't you think it's kinda hard to rise to the top through good old-fashioned hard work and ingenuity?

 

When you've got globalization putting downward pressure on work and wages and now you've got the rising threat of automation which threatens to put damn near all of us out of work, don't you think you need to figure out how people are going to be provided for? Used to be "get a job!", and rightly so. But what about when there are no more jobs?

 

I don't disagree with your viewpoint but I thinks it's backwards-looking rather than forward thinking

Yeah the health of spending in our economy is based off of how much the middle class spends. Never mind the billions and billions of dollars that are just sitting there doing nothing.

[Hardcore troubadour 12,667]

Take the same risk. Give up the steady pay check and live off your investments, the companies you create.

If you start or run a business that employs a good number of people, sure. If you're some hedge fund employing very few, no. I don't conflate business with Wall Street. Remember the last time they went belly up? They didn't suffer for taking a risk, did they? So why should they get rewarded?

[Bert 1,092]

If you start or run a business that employs a good number of people, sure. If you're some hedge fund employing very few, no. I don't conflate business with Wall Street. Remember the last time they went belly up? They didn't suffer for taking a risk, did they? So why should they get rewarded?

Oh good lord

[Hardcore troubadour 12,667]

Oh good lord

Thanks for your input. I'm convinced.

[iam90sbaby 2,125]

 

That's just it. Assuming you make $100,000.00 you pay $20,000.00 They made $200,000,000.00 so they should pay $40,000,000.00 because they're more successful? That's fair? Nope.

 

Someone missed math class the day they taught how percentages work.

 

Here man, do yourself a favor: http://www.skillsyouneed.com/num/percentages.html

[Baker Boy 1,485]

2011 stats from the Treasury Department


The top 5% of income earners pay over 50% of all personal income taxes.


The bottom 50% of income earners pay no income taxes.


The top 1% of income earners earn about 18% of all income but pay about 38% of all income taxes.
People who earn over $1 million in any given year account for 0.2% of all taxpayers. They pay 21% of all income taxes collected by the federal government.

[iam90sbaby 2,125]

2011 stats from the Treasury Department


The top 5% of income earners pay over 50% of all personal income taxes.


The bottom 50% of income earners pay no income taxes.


The top 1% of income earners earn about 18% of all income but pay about 38% of all income taxes.
People who earn over $1 million in any given year account for 0.2% of all taxpayers. They pay 21% of all income taxes collected by the federal government.

 

When did the IRS become federal? This is news to me.

[Hardcore troubadour 12,667]

The top 1% aren't the uber wealthy. Woukd like to see the breakdown for the top 1/10th.

[iam90sbaby 2,125]

Also, we need to clarify what the top 1% is. In most states it is somewhere in the 300k range.

 

You hear 1% most people are thinking Rockefeller, DuPont's etc... when that couldn't be further from the truth.

[IGotWorms 3,319]

Also, we need to clarify what the top 1% is. In most states it is somewhere in the 300k range.

 

You hear 1% most people are thinking Rockefeller, DuPont's etc... when that couldn't be further from the truth.

Agreed, it's really the top 1/10th of 1%.

 

I mean Christ, like eight people own half the world's wealth. That's like the top .000000001%

[Filthy Fernadez 2,696]

so you're against a flat tax?

no same rules, same percentage for everyone?

 

ONLY if EVERYONE pays the flat tax. Those 'less fortunate' need to pay their percentage too.

 

Of course then those 'uber rich' people would only draw a small amount for earnings from their company(s) and earn substantially less than they actually do. Then people would just b!tch about that.

 

 

Someone missed math class the day they taught how percentages work.

 

Here man, do yourself a favor: http://www.skillsyouneed.com/num/percentages.html

 

What's 20% of $100,000? $20,000

 

What's 20% of $200,000,000? $40,000,000

 

Do yourself a favor and grab a calculator.

[iam90sbaby 2,125]

 

ONLY if EVERYONE pays the flat tax. Those 'less fortunate' need to pay their percentage too.

 

Of course then those 'uber rich' people would only draw a small amount for earnings from their company(s) and earn substantially less than they actually do. Then people would just b!tch about that.

 

 

What's 20% of $100,000? $20,000

 

What's 20% of $200,000,000? $40,000,000

 

Do yourself a favor and grab a calculator.

You clearly understand how to calculate what a percentage is, I just don't think you understand the concept as a whole.

[Strike 3,982]

Agreed, it's really the top 1/10th of 1%.

 

I mean Christ, like eight people own half the world's wealth. That's like the top .000000001%

 

 

:lol: