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Started by Tinymcsmithy on Jan 3, 2021 1:16:22 PM
500 richest grew $1.8 trillion wealthier in 2020 - number of people living in extreme poverty will be one billion by 2030

The Bloomberg Billionaires Index recorded its largest annual gain in the list's history last year, with a 31% increase in the wealth of the richest people.

The historic hoarding of wealth came as the world confronted the coronavirus pandemic and its corresponding economic crisis, which the United Nations last month warned is a "tipping point" set to send more than 207 million additional people into extreme poverty in the next decade—bringing the number of people living in extreme poverty to one billion by 2030.

https://www.rawstory.com/wealthy/

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Tinymcsmithy - 03 Jan 2021 13:17:41 (#1 of 32)

The 500 wealthiest people got almost $2 trillion richer in the pandemic, which is what the poorest 165 million Americans have earned in their entire lives, combined

And those 500 pay the lowest tax rate of any group in the country

https://mobile.twitter.com/DanPriceSeattle/status/
1345445065615880194

TauCeti - 03 Jan 2021 13:20:20 (#2 of 32)

That's proper and obnoxious profiteering capitalism; 500 earn more than 5 billion, roughly.

Tinymcsmithy - 03 Jan 2021 13:23:25 (#3 of 32)

It’s morally criminal.

Seizing 95% of those assets and redistributing it would be the most socially responsible thing to do.

TauCeti - 03 Jan 2021 13:24:22 (#4 of 32)

Morality is not profitable; same as Honesty.

Tinymcsmithy - 03 Jan 2021 13:25:07 (#5 of 32)

Yup.

Tinymcsmithy - 06 Jan 2021 07:10:12 (#6 of 32)

"Top UK bosses are paid 115 times more than average worker, analysis finds"

https://www.theguardian.com/business/2021/jan/06/t
op-uk-bosses-are-paid-115-times-more-than-average-worker-analysis-finds

col2001 - 06 Jan 2021 07:18:55 (#7 of 32)

If this didn't happen, the sky would fall.

Tinymcsmithy - 06 Jan 2021 07:25:21 (#8 of 32)

Think of all the wealth they create.

Peacock - 07 Jan 2021 11:31:04 (#9 of 32)

trickle down economics, tiny

TauCeti - 07 Jan 2021 11:38:25 (#10 of 32)

Think of all the wealth they create. for themselves.

browserbutton - 07 Jan 2021 11:40:55 (#11 of 32)

I'm just amazed that the Cayman Islands don't sink.

TauCeti - 07 Jan 2021 11:59:25 (#12 of 32)

because it is full of digital bills and notes, rather than real currency i think

Post deleted by user
RosyLovelady - 07 Jan 2021 13:10:22 (#14 of 32)

If these people were required to pay any more tax, they'd all leave the country.

Tinymcsmithy - 07 Jan 2021 19:44:40 (#15 of 32)

Which is fine (after assets have been frozen).

RosyLovelady - 07 Jan 2021 20:17:46 (#16 of 32)

It might depend on which country they're leaving, and in which dismal part of London, sorry remote tropical island, they decide to put down adventitious roots.

Tinymcsmithy - 07 Jan 2021 21:04:27 (#17 of 32)

Orkney.

Anchorman - 07 Jan 2021 21:27:10 (#18 of 32)

property is theft.



unless it's yours ofcourse

AdrianNTierney - 10 Jan 2021 13:54:00 (#19 of 32)

500 richest grew $1.8 trillion wealthier in 2020 ...

Except most of that "wealthier" is just paper profits, mostly created by the inflationary tactics of various governments.

Intowntonight - 10 Jan 2021 14:31:13 (#20 of 32)

and the optimistic expectations of the market.

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