85 richest people as wealthy as poorest half of the world!!!


I read this interesting article the other day on how wealth is distributed among the world’s population. According to a recent report of Oxfam: 85 richest people as wealthy as poorest half of the world.

That means that less than a hundred people own as much as 3.5 billion people altogether!It seems that capitalism has made a privileged few extremely rich. Let me define here capitalism briefly, before I try to analyse this phenomenon. Capitalism is basically an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Capital accumulation is one of the central characteristics of capitalism – but to this extent?! The Oxfam report is warning us, that clearly, the rich are getting richer, and some are piling up mind boggling fortunes – while the vast part of the population is struggling to get by. Economic inequality surely increases social tension, and Oxfam urges leaders that something must be done to handle the problems arisen. They point out, that the fight against poverty cannot be effective until wealth inequality has been tackled. Rich people are powerful people and they use their influence to steer politics and the tendencies of the economic system in their favour. They have opportunities that are debarred from others. The differences between the social classes are gaping, and and the gap is ever widening…

They have cunning way to evade taxes, but the governments should step up to levy taxes on wealthy people in proportion. The French did try it for example when they imposed a 75% tax on any income over 1 million Euros. That made famous celebrities leave the country, for example actor Gerard Depardieu moved to Belgium to avoid this supertax. Though it might seem a bit too extreme, 75% is a bit too high, isn’t it? But for the rich to dodge taxes is not acceptable. I understand that they work hard to get what they have got, some of them are gifted businessmen and businesswomen – they used the talents they got well. However, some of them are scheming, manipulative predators, who have no limits or morals ( like the types of  J.R. Ewing from DallasJ)  – and have no intentions to give something back to the community. On the other hand some of the richest people are doing amazing charity work (like Bill Gates or Mark Zuckerberg) – and I salute them for that.

I just wish there would not be such huge differences between fellow creatures in this world.

I wonder what others think about this subject? I am looking forward to your comments. Please feel free to share your opinion!

Source: The Guardian