latest global income disparity #'s

Discussion in 'Politics Discussion' started by ScooterBrandon, Jan 21, 2016.

  1. ScooterBrandon

    ScooterBrandon Senior Investor

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    http://www.independent.co.uk/news/w...nly-got-richer-since-2000-davos-a6823281.html

    Some really interesting numbers in that article.

    Many board members here would actually quality as a top 1% global income earner (50K USD+ per year) and certainly all of us would be in the top 5%.
    Actually if your a middle-class 1st world retiree, your investments and/or pension plus state income alone should put you ahead of the majority of the souls on this planet.
     
  2. baudwalk

    baudwalk Senior Investor

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    Interesting piece. The >40 comments are interesting too, excepting the usual clickbait "make money from home" crud. There must be some interesting conversations at Davis this year. I would think the Chinese economy and the oil price collapse would be high on the agenda. The BBC has had some interesting videos on the robotics invasion at Davos, giving rise to conversations on how to manage the employment of persons now working in positions that eventually be automated in the next decade or two.
     
  3. djordjem87

    djordjem87 Well-Known Member

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    To quote Leonar Cohen here.

    "Everybody knows the fight was fixed
    The poor stay poor, the rich get rich
    That's how it goes
    Everybody knows."

    The only thing I read here was that only 1 % of the wealth from 2000 has gone to the hands of the poorest 50 %. It is tragic. To put it simply it is like that. I have no smart thoughts on this.
     
  4. gracer

    gracer Senior Investor

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    I also read a similar news report regarding the big difference between the amount of money the rich minority owns over the amount of money the poor majority has. Even if you combine all the money that all average people have, the amount of money the rich people have are far way bigger in the slice of the pie. There is indeed a big disparity but I don't think this kind of trend will change within the next coming years unless maybe the average person would also learn how to invest his/her money.
     
  5. ScooterBrandon

    ScooterBrandon Senior Investor

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    Might need to check yourself mate.
    If you have an issue with this, what have you done to change things?
    Chance are, by virtue of the fact you have enough resources at your disposal to post on this forum, you might be in that global 1% or darn near close to it.
    Have you donated any funds to those stuck in absolute poverty? Have you used your wealth to create anything for them too?
    Perhaps you have, or perhaps my assumption is wrong and you don't have that much income.
    BUT almost every SJW who moans about the 1% are not only part of them, but do little or nothing other then slacktivism.
     
  6. MakeDollarsSense

    MakeDollarsSense Well-Known Member

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    The global 1 percent you might be in if you put a bracket of people making 50k and above as the top 1 percent, but within that percent there is an even more minute group of wealth holders that hold a vast majority of the 1 percent. It's up to everyone to make a change. Corporations aren't the ones making the changes. They exploit people in other countries under the guise that they are giving those that need it jobs, but in reality they are reducing their quality of life. They prey on desperation on people trying to make anything at all even if it's peanuts. These people are so poor that they are willing to work themselves into an early grave just to make a few bucks a day to live off morsels. Pretty sad really. I think that they should increase and enforce the tax rate on the wealthiest since they've been getting tax breaks for quite some time.
     
  7. crimsonghost747

    crimsonghost747 Senior Investor

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    Nice info. I especially like the fact that about £35k qualifies you for the top 1%. Since I always see these posts on facebook etc of people going "we are the 99%!! and we demand change!".. that's people from the western world... people who might not be in the 1% but are certainly very near it if they have a full time job.

    But then again there is the matter of cost of living. You might be in the top 1% if you earn about 46k euros a year. But that minus taxes here... yeah you'll do fine but you won't be rich.
     
  8. briannagodess

    briannagodess Well-Known Member

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    Count me in the poorest, count my country in as well. The saying that the rich get richer is really true, and the poor get poorer. I don't necessarily think the business owners are to blame, they've earned that money from hard work and determination. It's those corrupt politicians who take the people's money into their own pockets that make the disparity worse.
     
  9. eddiemoneys

    eddiemoneys Well-Known Member

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    The disparity between wealth and the transfer of it from those who are not yet poor to the rich is an ongoing thing. It never really stops until its done, and you end up with a slave economy.

    It's happened to other nations before, sometimes being overturned with a revolt and other times staying that way if no one does. The difference is that now, they are doing this on a global scale to a global economy. The end result will be that they create global slaves who will have no chance or choice to escape or defeat the margins that they and future generations are placed in.

    It's almost like your only chance for success and to be ok is to find a way to escape and stay ahead of the weight of poverty and the transfer of that wealth, rather than trying to change how things are.
     
  10. ScooterBrandon

    ScooterBrandon Senior Investor

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    Corruption by the ruling class is a real problem that we all have to deal with.
    But I also don't think wealth disparity and poverty are the same thing.
    You can have a gap between rich and poor without the poor getting poorer.
    By many measure some people labeled "poor" are doing just fine.
    Here in Canada many people who are called poor have very comfortable lives, they have a place to live, food to eat, TV's to watch, computers and phones to play with. They are just called "poor" because compared to others they don't have a lot, but compared to absolute poverty ($1 USD per day) they are quite well off.
    There is actually some data to suggest that while income disparity is growing, the poor are not getting poorer they are indeed getting richer, just not as fast as the rich are.

    It's handy to remember that wealth is not zero sum, it's not static.
    One person getting richer does not inherently mean someone else had to get poorer.
    A riding tide lifts all boats is the common adage.
     

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