46% of wealth is held by 1% of people
That username
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Don't know if this has been posted.
http://in.reuters.com/article/2013/10/09/creditsuisse-wealth-idINL6N0HZ0MD20131009
Seems shocking.
http://in.reuters.com/article/2013/10/09/creditsuisse-wealth-idINL6N0HZ0MD20131009
Seems shocking.
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Comments
There was a link some time ago I think on the BBC.
There you go http://www.globalrichlist.com/
That is very true and agree with you to a point, but ony a very few people seem to be doing well or able to do well
Well only so much money not everyone can be successful and wealthy.
Having money may not mean a happy, carefree lifestyle.
It means eating though.
Inequality is engineered. The mega rich employ lawyers and lobbyists to ensure that laws are written in their favour and inevitably, the little guy gets shafted.
....and pay 30% of all taxes .Very disproportionate too
If you are on minimum wage the majority of your income goes in tax including VAT and the like. There is a reason people with all the money pay most of the tax because they have all the money. You cant pay tax on what you dont earn.
That link shows anyone earning the UK average salary is in the top 0.88% of the worlds wealthiest.
Just £15000 p/a puts you in the top 4%
ETA even those on minimum wage are in the top 5.4%
Unless those on minimum wage are spending all their money on cigs and petrol, I'm not sure you quite understand what " majority" means.
Not that im aware of. Look at this ridiculously short-term trend:
http://dadaviz.com/i/2896
And this graphic even more telling of current situation:
http://dadaviz.com/i/2887
There'll be one. Sooner rather than later.
Are you serious? If someone put £1M in my bank account tonight im pretty certain i can double it within 3-4 years, and pay next to no tax in doing so. And a chimpanzee could do the same. Being rich isnt a skill, unless you count the skill of affecting govt laws and policies to stack the odds even more in your favour.
If i could find a figure to quote I would but I saw a bbc documentary that broke down the wages and taxes that the average person on a low wage was spending and yes believe it or not people on low wages spend all their money, every month and big parts of their expenditure is petrol, cigerettes and alcohol along with other things obviously. So they end up with the majority of their wages (apart from rent) going on tax
Maybe the skill or whatever you want to call it is getting the £1M in the bank in the first place.
I doubt most of them just had "someone put £1M in"
Sort of like all the City "w*nker bankers" who thousands & thousands of were earning £1M+ a year....... every year. They weren't very skilful! Unless trading in bad debts (sub-prime mortgages etc) and bringing the world economy down is a skill? And they're all still rich and earning good money.
A smaller chunk will be fed into the economy daily through increased spending. Most of us might only spend a couple of hundred quid a month on our shopping. A wealthy person might spend ten times that. So ten times as much VAT going to the government. They also help keep a lot of highly skilled people in work by demanding high quality goods.
That's how it was meant to work in theory, the trickle down effect. However, 30/40 years later, that's not how it's panned out. There was a good programme about this on BBC recently, The super rich and us. It was over two parts. Definitely worth a watch if you can still get it on the iplayer.
Why?
Really? When?
Tried the link. Interesting.
A Colombian farmer on 12 million pesos a year (£3329) after tax is still in the top 20% of incomes (16.13%)
In fact to get into that bottom 50% that only owns the same as the top 1%, then your net income needs to be below £1000/year. Even then at £1000 you only just make it.
The Oxfam headline may be true, but it is a comparison between countries. None of the 50% of lowest incomes live in the UK, Western Europe, North America or Australia. I suspect that many of them are Chinese, Indian and Russians.
You state that as if it were a level playing field and that everyone has had a fair opportunity to succeed.
This debate always brings forth the deluded who've swallowed the idea that he very wealthy are there because they deserve to be.