New Report Says Richest 85 People Own As Much Wealth As Poorest 3.5 Billion

opulence*Remember the saying, “The rich get richer while the poor get…” Yeah, that one.

Well, in a recent report on income inequality and which countries around the globe do the least to improve same, the United States reigns supreme. At 26%, the U.S.– out of the 22 countries surveyed — is said to do the very least to reduce inequality, with Poland doing the most at 45%.

According to an article in the Huffington Post Canada, the world’s 85 wealthiest people hold as much wealth as the poorest 3.5 billion, or half the world population, based on a new report from global anti-poverty group Oxfam.

That’s roughly $1.7 trillion for both the 85 richest people, and the poorest half of the planet.

The global economy has become so skewed in favor of the rich that economic growth in many countries today “amounts to little more than a ‘winner takes all’ windfall for the richest,” Oxfam said in a statement.

PovertyTitled “Working for the Few,” the report warns that democratic institutions are being undermined as an increasing amount of wealth is concentrated in the hands of the richest, making it ever easier for them to influence policy to enrich themselves further. The report calls this process “political capture.”

The report comes ahead of this year’s gathering of business people and policymakers at the World Economic Forum, and is clearly aimed to get the forum’s attention.

“In developed and developing countries alike, we are increasingly living in a world where the lowest tax rates, the best health and education and the opportunity to influence are being given not just to the rich but also to their children,” said Oxfam executive director Winnie Byanyima in a statement.

“Without a concerted effort to tackle inequality, the cascade of privilege and of disadvantage will continue down the generations. We will soon live in a world where equality of opportunity is just a dream.”

Read the entire article at Huffington Post.


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