Inequality - Some Harsh Facts

Oxfam report showing the rich are getting richer and such inequality is contributing to the poor getting poorer. Some harsh (mainly US & UK) observations:

In the UK inequality is rapidly returning to levels not seen since the time of Charles Dickens
$240bn amassed by 100 richest people last year would be enough to end extreme poverty four times over
Accumulation of wealth and income on an unprecedented scale...undermined people ... [to] escape poverty
[Can't pretend] creation of wealth for a few will inevitably benefit the many – too often the reverse is true
In the US, the share of national income going to the top 1% has doubled since 1980 from 10 to 20%,
In the US...for the top 0.01% the share of national income is above levels last seen in the 1920s
Members of the richest 1% are estimated to use as much as 10,000 times more carbon than the average US citizen
World leaders should formally commit themselves to reducing inequality to the levels seen in 1990
Closing tax havens, which the Tax Justice Network says hold as much as $31 trillion, or as much as a third of all global wealth, could yield an additional $189bn (£118bn) in additional tax revenues
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Published on January 25, 2013 06:41 Tags: inequality, poor, rich
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