Oxfam released a report
yesterday:
Global wealth is becoming increasing concentrated among a small wealthy elite. Data from Credit Suisse shows that since 2010, the richest 1% of adults in the world have been increasing their share of total global wealth. Figure 1 shows that 2010 marks an inflection point in the share of global wealth going to this group.
Almost all of that 52% is owned by those included in the richest 20%, leaving just 5.5% for the remaining 80% of people in the world. If this trend continues of an increasing wealth share to the richest, the top 1% will have more wealth than the remaining 99% of people in just two years, as shown on Figure 2, with the wealth share of the top 1% exceeding 50% by 2016.
It's not a surprise in as much as it is madness. It leads to
ginormous buildings being built in major cities with homeless problems, and only allowing about 100+ billionaires to live there. The report calls for tax loopholes to be closed and maybe crack down on tax dodgers–all of whom can afford to pay their fair share.