Obscene wealth inequity that only feeds refugees, war, famine, income inequality, injustice, and tyranny. Is it any wonder the world is going up in smoke:
The world’s richest one percent increased their fortunes by a total of $42 trillion over the past decade, Oxfam said Thursday, ahead of a G20 summit in Brazil where taxing the super-rich tops the agenda.
Despite this windfall, taxes on the rich had plummeted to “historic lows”, the NGO added, warning of “obscene levels” of inequality with the rest of the world “left to scrap for crumbs”.
…Oxfam said that the $42 trillion figure was nearly 36 times more than the wealth accumulated by the poorer half of the world’s population.
Despite this, billionaires “have been paying a tax rate equivalent to less than 0.5 percent of their wealth” across the globe, the NGO said.
The 99 Percenters 