Candid Discussion

‘World’s richest 1% get 82% of the wealth’, says Oxfam

Let’s open a candid discussion about the ever-widening wealth gap
… whether these Oxfam figures are accurate or not
it highlights the issue that most avoid – that
42 individuals have as much as the poorest half of the population!

How can this be so, sure they may have worked harder, grabbed opportunities others didn’t see but how is this in any way fair? They claim we live in a democracy but with this wealth imbalance most don’t stand a chance.

Many enjoy comfortable living standards so they don’t wish to address the issue, feeling safe in their comfort zone not conversant with those who have far less. Many in the western world have trouble paying their daily bills as they try to keep apace of societal expectations to get that degree and often the second one; ‘own’ a house; raise a family; travel abroad, etc.

And the mass poverty in too many countries is un-comprehensible for those mentioned above as people live in a bubble, avoid noticing the homeless; those unable to afford basic health services; going without food to pay the rent …

None of us ever get a glimpse into the life of these billionaires, we really have no concept of how they live. Frankly I’m not so interested I just wish that they would choose to share more of their wealth! And lets face it with that excess sharing a few billion wouldn’t even put a dint in their savings. Yes there are those currently advocating philanthropy but if more could get on board surely some of our major problems could be resolved?

I doubt any of that one percent will read my obscure blog but it doesn’t mean we can’t dream … please share your thoughts and ideas around this topic?

PS  here is proof of how wealth blocked a sugar tax in Australia …

and how politicians raped taxpayers for a dud coal mine!

Candid

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34 comments

  1. My mother used to begrudge the money government spent on going to the moon. I never could quite get with her because it wasn’t as if the astronauts were taking the money to the moon and leaving it. No, it was all being paid out to people as wages for their knowledge, labor, and time. That’s a little like I feel about rich people. They have billions, but what are they doing with it. Bill Gates and Mark Zuckerberg can only spend as much money as they have time for anyway – most of their money goes to government, employees, charity, or investments, even if they buy every personal thing they want. And what if they want airplanes and diamonds. Someone is getting paid wages for providing those things too – just as someone is getting paid wages to provide bread and meat for me. The world would be bad off if they lived on my employees, charity, and investments. I’m a consumer not a provider but if we did not have providers, I would have not have anything to consume. Of course, there is government who could take all the riches and give me what I need. I spent most of my life consuming via government – and still am. Great waste and no accountability! Not my choice. My candid thoughts. 😀

    Liked by 1 person

  2. I’m afraid those figures are accurate (I’ve read Thomas Piketty’s book Capital in the 21st Century, where he demonstrates this in great detail). Personally I don’t mind a bit of inequality. If my boss makes 20 times as much as I do, I can live with that, but now it has gotten totally out of hand, with these folks hoarding so much of the wealth that others are starving and there isn’t enough for essential investments like infrastructure and education.

    Liked by 1 person

  3. Calmkate, Nimorino’s statement is the kind I question. How do the rich “hoard” money? Do the rich really hoard money? I always think of them as buying stuff or making investments or in some way using the money to make more money. I hear that some have stashed it in other countries to avoid taxes. But do they just leave it there. Surely they take it out to do something with it. Back to my question, “How do they hoard it?” I’m not challenging, I want to know.

    Liked by 1 person

    • Oneta Nimorno is right as they can’t possibly spend it all so they stash it in offshore countries with false companies and directors where it sits merely to avoid paying taxes which would spread it around more. It’s both devious and miserly …

      Liked by 1 person

  4. There several essays I’ve read recently on this, and it leaves me with heart ache. It is no real comfort that a few well known ones give away a third to something meaningful every year, or that some of the young buisiness types adopt a project overseas, all good, but in fact it annoys me that it is a percentage, and they can choose to do that, while it is also working symptomatically, rather than dealing with root causes. The gap is leading to a crisis, that some people will be beyond law and leadership just by company power and personal wealth, and I see signs of that already.

    Liked by 2 people

  5. The gap is widening. 😦
    Also, been amazing to me( in my lifetime) that millionaires are no longer a big deal. You have to be a billionaire to be on top.
    Also, a bummer as to who foolish most governments are with the people’s money. 😦
    (((HUGS)))

    Liked by 1 person

  6. This is just in time Kate…we have revised tax law here and though our government insist that this is pro -poor i personally believed it isn’t. This revised tax will basically make the rich richer and the poor poorer..

    Liked by 1 person

    • thanks for the read and comment Walter … I also doubt that they would spread the wealth but my strong suggestion is that they need to ensure that the masses have their basic needs covered because as the divide grows and with their needs unmet it could become ugly …

      Like

  7. There are some ultra rich multibillionaires that give a way a fortune ( the Zuckermans, the Gates and numerous others. They follow in Carnegies footsteps who said ” the man who dies rich dies disgraced). I don’t think the problem lies so much with the mega rich but the layer underneath. It is estimated that rich people give away 10% of their income to charity annually where most of us give 3%.

    I personally think that a redistribution of wealth should happen via death duties. This has ugly connotations for those of us that can remember when Australia last had death duties and the assessor would come asking to see the deceased’s wrist watch etc. It could be done in a much more reasonable way.

    I also think that companies should pay taxes. I know the arguments – they expand, employ and generate but I think they could pay more than what most pay now.

    I’m all for a health system which is means tested so the wealthy pay their own insurance and the government pay those that can’t afford it on a sliding scale putting the person into a health fund of their choice so when it comes to hospitalisation and medical treatment there is no discrimination as no-one knows who paid the contributions.

    I think generally we have to be educated about what tax does. I don’t see there is any shame in borrowing money. We all do when it comes to buying a house. The government cuts back on services to those that need them most because they don’t want to put up taxes, they leave infrastructure because they don’t want to borrow money. In reality – they should be acting as a parent and looking after those that can’t look after themselves.

    Given all that the gap is growing between rich and poor and already the ultra rich are paying for things the government should be looking out for. I think we will just have to hope for more and more rich people to join the ranks of the philanthropic ultra rich.

    Liked by 1 person

    • some really excellent points here Irene!

      Death duties for those with excess; company tax which we’ve just abolished completely?? Sliding scale for health care; and more infrastructure for those in need, thanks for participating 🙂

      Liked by 1 person

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