The Hurler On The Ditch

Equality

The emergence of a small group of people increasing their wealth when a large group are struggling is laying the foundation for future problems.

First wealth. A recently released study says that the inequality in wealth throughout the world is extreme and growing more so. The report by the World Institute for Development Economics Research of the United Nations University paints an informative picture of the world's wealth distribution as of 2000, the last year for which figures are available. It states that the top 1% of the world's population - about 37 million adults - had net assets (note: not income) worth at least $500,000. This constituted approximately 40% of the world's assets.

In contrast, the top 50% of the world's people owned a bit less than 99% of the wealth, and this translated into a median wealth (half the world's population having more, half less) of just over $2,000. To be in the top 10% required net assets worth about $60,000.

Remember that the new oppressed are well educated and will not accept this unfairness.

Here, the revelations of recent tribunals and the patent unfairness where the value of a house increases tax free compared with an earned income which is taxed at up to 41% is storing up trouble.

3quarksdaily

posted by Hurler @ 1:51 pm