So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year. The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014. The 80 richest people on the planet have the same wealth as the poorest 3.5 billion people, the report says. The report comes a day before President Barack Obama is expected to unveil his proposals that close tax breaks on the wealthy. Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.
I think this is absolutely ridiculous. There's nothing wrong with certain people having more money than others or even having a small group of people own way more than most. However, when you have statistics like this, it can be dangerous. Its very easy for that top 1% to own everything and run everything and eventually its very easy for them to rule the entire country. I also don't see how anyone finds this okay. There are many people in this country who are struggling and not because they're lazy or anything but when the gap continues to widen, it causes prices to have to go up, making it impossible the lower class to rise up at all. I'm all for giving back to the community and mainly to people who don't have as much as us because you never know when your action will determine whether they live or not. What happened to people being naturally kind? Many of the Native Americans were very kind and accepting towards the colonists, despite the fact that they were intruding on their property. They gave them food to eat when they didn't have any and helped to house them when they didn't have anything. Its important to keep that mindset if we want this country to succeed.
This is insane! I'm glad Obama is going to try his best to address this problem, and I hope that some changes are made that help to evenly distribute money and make the world a more balanced place.
ReplyDeleteThere have been many jokes about his address how it may be "half assed" , but recently his popularity hit 50%, showing that he is taking actions in favor of the majority I.E. the common middle class.
ReplyDeleteEver since the Gilded Age, we have been divided into classes based on the money we earn. Like the saying goes, "you can't take it with you" and I think that this isn't just an economic issue that Obama will hopefully take care of, but it can possibly cause more social conflicts amongst the rich and the poor.
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