And don't worry, "endless growth" means that you need to get up bright and early today to make them even more!
this post was submitted on 30 Mar 2024
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Oxfam released an analysis saying the top 1% got 63% of all new wealth generated from 2020-2022. According to UN analysis the top 10% own 85% of all the wealth.
According to Oxfam, "an annual wealth tax of up to 5 percent on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year, enough to lift 2 billion people out of poverty, fully fund the shortfalls on existing humanitarian appeals, deliver a 10-year plan to end hunger, support poorer countries being ravaged by climate impacts, and deliver universal healthcare and social protection for everyone living in low- and lower middle-income countries."
Economists say the rising stock market is giving an added boost to consumer spending through what is known as the “wealth effect.”
Read: the economy is re-adjusting to cater to the luxuries of the ultra-rich, not to more efficiently fulfill the needs of the vast majority. So we can't even have that little relief now.