December 8, 2021
From Radical Glasgow (UK)
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                                               Image courtesy of Luxury Launches

           “Ultra high net worth individuals— the wealth management industry’s term for people worth more than $30 million — hold an astoundingly disproportionate share of global wealth. These wealth owners held 6.2 percent of total global wealth, yet represent only a tiny fraction (0.002%) of the world population, based on Institute for Policy Studies analysis of Capgemini and Credit Suisse wealth data and Census Bureau population estimates.

         Inequality is not a natural flow of events, nor is it an unalterable progression, inequality is the result of political and economic decisions. 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. If these political and economic decisions are left to be made by the rich and powerful, then it is obvious how the world’s wealth will be distributed. The results of this power in the hands of the few is poverty for the many.
          Since 1995 that 1% of humanity have grabbed 38% of all new wealth, at the other end the poorest 50% of humanity have gained just 2% of that new wealth. Creating an unbridgeable chasm between the privileged few and the poverty stricken many, if we allow this economic insanity to continue.
          By now it is blatantly obvious that obscene inequality is on a trajectory to continue, unless we take the decision making out of the hands of the rich, powerful and privileged few. We live in a world where there are more billionaires than ever before, with their fortunes growing ever faster than before. While hundreds of millions struggle to survive in extreme poverty. All based on political and economic decisions, we can reverse that inhumanity by taking the necessary political and economic decisions on a community and co-operative basis. We the ordinary people, the real wealth creators, have the right to decide how our wealth will be distributed, with a fair and just system that sees to the needs of all our people.
       Some horrifying facts that should motivate us to bring the existing system down and replace it with justice, and equality.
         According to the latest  World Inequality Report,

        The world’s richest 1% have more than twice as much wealth as 6.9 billion people.
       Almost half of humanity is living on less than $5.50 a day.
       Only 4 cents in every dollar of tax revenue comes from taxes on wealth.
       The super-rich avoid as much as 30 percent of their tax liability.
       Every day 10,000 people die because they lack access to affordable healthcare.
        Each year, 100 million people are forced into extreme poverty due to healthcare costs.
        Most governments fuel this inequality crisis by massively under taxing corporations and wealthy individuals, and at the same time underfunding vital public services like healthcare and education. It is our choice, accept this injustice and inequality or reverse the process by organising, solidarity and direct action to take control of our wealth and our lives.




Source: Radicalglasgowblog.blogspot.com