Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
September 18, 2014

85 Richest People are as Wealthy as Poorest 3 Billion

Derek Thompson explains the numbers from the Oxfam report on global economic inequality. The main finding: The U.S. tops the list in a growing global trend of income inequality.

“The richest 1 percent saw its share of income rise in 24 out of 26 countries for which Oxfam collected data between 1980 and 2012. Again, the story here is the U.S. leading a global trend.”

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The good news: “Global wealth inequality is real. But so is global poverty reduction. Since 1970, the world poverty rate has declined by 80 percent.”

 

  • SCR

    Obviously, the wealthy need more tax cuts to get that money all the way to the bottom.

  • johnholliday

    So in order to punish the uber wealthy the answer is to increase taxes on those making $250K or less? Why not confiscate some of the wealth of liberals, beginning with JayZ and Beyoncé?

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