TPM with some economic stats that would enrage MLK, were he alive - TopicsExpress

TPM with some economic stats that would enrage MLK, were he alive today: The richest 85 people own as much wealth as the poorest 50% of the world’s population — that’s 3.5 billion people. Half of the world’s wealth is owned by 1% of the population. Since the late 1970s, tax rates for the richest have fallen in 29 of the 30 counties for which data is available. This means the wealthy are not only making more but paying a smaller percentage in taxes. Wealthy individuals and companies hide $21 trillion in wealth in a web of tax havens around the world. This exceeds the total GDP of the United States. Global corporations rountinely use their clout to avoid paying taxes in Africa, where poverty is most acute. In the U.S. the top 1% captured 95% of the growth after the 2009 financial crisis. The bottom 90% actually became poorer. -Erika

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