22nd Jan 2015
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The rich are getting richer

A report from Oxfam, called Working for the few outlines the extreme disparity between the wealthy and the impoverished all over the globe, and suggests that the divide will grow larger if political action is not taken soon.

Working for the few says that one half the world’s wealth is going to 99 per cent of the population, with the remaining half going to the richest one per cent. Put plainly, the 85 richest individuals are as wealthy as the poorest half of the world.

The report has made clear that the world’s richest are taking advantage of the worsening economic situation of the impoverished, by undermining democratic processes, hiding trillions of dollars away from the tax office and pushing forward policies that promote their interests ahead of everyone else’s.  

However, Oxfam says the worsening inequality can still be reversed. It is advising Australia and other governments to clamp down on tax havens and stop tax evasion. Allowing these illegal practices to continue contributes to developing countries missing out on crucial revenue which helps to fight poverty and push forward economic growth.

As the Australian Government prepares to push forward its G20 agenda at the World Economic Forum in Davos this week, Oxfam will call on the 300 heads of state and government in attendance, to adopt its seven-point plan to tackle issues of economic inequality in a bid to end global poverty.

Read more at The Guardian





    COMMENTS

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    particolor
    26th Jan 2015
    8:56am
    I think You got that wrong !! If Political action is taken it will get Worse !! How do You think we got this far ? Clamp down on Tax Havens ? All Talk !! What took 50 odd years to even say Anything about that ? Are they full of Money now and cant hold any more !!
    MICK
    26th Jan 2015
    10:04am
    Yes. The old 'bootom of the harbour' tax dodge scheme was let run for decades before the government finally had to pull the pin. Why? And then the tax industry said that it was a good run while it lasted and "on to the next scheme". This is how it works whilst average honest Australians are the lemmings.
    AS I keep repeating: vote for Independents. That way the crooked reps will go and things will in time fix.
    particolor
    26th Jan 2015
    11:27am
    They have cleaned out the Bottom of the Harbor Mick !! All the Sharks are coming back !!
    MICK
    26th Jan 2015
    10:00am
    There seems to be an error (?) in the above. 1% of 7 billion people is 70 million people, not 85. Maybe the communication was just poor.
    The issue is not new. The rich always do well because they get their political representatives elected and these people are then 'owned' and have to repay their benefactors. They do this via handouts, tax outs and generally lower taxes.....whilst the poorer people are taxed to the gills.
    The above is the game at hand with our current federal government. The first budget from the Abbott government went after working Australians like never before whilst delivering a company tax cut of 1.5% (the rich operate their business interests through company structures). As if the company tax rate in Australia is not already low enough: the US is 35%, Australia 30% going down to 28.5%.
    So you think that its hard eh? Under this government I suggest that it is going to get a heck of a lot harder.
    MICK
    26th Jan 2015
    10:01am
    Happy Australia Day all.
    particolor
    26th Jan 2015
    11:24am
    :-)
    Virginia
    26th Jan 2015
    11:14am
    Well the rich get rich by working . AND not wasting their money on alcohol and poker machines and looking after what they do have. There will always be the very rich in a democratic country. And the opportunity we have here in Australia is the best in the world; the politics believe it or not are one of the best in the world. Our living conditions are in the best in the world. Our health system is better than most. I am not saying it can't be improved but stop moaning and do something. Often people are their own worst enemy.
    Just go to India or Myanmar or Cambodia. You live in the lucky country and I am not lying.
    particolor
    26th Jan 2015
    11:24am
    Me n Mar will not be going there any time soon !! They probably haven't got any Vegemite ?
    Tom Tank
    26th Jan 2015
    11:52am
    Yes and in India, Myanmar, Cambodia, etc etc there are incredibly rich people effectively living of the slave like conditions of their populations.
    Do you want Australia to become like those countries?
    Our politics at the moment are driving the rich getting richer system strongly and we need to stand up and be counted at the ballot box.
    A good first step would be to do something about political donations by big business as that is a major contributor to increasing corruption of our politics at the moment.
    MICK
    26th Jan 2015
    12:10pm
    Whilst what you state is true Virginia you fail to mention that the rich get much richer because they control politics and because they get special deals....lower taxes and outs for avoiding the tax system altogether.
    We are not talking about a level playing field here Virginia. We are talking about vested interests tilting the table in their favour and then forcing hand to mouth AUstralians to pay. THIS IS WHAT IS WRONG WITH THE SYSTEM WHICH PERVADES WESTERN SOCIETY.
    wally
    26th Jan 2015
    11:26am
    The do gooders want to have it both ways. They want the impoverished people that currently live in vermin ridden pestilential swamps on fish heads and rotten rice to become affluent enough to contribute to pollution and global warming by driving around in cars and using coal fired electric air conditioners in their new McMansions.
    Then they want us to help save the world too, by taxing us all through the nose to fund a carbon credits trading scheme to help the wretches living in poor countries to better cope with climate change. Does this mean the fat cats in these poorer countries will be able to buy air conditioners with the tax dollars gouged out of us in Australia?
    I understand that Lenin started a wealth redistribution scheme in Russia over 90 years ago and that wound up causing a lot of misery and famine for millions of Russians then. Short of starting a revolution like Lenin did, I do not think much will happen except another talk fest.
    particolor
    26th Jan 2015
    12:12pm
    Whens the next G20 Meeting ? I want the Crayfish Contract !!
    MICK
    26th Jan 2015
    12:15pm
    You sound like Frank and all of his aliases wally. Are you Frank?
    Your rant is a bit of an oxy moron from what I can see and your view of the world in the conservative (Liberal Party) view that its all mine. Sad really.
    Your statement about carbon credits misses the point that the planet needs to change if the species os to survive. This is point which is lost on you and many like you wally: you are only capable of seeing the 'now' and you cannot see that the future is going to be any diferent. That is truly sad because it means that you are selling out your descendents.
    wally
    26th Jan 2015
    12:16pm
    parti, I hope you are not trying to rid yourself of a case or two of crabs!
    wally
    26th Jan 2015
    12:23pm
    mick, your rant in response to my "rant" fails to address the questions I pose regarding how we solve third world poverty without increasing pollution that higher standards of living in those countries would create? As far as the planet's need to change, it has always changed and will continue to change regardless of what your climate guru Al Gore has to say about it. If you are so keen on saving the planet, you can do you little bit and turn off your computer.
    particolor
    26th Jan 2015
    12:24pm
    No I'm saving them for the next Liberal Party Conference !!
    wally
    26th Jan 2015
    12:37pm
    parti, can you make sure they are full of salmonella?
    particolor
    26th Jan 2015
    12:48pm
    No Your Fish Heads and rotten Rice put Me off !! I'm getting out of the Catering Business !!
    MICK
    26th Jan 2015
    3:57pm
    Oh to have the magic wand wally.
    Whatever way you look at this issue there only ever appears to be 2 solutions:
    1. populations cannot continue to increase without the predictions of Malthus coming to pass. ie., we will eat ourselves out of existence and detroy what we treasure. Or putting it another way: 2 legged rabbits!
    2. clean energy HAS TO COME. The only question is when will the fossil fuel's ownership of politicians end and how long will it be before even corrupt pollies cannot ignore the bleeding obvious any longer.
    I would like to think that I can do what many others either cannot do or just refuse to do: look 100 years into the future and see where we are headed. It ain't pretty!
    wally
    26th Jan 2015
    5:52pm
    mick, I agree that a magic wand would be most useful, but until we can find one, it would appear that we will have to rely on the boffins of science and technology. As far as clean energy is concerned, it appears to be as elusive as the "perpetual motion machine" and that we will have to make do with what appears to be the lesser of all evils. Hyrdo electric, solar, wind and nuclear power systems all have their pros and cons, depending on geographic/topographical features in siting them to the greatest advantage.
    MICK
    26th Jan 2015
    10:13pm
    I have to respectfully disagree with you wally. Queensland electricity was I believe 25% from renewables and the cost of power has driven down use. The dirty producers of electricity were so worried that they along with the coal industry helped put this government into power. The first thing it set out to do was to repeal the Carbon Tax...which from all accounts was starting to work as designed.
    There is ample scope for green energy. I produce one third of my needs from my roof and there is no reason why as a society we cannot all do this, and more given the price of installations going the same way as colour TVs have over the past 15 years.
    The one point which keeps coming up from the coal funded trolls is base load. After dark??? But that one is fasr disappearing as storage batteries are already in production and the electric car industry is moving this along nicely.
    So wally it comes down to will power and locking the fossil fuel vested interests out of governments. Not too hard really and this is not rocket science.
    My prediction is that by the end of our lifetimes we will all be asking WHY it did not happen sooner. It should be and would be if not for corrupt government by those who were elected by the population but who serve their business bosses. And you wonder why I come down so hard on the currect disreputable lot.
    wally
    27th Jan 2015
    10:47am
    What I do think after we are all dead and gone is that people will scratch their heads and wonder what all the fuss was about over the renewable energy vs nuclear power debate that is going on now. I suspect that they will be using nuclear, solar and wind powered generators that will be modified and improved upon to remove dangerous and objectionable features between now and then. Also technology will also render most, if not all, the nastier side effects of using fossil fuels as well.
    We should have more faith in the "nerdy" kids that will grow up to spearhead these technological advances in power generation.
    Polly Esther
    26th Jan 2015
    11:48am
    Life isn't as serious as the mind makes it out to be......so?
    MICK
    26th Jan 2015
    12:19pm
    'She'll be right Fred'??????' Or is that 'who gives a tinkers'? It must be nice to not have a care in the world.
    I live in the understanding that we are all but custodians of the planet, a concept many amongst us find foreign and incapable of comprehending...until the water is around their knees, the oceans are dead and the air we breath is toxic with temperatures much higher than they now are.
    wally
    27th Jan 2015
    10:50am
    I would hope to find the happy middle ground between paranoia and a fool's paradise.
    Polly Esther
    27th Jan 2015
    12:13pm
    Jeepers Mick, settle mate, you go off and have a nice calming holiday that I hear is coming up soon. Sounds like you need one, all the best.


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