85 against half of humanity

“The richest 85 people in the world have as much wealth as the poorest 3.5 billion – or half the world’s entire population – put together.”

— Alex Andreou, “Trickle-down Economics”

See the Oxfam report:

The report says:
· Globally, the richest individuals and companies hide trillions of dollars away from the tax man in a web of tax havens around the world – it is estimated that $21 trillion is held unrecorded and off-shore;
· In the US, financial deregulation directly correlates to the increase in the income share of the top 1 per cent which is now at its highest level since the eve of the Great Depression;
· In India, the number of billionaires increase tenfold in the past decade, aided by a highly regressive tax structure and the wealthy exploiting their government connections, while spending on the poorest remains remarkably low; 
· In Europe, austerity has been imposed on the poor and middle classes under huge pressure from financial markets whose wealthy investors have benefited from state bailouts of financial institutions; 
· In Africa, global corporations – particularly those in extractive industries – exploit their influence to avoid taxes and royalties, reducing the resources available to governments to fight poverty.

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