Summary

Oxfam’s 2024 inequality report revealed a record $2 trillion increase in billionaire wealth, reaching $15 trillion, while global poverty rates remain stagnant.

The top 1% own 45% of all wealth, and 44% of people live on less than $6.85 daily.

Oxfam predicts five trillionaires within a decade, citing inheritance and cronyism as key wealth drivers. Elon Musk may become the first trillionaire by 2027.

Oxfam calls for tax reform, monopoly regulation, and income redistribution to address inequality.

Critics warn unchecked wealth concentration threatens democracy and economic fairness.

  • Flying Squid@lemmy.world
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    2 months ago

    Every developed nation should tax these motherfuckers’ entire assets at 99%. If they want to flee with all of their money to Honduras or Haiti or something, let them enjoy that paradise.

    • gnutrino@programming.dev
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      2 months ago

      I mean, the issue is getting all nations to agree to that and making any agreement binding because otherwise the nation that decides to tax them at 98% gets all of the tax revenue…

      • Flying Squid@lemmy.world
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        2 months ago

        I’d be fine with just taking them out of the entire system. Like I said, let them live in a place like Haiti if they want to be rich and keep them out of the rest of our lives. Let them build themselves a Dracula castle in Port-au-Prince.

        • gnutrino@programming.dev
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          2 months ago

          They’re not going to go to Haiti though, they’re going to go to Monaco or Switzerland or Ireland or The Netherlands. That’s my point, for this to work all of the “developed” nations need to agree despite having a massive financial incentive not to.

    • gedaliyah@lemmy.worldM
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      2 months ago

      That assumes national borders mean anything to this class. They travel by private plane and go directly from the tarmac to the car. They don’t even need passports.

  • whotookkarl@lemmy.world
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    2 months ago

    When money is used in society as security for basic rights like a home, food and clean water, healthcare, political representation in government, then people hoarding wealth at the detriment of others are responsible and shouldn’t be surprised when those same people they oppress become violent.

  • CharlesDarwin@lemmy.world
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    2 months ago

    The fact that we even have billionaires (and they should not be a thing. The notion of a trillionaire is even more fucking atrocious) is probably why donvict and elon are assuming power right now.

    Without the broligarchs and their thumb heavily on media, both “legacy” and not, do you think there would be so very many stupid people willing to vote for the convicted felon?

    • brlemworld@lemmy.world
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      2 months ago

      Even if every single person stopped using them. They would still be billionaires, and still be making money by other means.

    • Lemminary@lemmy.world
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      2 months ago

      Unfortunately I don’t have a viable alternative for some goods from Amazon without a good price increase because local sellers up the price on top of the import fees.

      On the bright side, I don’t shop there often and it’s mostly limited to electronics.

  • eran_morad@lemmy.world
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    2 months ago

    I mean, there is a way to cure billionaires and prevent trillionaires. Several cures, actually, some of which are likely more palatable than others.

  • I_Has_A_Hat@lemmy.world
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    2 months ago

    Public trillionaires

    Trillionaires almost certainly already exist. There are many people and families who do not publicly report their net worth. Putin is a good example.