Visual poetry in this case.
Category Archives: 99%
According to Oxfam’s Working for the Few: Political capture and economic inequality, 85 of the world’s richest people own the same amount of wealth as the bottom half of the world’s population.
Expand the focus to the richest 1%, and Oxfam reports they have about $110 trillion in wealth (46% of the total) which is 65 times the $1.7 trillion (about 0.7% of the total) held by the bottom half of the population.
Makes you feel that “The Owner” is not just a Neal Asher dystopian fantasy.
Naked Capitalism has more about Why Strike Debt’s Rolling Jubilee Puts Borrowers at Risk. Serious tax stuff. Not only isn’t this simple, but it actually does seem to carry real risks all around.
I wrote previously of Occupy Wall Street’s plan to buy and forgive distressed consumer debt. A commentator on that post noted that it created a tax issue, and a colleague agreed it was a risk. A fuller treatment of the problem, and some instant revisionist thinking about the ‘Jubilee’ program in general is over at the excellent Naked Capitalism blog, Occupy Wall Street’s Debt Jubilee: A Gimmick with Tax Risk.
Like most of the things they run, well worth a read.