DAVOS, Switzerland (AP) — The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos.
Thats their take???
The numbers are as follows:
The 1% own 43% off all wealth.
The 5 richest men raised their wealth by 114% in three years.
To offset the difference in rate increase between total 1% and top 5 aswell as the total amount of wealth also increasing with innovation we will pretend this number is a stable 100% increase every 3 years while we actually expect that rate to increase exponentially.
That means in 3 years the 1% will have 86% of all wealth.
If we dont solve wealth equality before 2030 more than 99% of the world will have to share less then 1% of existing wealth. By that time i believe no economy can sustain. People will be better of growing food in their garden and trading with their neighbous.
Which the gov’t will then start taxing because the top 1% will not be taxed at all.
What government? And taxes using what valuta?
When we get close to the 1% owning 99% of wealth i (which we cant know if it really will happen but it can be within 5 years based on oxfams recent numbers) People will have nothing left to pay with, employers and governments besides the 10 “winner” megacorps no institution will have money to afford staff.
There might be still some form employment as part of the corpos private army which may pretend to be a government but i highly doubt people will have to worry about giving up a % of their crops more like there land and lives.
I recognize i am sketching a very pessimistic picture here. I want to note i am equal optimist and pessimist. Maybe before that time the signals will be clear enough for a global wealth tax an ubi. I see many ways for the world to become great or horrible and feel like its important to get a grasp of all possibilities, even the extreme ones. The only thing i can truly say for certain is that change is inevitable.
As a kid i was often told “no one person can change the world” but no one person can stop change from happening either.