The top 1% of households own 43% of global wealth, 10% owns 81%, while the bottom 50% have just 1%

The top 1% of households globally own 43% of all personal wealth while the bottom 50% have only 1%. The 1% are all millionaires in net wealth (after debt) and there are 52m of them. Within this 1%, there are 175,000 ultra-wealthy people with over $50m in net wealth – that’s a miniscule number of people (less than 0.1%) owning 25% of the world’s wealth!

The top 1% of households own 43% of global wealth, 10% owns 81%, while the bottom 50% have just 1%

$427 billion lost each year to tax dodging by corporations and the rich: landmark study

$427 billion lost each year to tax dodging by corporations and the rich: landmark study

To ensure countries around the world don’t continue to lose hundreds of billions of dollars each year which could go to strengthening their public health, infrastructure, and education systems, the Tax Justice Network said, governments must promptly take three far-reaching actions:

– Introduce an excess profit tax on multinational corporations making excess profits during the pandemic, such as global digital companies, in order to cut through profit shifting abuses.

– Introduce a wealth tax to fund the Covid-19 response and address the long term inequalities the pandemic has exacerbated, with punitive rates for opaquely owned offshore assets and a commitment between governments to eliminate this opacity.

– Establish a UN tax convention to ensure a global and genuinely representative forum to set consistent, multilateral standards for corporate taxation, for the necessary tax cooperation between governments, and to deliver comprehensive, multilateral tax transparency.

Times Editorial Lets Slip Joe Biden’s Latin America Policy: More Obama-Style Coups

Times Editorial Lets Slip Joe Biden’s Latin America Policy: More Obama-Style Coups

What the authors are referring to is a continent-wide campaign to unseat progressive leaders that ended in the jailing of Brazilian president Lula da Silva, the impeachment of his successor Dilma Rousseff, and the rise of the far-right authoritarian Jair Bolsonaro. The so-called Operation Car Wash (“Lava Jato” in Portuguese) was ostensibly an attempt to root out corruption at all levels of society. Yet leaked documents and recordings have shown that, from the beginning, it was a naked powerplay attempt by Brazil’s rich elite to retake control of society from the progressive Workers’ Party administrations through legal means.

NYT: Biden’s Plans for Latin America: End ‘Bully Dictating Policy’

Mr. Biden’s advisers say they would seek to revive the anti-corruption campaign that set off political earthquakes across the Americas starting in 2014, but largely stalled in recent years.

Related:

How the United States killed Brazil’s Democracy. Again.

Remembering Che Guevara on the 53rd Anniversary of his Death

Remembering Che Guevara on the 53rd Anniversary of his Death, by Yanis Iqbal

On 9 October, 1967, Che Guevara – one of the greatest revolutionaries ever known – was murdered in Bolivia under the orders of Washington. This death was foreseeable. In 1966, Che Guevara had left Cuba to wage an anti-imperialist struggle in the South American nation of Bolivia. The plan was to establish a mother column led by Che in Bolivia, with further guerrilla columns branching out from the main unit to enter the neighboring countries of Argentina, Brazil, Chile and Peru, thus creating a continent-wide revolutionary front. This anti-imperialist plan of action was based on the way Vietnam heroically resisted the full-blown onslaught of American hegemony. As Fidel Castro put it, “In the same measure in which Vietnam resists, the revolutionary liberation movement will grow in other parts of the world. Other fronts of the struggle for liberation will open throughout the world in direct proportion to Vietnam’s resistance.”

Related:

Che Guevara and the CIA in the Mountains of Bolivia

The Death of Che Guevara: Declassified

The unpublished photographs of the Death of Che Guevara

The hypocrisy of the “libertarian” anti-communists

The hypocrisy of the “libertarian” anti-communists

My comment:

Great article! Thanks!

I once, briefly, thought of being a libertarian, until I started researching foreign policy and the countries that America targeted.

While there are antiwar libertarians, many of them still support color revolutions. Even libertarian think tanks have been behind them, such as the Atlas network, in Latin America.

Another thing that I couldn’t relate to, was their hatred for the “welfare state,” which includes Social Security Security and Disability. They seem to think that charity should take care of the elderly and disabled. Very disheartening for a disabled person, such as myself!

I also really hadn’t known the history of the Libertarian party.

I still don’t know what to label myself, politically, but I am still learning. 😀