this post was submitted on 20 Jan 2025
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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.

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[–] [email protected] 23 points 4 days ago (3 children)

Jesus Christ, I'm getting hungry! When do we eat?

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[–] [email protected] 7 points 4 days ago

Resources to be extracted for the public good.

[–] [email protected] 2 points 4 days ago

That shit was unimaginable even before 2024.

[–] [email protected] 115 points 4 days ago (6 children)

These are direct results of the government's failure to govern. The whole purpose of government is to regulate.

Billionaire wealth should have immediately been taxed at the highest historical levels. Now we're past the tipping point and have to simply endure living in an empire as it crumbles around us, while masses of rubes cheer their oppressors.

[–] [email protected] 26 points 4 days ago

Thank Reagan for that

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[–] [email protected] 56 points 4 days ago (1 children)
[–] [email protected] 53 points 4 days ago (1 children)

One billion should have been illegal.

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[–] [email protected] 25 points 4 days ago (3 children)

and yet, no one will stop using their services.

[–] [email protected] 17 points 4 days ago* (last edited 4 days ago)

They have so much money, the services aren't even where they make most of it anymore. Trading and investing are.

[–] [email protected] 4 points 4 days ago (1 children)

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.

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[–] [email protected] 15 points 4 days ago

only way I see an option to not is to live similar to Amish lifestyles in the US, but even then, I assume AWS, Meta and Alphabet can make some money off their existence through satellites and IP cameras

I don't disagree with you and not arguing not to be aware of individual actions. it just seems the situation is more dire than just not giving them our money or data

[–] [email protected] 9 points 4 days ago (1 children)

Compounding interests. I don't think that most people realise how powerful the effect of it is. Anyone can take advantage of it but there's no getting around the fact that the more money you have the easier it gets to make even more which then makes it even easier and this just keeps accelerating.

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[–] [email protected] 51 points 4 days ago* (last edited 4 days ago) (11 children)

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.

[–] [email protected] 3 points 4 days ago (1 children)

They couldn’t flee with everything, most of their assets are things we pay to use every day.

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[–] [email protected] 7 points 4 days ago (2 children)

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.

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[–] [email protected] 10 points 4 days ago (4 children)

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...

[–] [email protected] 11 points 4 days ago (1 children)

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.

[–] [email protected] 9 points 4 days ago (1 children)

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.

[–] [email protected] 0 points 4 days ago (1 children)

Why would they have an incentive not to tax 99% of their wealth when that money would literally be going to them?

[–] [email protected] 4 points 4 days ago (3 children)

Because, as I said, if they instead tax 98% of their wealth then all the billionaires will move there and they'll get 98% of a lot more while everyone else gets 99% of nothing. Until a country works out they could get 97% of all that wealth to themselves and so on and so forth until you get down to the sort of tax levels we actually see. It's just basic game theory in the end.

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[–] [email protected] 28 points 4 days ago (1 children)
[–] [email protected] 20 points 4 days ago (1 children)
[–] [email protected] 3 points 4 days ago
[–] [email protected] 2 points 4 days ago (1 children)

The nice thing with having a list of billionaires - and trillionaires - is that you have a list to go through when the day of reckoning comes, after the American Reich falls.

[–] [email protected] 1 points 4 days ago (3 children)

So like in 100 years? Well I guess that will be nice.

[–] [email protected] 1 points 4 days ago* (last edited 4 days ago) (1 children)

That's the thing about history. I think if you were standing in Imperial Russia in the early 1900s (or France in the late 1780s/early 1790s), you would have never guessed what was coming, even with the chain of catastrophes that seemed to continuously arise from Nicolas being an self-assured idiot.

[–] [email protected] 1 points 4 days ago

That’s also the thing about history, there’s always some dead person to blame everything on while doing absolutely nothing now to stop it

[–] [email protected] 3 points 4 days ago (1 children)

We should be so lucky, we’ll be dead by then. Because it’s going to need to get a lot worse before things change. It won’t be pleasant.

[–] [email protected] 2 points 4 days ago (1 children)

We still have a lot of steps to go. Heck, we haven’t even had civil unrest, let alone civil disobedience. At this rate Civil War II will happen via social network. I guess that lowers the casualties?

Tomorrow will be that round-up in Chicago. That should be very telling.

[–] [email protected] 1 points 4 days ago (1 children)

But it can’t happen on social network.

[–] [email protected] 1 points 4 days ago

It can if we just use emoji.

🖕🇺🇸🔥✝️👎🔫🤑😵🏴‍☠️

[–] [email protected] 2 points 4 days ago (1 children)

Don't despair. The last Reich lasted 12 years, and then (most of) the guilty had some explaining to do, and a lot of them ended up with an acute case of lead poisoning or at the end of a rope.

12 years is long. But if you're younger than I am, you'll live to tell your grandchildren.

[–] [email protected] 2 points 4 days ago

I plan to die in the water wars, not the civil war.

HYDRATION!!!!!! 🔫💪

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