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'Global Oligarchy' Reigns as Top 1% Controls More Wealth Than Bottom 95% of Humanity
(www.commondreams.org)
this post was submitted on 23 Sep 2024
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FYI (and I expect to be downvoted because y'all don't want to hear this), but when an article talks about the "global 1%" it's probably talking about YOU.
Yes, you. And me. And probably most of the people reading this, who live in the US or another Western country and consider themselves "middle class." WE are the global 1%.
From https://www.vox.com/future-perfect/2023/9/15/23874111/charity-philanthropy-americans-global-rich :
Also, if you prefer to measure by wealth instead of income, that's lower than you think, too. I'm having trouble finding a more recent figure, but as of 2018, the threshold to be considered global 1% in terms of net worth was only $871,320. No, didn't typo: it really is only hundreds of thousands, not millions or billions.
(The billionaires are more like the 0.01%.)
This is some wild reverse temporarily embarrassed millionaire bullshit right here.
No matter how many times you repeat this responsability shifting nonsense, it won't ever make the people earning 60k responsible for what billionaires are doing.
Maybe visualising the scale of the numbers being discussed will help you see what a joke your comment is.
(E: fixed link)
Yes, billionaires are bad, but so are you.
You are just butthurt to find out that you are part of the 1% problem.
Except we're not and you're just wrong.
We control our weath. We decided where to spend and where to invest.
We are the baddies.
This has some hardcore original sin vibes. If the argument is that we are bad people merely for existing in this country regardless of our actions, then the argument is in bad faith and is only intended to tear down people who would otherwise wish to help.
Do you buy local grown food?
Do you eat at mom n pops rather than chain restaurants?
Is your furniture artisan or IKEA.
Do you work for a woman or The Man?
Etc.
After you leave home and are self supporting, your sins are your own doing.
Ok my investments have all tanked so I guess I'm an insurgent working to tear down the system from within 🤷♂️
I don't think your shares losing value counts, unless you are the root cause.
However if you are in ESG focused funds then (in theory) you get a pass .