Is it true that 80% of the world's wealth in the hands of 20%?

[Sithara007]

Wealth redistribution never works and the perfect examples are that of Cuba and Venezuela. Despite numerous failed examples, populist politicians continue to demonize the wealth creators and propose socialist policies for the financial sector. Here in India, the income tax rate for the highest slab was recently reduced from 42.74% to 39.00%. Immediately there was an outcry from the welfare rats, claiming that the government is favoring the rich. And most of those who were complaining were the ones who engage in tax evasion, using the farmer loophole (farming income is tax-free in India).

[1715621008]

1715621008

[el kaka22]

I wish, 80% of worlds wealth is in the hands of very tiny portion, like 1%, that is the issue that we are having right now and why people are so much angry at the top. When you say you should tax all these companies that make billions in profit, liberals go against it and say that it is an achievement and we shouldn't be charging them for being successful.

But, the fact is that we can't keep supporting these rich folks getting richer forever, we need to do something to close this wealth gap one day, otherwise there will be a few wealthy people and billions in poverty, and we are already getting there pretty quick. Tax the rich, and not just people, the companies too.

[Smartprofit]

Scientists-futurologists are seriously discussing the scenario of the development of Mankind, in which it will be divided into two completely separate biological species of people. 

This is due to the fact that with the further development of technology and the achievement of the technological singularity, rich people will be able to use the full power of technology to dramatically improve their lives. 

With the help of new biotechnologies, they will be able to defeat all diseases and achieve personal immortality.  With the help of the latest quantum computers and powerful neural networks, they can easily solve any problem of controlling another "lower" kind of people. 

In fact, this is a dystopia, which, nevertheless, can be embodied in our reality. 

And this will lead to an even greater (by orders of magnitude greater) gap in the level of well-being between the poor and rich inhabitants of the planet Earth.

[inthelongrun]

This is the case ever since the history of mankind. Greed and power. I am not even expecting 20% since I thought that it is only 5% or lesser who controls the world's wealth. I remember when the world's richest billionaires are planning to redistribute most of their wealth and only left a few percent to their descendants but then another certain billionaire disagreed. That billionaire said that they are not supposed to scatter money to unproven people and instead they should continue to make more business and build their empires. It sounds greedy but there's also a point. Middle-class and poor people have different mindsets, unlike those billionaires.

[Fortify]

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated  in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

What governments can do to make it more equitable?

I fear that the balance has drifted much further away from this in the 5 years since the report was created. Money makes more money is the fact, these billionaires are hoarding their massive wealth and if they have it diversified will be accumulating much more each year with almost no effort at all - in the form of dividends, or companies paying out their profits to shareholders. It's very hard for governments to push back these days and requires every country pulling together to tax them at much higher rates. Frankly, the capitalist model is the best we have but there becomes a point where a single person does not need millions of times greater amounts than the average person just sat in their accounts doing very little.

[usekevin]

The accumulation of the assets is the reason for this report output.But the poor people from various developing countries was suffering lot for the foods and basic needs.This will be due to all the money was holding by fifty percentage of the total population.Remaining people only hold of 2% of the total money.So they suffer without livelihood.To short this out,the people of poor countries should do their graduation fully and start to earn from their job to fulfill their basic needs.Then in their next generation,they will move to the upper class for sure.

[carlfebz2]

The accumulation of the assets is the reason for this report output.But the poor people from various developing countries was suffering lot for the foods and basic needs.This will be due to all the money was holding by fifty percentage of the total population.Remaining people only hold of 2% of the total money.So they suffer without livelihood.To short this out,the people of poor countries should do their graduation fully and start to earn from their job to fulfill their basic needs.

Lets just embrace the reality and this had been a common problem even into those early age on which money equality cant really be that possible considering that there would be always those people who would

really be sitting in the top of the chain.The more the money they do have the more power and authority that they could gain which it isnt surprising.This is why as an ordinary person then you should thrive your
very best on finding various sources of income,. it doesnt matter if it would be in online or would be offline.

As long you could be able to handle and make yourself that sustain and survive on daily living.Dont mind about equality but rather mind your own.

[CoinEraser]

Without need to look the studies and statistics, I think everyone know if the wealth gap between the poor and middle class with upper class are extremely far.

I can only agree with that. Each of us has certainly noticed these differences at some point. Except maybe the super rich, who walk through life blindly and are not interested in other people. 

The poor and middle class aren't trying hard to become rich, because their mind are mostly want to earn a lot money via instant which actually impossible! majority of the people this group are spent their money to buy branded stuffs in order to get respected by many peoples. Do you know which one is selling the branded stuffs? it's the upper class!

Unfortunately, this statement is also true. The chances of getting rich quick are really slim. Sometimes you can make it, with a lot of work or with a lot of luck. But still only a few make it. Most make just enough money to survive but never get rich.

The upper class already have a lot business, they're also make a lot money from stupid poor and middle class, so it make them can expand their business become bigger and bigger.

Unfortunately, this has always been the case in human history. The rich get richer and most of the poor stay poor. In order to change this system, much of our planet had to be changed and I don't think it will ever happen. Before that, it can happen sooner that humanity dies out than this system will change. 

[Ludmilla_rose1995]

if we look at the list of the 10,000 richest people in the world, they all have large business networks that control their respective countries. in my country alone there are many rich people who have many businesses and the consumers are middle and poor people. since a long time ago, this world has been controlled by some people and we don't realize it.

[Wong Gendheng]

if we look at the list of the 10,000 richest people in the world, they all have large business networks that control their respective countries. in my country alone there are many rich people who have many businesses and the consumers are middle and poor people. since a long time ago, this world has been controlled by some people and we don't realize it.

The same thing happened in my country, almost all economic sectors of agriculture, plantations, mines, property, etc are controlled no more than 1% of the population, of course this is a sad thing, especially the state looks helpless with the rich so that when there is a conflict then there is a conflict then those who always win.

[Moeda]

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated  in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

What governments can do to make it more equitable?


https://wir2018.wid.world/

If a country adheres to a democratic system, I think it is very difficult to overcome economic, social and political inequality. A president will be elected if supported by sufficient finances. They have to pay a high price to become a president. Of course these costs will be supported by a handful of people, or often said by co-financiers. Thus the state system will be controlled by oligarchs who have an interest in it. So that economic equality will be difficult to overcome, social inequality continues. Maybe every country has different problems, of course we will understand the problems that occur in our country. Not to mention we are talking about divisions between supporters of various presidential candidates who attack each other by spreading negative issues.
Another case with countries that adhere to the royal system. There are no political issues that extend to the community. But they are more internal to the kingdom. This concept will be more effective in overcoming social, political and economic inequality. There is no commotion created between people in a country from political effects. Maybe we can look at countries that adhere to the royal system, and compare it with countries that adhere to a democratic system.

[AicecreaME]

<...>
The upper class already have a lot business, they're also make a lot money from stupid poor and middle class, so it make them can expand their business become bigger and bigger.

LOL.

Poor and middle class people are not stupid, rich people only have too much privilege in their life that's why. Also, rich people are taking advantage of those who are really in needs by giving them jobs that doesn't even pay well, so that they could earn more, I don't see any justice in that. If you think rich people are smart because they have a lot of businesses but doing something dirty in the shadows, I pity your judgement then.

[ancafe]

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated  in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

It is the main thing that makes wealth concentrated in the hands of a small population because of family factors, they inherit these companies and businesses (wealth) to their children, that's why they are only concentrated in a small part of the population. For this problem I think it has nothing to do with a democratic system of government.

What governments can do to make it more equitable?

The government's job is to provide guarantees for its people, these guarantees are concentrated in the ability of the people themselves, meaning that the rules apply to everyone and to make them fairer are these rules, but they cannot control everything individually. Completely surrendering to the government is the style of people who have no ability to manage their lives.

[fenixosup]

The majority of people just don't have enough IQ to have a lot of money

[Inwestour]

The accumulation of the assets is the reason for this report output.But the poor people from various developing countries was suffering lot for the foods and basic needs.This will be due to all the money was holding by fifty percentage of the total population.Remaining people only hold of 2% of the total money.So they suffer without livelihood.To short this out,the people of poor countries should do their graduation fully and start to earn from their job to fulfill their basic needs.

Social inequality is very widespread around the world, and it will be difficult to change. I read in one of the books, if I am not mistaken, the author was Robert Kiyosaki, so he wrote that if you take for a group of people and distribute the same amount of money to everyone equally, then after some period everything will return to its previous position, some of the people will accumulate funds, some will become poor and a middle class will appear.

It is difficult to say why this happens, even if conditions are equal at the start. I guess it depends more on the person's education. From the ability to handle money, the ability to save and invest it so that it works and generates income.

And those who spend everything they earn are deprived of a chance to change something in life. If there are no savings and a person gets sick, then he will not even have money for treatment, then there will be debts and it is much more difficult to get out of this situation.

[BRINIRHA]

actually this is a fact that is clearly visible to our own eyes at this time. the comparison could even exceed what the OP mentioned. as a simple example, a rich businessman can even have hundreds of thousands of employees under him. because this rich entrepreneur has many factories in almost every region in a country. even in several other countries as well. Just by looking at this simple example, we can see quite a comparison between bosses and employees. and of course the wealth of the boss is very much different from the wealth of his employees. then we can look at the comparison of per capita income of a developed country and compared to developing countries or below. then you will see a very much different comparison.

rich people have the opportunity to have more profits because they have far greater capital. so that their wealth continues to increase rapidly. and this continues so that the gap between the rich and the poor is becoming more and more different.

[19Nov16]

I believe that less than 5% of the world's population controls the wealth of the world, in many countries there are frequent demonstrations demanding economic improvement because the demonstrators say that a few percent of the country's wealth is controlled by citizens, even foreign investors, and look at some of the world's top companies that have very many business units so that they can control the wealth of the earth.

[visionE2]

<...>
The upper class already have a lot business, they're also make a lot money from stupid poor and middle class, so it make them can expand their business become bigger and bigger.

LOL.

Poor and middle class people are not stupid, rich people only have too much privilege in their life that's why. Also, rich people are taking advantage of those who are really in needs by giving them jobs that doesn't even pay well, so that they could earn more, I don't see any justice in that. If you think rich people are smart because they have a lot of businesses but doing something dirty in the shadows, I pity your judgement then.

Yes, I agree, many poor and middle class people are oppressed, different from rich people who have a lot of authority. that's why justice is hard to uphold. We cannot blaspheme them, because thanks to the ideas and systems that the rich (big corporations) create, it facilitates the world economic system and the progress of civilization is also thanks to them with global finance. What we can hope for is that they still have a conscience, for humanity.

[browsiek]

But, the fact is that we can't keep supporting these rich folks getting richer forever, we need to do something to close this wealth gap one day, otherwise there will be a few wealthy people and billions in poverty, and we are already getting there pretty quick. Tax the rich, and not just people, the companies too.

social inequality in various countries is very uneven, even in developed countries the gap is uneven.  the rich prefer to exploit the poor by employing them at relatively low wages, especially in factories where the working hours are longer but the wages received by workers are very small.  So I believe that there are only a few rich people in this world, the rest are poor people who make money from the rich.

[palle11]

I think the percentage of rich people in the world should even be lesser than 20%. If it were like 20% then the margin is not so distant like expected and these days with the crunch of hardship, the margin is getting wider. The economic downturn is not really affecting the rich because jobs are taking away from the poor while the rich is reinvesting the suppose salary of the poor whose job has been relieved off into other businesses because the rich is smart to take steps for the future that is filled with inflation also. This is the difference, the rich think of the future while the poor thinks of the immediate.

The upper class already have a lot business, they're also make a lot money from stupid poor and middle class, so it make them can expand their business become bigger and bigger.

It is true that the poor has a flamboyant life style to gain approval in the society but the rich really don't see a reason for that approval because they already seen above that. They know acceptance is not in appearance but what you were able to achieve.