International Group Calls for ‘An Economy for the 99 Percent’

What's Hot


2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

The nonprofit is calling on world leaders like U.S. President-elect Donald Trump to address the causes of the gap between the rich and poor.

The eight richest people in the world now have the same collective wealth as the 3.6 billion people who comprise the poorest half of the world population, according to a new report from Oxfam.

The international nonprofit devoted to ending poverty released the report — titled “An Economy for the 99 Percent: It’s Time to Build a Human Economy That Benefits Everyone, Not Just the Privileged Few” — right before the 2017 World Economic Forum kicked off Tuesday in Switzerland.

The annual meeting brings together “the world’s top leaders in collaborative activities” with the aim of “improving the state of the world,” according to its website.

Alongside Oxfam’s 48-page report, the nonprofit is calling on world leaders like U.S. President-elect Donald Trump to address the causes of the gap between the rich and poor, which Oxfam considers “far greater than had previously been estimated.”

Paul O’Brien, Oxfam America’s vice president for policy and campaigns, notes in a statement issued with the report:

“Americans want the political establishment to wake-up to the way elites and special interests have rigged the system to enrich themselves at the expense of everyone else. We have seen no proposals from President-elect Trump or his transition team to unrig the rules. In fact, what little detail is available of his team’s proposals indicates quite the opposite.”

According to Oxfam’s report, the causes of growing inequality across the globe center on corporations, which are:

  • Working for those at the top
  • Squeezing workers and producers
  • Dodging taxes
  • [Espousing] super-charged shareholder capitalism
  • [Espousing] crony capitalism

Other causes of inequality involve what the report calls “the super-rich,” who are also blamed for:

  • Avoiding taxes
  • Buying politics

Instead, the report calls for a “human economy,” which would benefit the 99 percent rather than the top 1 percent. Elements of such an economy would include more cooperation among governments, equal rights for women, fair taxation and a more sustainable approach to energy, the report said.

What are your thoughts on the gap between the rich and poor today? What do you make of Oxfam’s stance? Sound off below or on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 6 Ways to Get Your Spouse to Save More Money

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,043 more deals!