Gap Between Rich And Poor Widens
The Rich vs. The Poor
The old saying ‘The rich get richer and the poor get poorer’ could not be closer to the truth than in a report published today.
It shows the ever growing gap between rich and poor has widened according to the report by charity Oxfam.
The report published today shows that the forty two richest people in the world have as much wealth as the poorest half of the world. Just to put that in figures these super rich billionaires are sitting on a cash pot worth 1.1 trillion, as much as the poorest 3.7 billion people.
It adds that the wealth of billionaires has risen 13% a year from 2006 to 2015 and states that the wealth gained ($762bn) is enough to end world poverty seven times over.
Oxfam said that the findings were ‘unacceptable and unsustainable’ for a small amount of people to accumulate so much, while millions of people struggle in poverty.
Oxfam chief executive Mark Goldring said “The concentration of extreme wealth at the top is not a sign of a thriving economy but a symptom of a system that is failing the millions of hard-working people on poverty wages who make our clothes and grow our food. However you look at it,this is an unacceptable level of inequality.”