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Low wages & corporate tax avoidance contribute to global income inequality, according to Oxfam report

Oxfam: An Economy for the 99%. Credit: Allan Gichigi

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Author: 樂施會(中國發展簡報)

正值全球政商領袖雲集瑞士達沃斯準備召開“世界經濟論壇”之際,樂施會發布最新報告《99%民眾的經濟》指出,...富人和窮人之間的鴻溝比我們之前所擔心的還要更大。報告詳細介紹了跨國企業和超級富豪是如何通過避稅、降低員工工資,影響政府政策等行為加劇不平等危機。樂施會呼籲,我們的經濟體系應做出根本性的變革,讓其為所有人服務,而不僅僅是少數的富人。 ...報告顯示,現時這個支離破碎的經濟體係正在將財富聚集到富人手中,付出代價的正是社會上最貧窮的人,大部分是女性。 …[其建議]: 政府通過結束財富的極端集聚來終結極端貧困。政府應提高富豪及高收入人群的應納稅率,以確保社會環境更加公平,這些稅收應該用於醫療、教育和增加就業機會。各國政府之間不能只有競爭,應該更多的互相合作。各國政府應該聯手以確保工人獲得合理的工資,打擊避稅,停止競相降低企業稅收的行為。政府應該鼓勵公司不僅僅為股東服務,要更多的為員工謀取福利和造福社會。

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Author: 乐施会(中国发展简报)

正值全球政商领袖云集瑞士达沃斯准备召开“世界经济论坛”之际,乐施会发布最新报告《99%民众的经济》指出,...富人和穷人之间的鸿沟比我们之前所担心的还要更大。报告详细介绍了跨国企业和超级富豪是如何通过避税、降低员工工资,影响政府政策等行为加剧不平等危机。乐施会呼吁,我们的经济体系应做出根本性的变革,让其为所有人服务,而不仅仅是少数的富人。...报告显示,现时这个支离破碎的经济体系正在将财富聚集到富人手中,付出代价的正是社会上最贫穷的人,大部分是女性。…[其建议]: 政府通过结束财富的极端集聚来终结极端贫困。政府应提高富豪及高收入人群的应纳税率,以确保社会环境更加公平,这些税收应该用于医疗、教育和增加就业机会。各国政府之间不能只有竞争,应该更多的互相合作。各国政府应该联手以确保工人获得合理的工资,打击避税,停止竞相降低企业税收的行为。政府应该鼓励公司不仅仅为股东服务,要更多的为员工谋取福利和造福社会。

 

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Article
16 January 2017

An Economy for the 99%

Author: Oxfam International

New estimates show that just eight men own the same wealth as the poorest half of the world. As growth benefits the richest, the rest of society – especially the poorest – suffers...An Economy for the 99% looks at how large corporations and the super-rich are driving the inequality crisis and what can be done to change this...[W]hen corporations increasingly work for the rich, the benefits of economic growth are denied to those who need them most...[C]orporations are driven to squeeze their workers and producers ever harder – and to avoid paying taxes which would benefit everyone, and the poorest people in particular...While many chief executives...have seen their incomes skyrocket, wages for ordinary workers and producers have barely increased, and in some cases have got worse...In extreme cases, forced labour or slavery can be used to keep corporate costs down...Across the world, corporations are relentlessly squeezing down the costs of labour – and ensuring that workers and producers in their supply chains get less...Corporations maximize profit in part by paying as little tax as possible....Developing countries lose $100bn every year to tax dodging...It is the poorest people who lose out the most, as they are most reliant on the public services that these forgone billions could have provided...[Refers to Alphabet, Apple, Burger King, Facebook, Microsoft, Shell & Walmart]

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Article
16 January 2017

Eight billionaires 'as rich as world's poorest half'

Author: Katie Hope, BBC News (UK)

The world's eight richest individuals have as much wealth as the 3.6bn people who make up the poorest half of the world, according to Oxfam.  The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was "far greater than feared"...UK economist Gerard Lyons said focusing on extreme wealth "does not always give the full picture" and attention should be paid to "making sure the economic cake is getting bigger".  However, he said Oxfam was right to single out companies that it believed fuelled inequality with business models that were "increasingly focused on delivering ever-higher returns to wealthy owners and top executives"...The charity is calling for "a more human economy" and is urging governments to crack down on executive pay and tax evasion and impose higher taxes on the wealthy.  It also wants business leaders to pay a "fair share of tax" and has urged companies to pay staff the "living wage", which is higher than the government's National Living Wage...

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Article
16 January 2017

Summary: An Economy for the 99%

Author: Oxfam International

...It is four years since the World Economic Forum identified rising economic inequality as a major threat to social stability,  and three years since the World Bank twinned its goal for ending poverty with the need for shared prosperity.  Since then, and despite world leaders signing up to a global goal to reduce inequality, the gap between the rich and the rest has widened...

  • Yet the global inequality crisis continues unabated:
  •  Since 2015, the richest 1% has owned more wealth than the rest of the planet.
  •  Eight men now own the same amount of wealth as the poorest half of the world.
  • Over the next 20 years, 500 people will hand over $2.1 trillion to their heirs – a sum larger than the GDP of India, a country of 1.3 billion people.
  • The incomes of the poorest 10% of people increased by less than $3 a year between 1988 and 2011, while the incomes of the richest 1% increased 182 times as much.
  • A FTSE-100 CEO earns as much in a year as 10,000 people in working in garment factories in Bangladesh.
  • In the US, new research by economist Thomas Piketty shows that over the last 30 years the growth in the incomes of the bottom 50% has been zero, whereas incomes of the top 1% have grown 300%.
  • In Vietnam, the country’s richest man earns more in a day than the poorest person earns in 10 years...

 

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