Stuart D NeilsonMay 1, 2023

#Irish #workers #pay fell 3.9% behind inflation last year, equivalent to a €2,107 pay cut or working 8.3 days for free.
Most alarmingly, extreme #wealth and extreme #poverty have both increased - for the first time in 25 years
#Oxfam said there is an urgent need for#Ireland to discuss taxing #ExtremeWealth to balance #executive pay and #workers pay.

#InternationalWorkersDay

https://www.rte.ie/news/business/2023/0501/1380010-inflation-oxfam/

lucas gravesMay 2, 2023
Show threadStuart D Neilson

The richest 1 percent grabbed nearly two-thirds of all new #wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new #Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

1% of people captured 2/3 of all wealth.

https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

Oxfam International
May 1, 2023 at 8:59amWeb
Show threadMatt HamesMay 1, 2023

@StuartDNeilson In the US, 3 of the last 4 GOP presidents PROUDLY cut taxes in a way that benefits the ultra rich. The benfits continue to grow.

because that is not popular, they fund think tanks who test dumb issues to misdirect people.

CRT, invasion of immigrants, trans people playing sports, etc.

It sadly works. We never talk about how rich people are getting richer.

Show threadStuart D NeilsonMay 1, 2023
@mrhames Ten years ago Switzerland voted in a referendum to limit executive pay to 12:1 of the lowest-paid worker. It was not passed then. There is enough discontent for a similar proposal in many countries now.
https://www.reuters.com/article/gumbel-switzerland-idCNL2N0J01LI20131115
COLUMN-Swiss outrage over executive pay sparks a movement in Europe

Here's an idea for how to end corporate greed and reverse the trend of growing income inequality worldwide: impose a new rule that would limit the pay of top executives to just 12 times that of the lowest-paid employees at the same firm. In other words, prevent CEOs from...

Reuters
Show threadFrans Cobben In HalsterenMay 1, 2023
@StuartDNeilson ?
Show threadit's B! Cavello 🐝May 1, 2023
@StuartDNeilson out of curiosity, do you know what is the threshold for the richest 1% globally? I didn’t see any there
Show threadStuart D NeilsonMay 1, 2023
@b_cavello "According to Credit Suisse, individuals with more than $1 million in wealth sit in the top 1 percent bracket."
Also "the poorest people in many countries pay higher tax rates than billionaires... Elon Musk, one of the world’s richest men, paid a “true tax rate” of about 3 percent between 2014 and 2018."
https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years#:~:text=According%20to%20Credit%20Suisse%2C%20individuals,record%2Dsmashing%20peak%20in%202021.
Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

Oxfam International
Show threadit's B! Cavello 🐝May 1, 2023
@StuartDNeilson ah, fantastic! Thank you
Show threadEther DiverMay 1, 2023
@StuartDNeilson clearly they're just working that much harder than 2/3 of humanity