Report: Half of Global Wealth Belongs to Wealthiest 1-Percent

A British charity named Oxfam has released it's latest report highlighting the gap between the "haves" and the "have nots." According to their latest study, titled 'Outlook on the Global Agenda 2014,' the wealthiest 1-percent accounts for $110 trillion. The study goes on to state that a mere 85 people have more wealth than the entire bottom half of the world.

Omaha's Warren Buffett is listed in the study. It refers to Buffett as a member of the richest one percent that recognizes the growing inequalities. It references comments Buffet made in 2010 that he should never pay a lower tax rate than the office clear.

The 32-page study was released during this year's World Economic Forum. It's an annual meeting aimed to improve the state of the world through business, political and academic leaders according to the event's website.

The Oxfam study calls for those attending this week's event to pay taxes in their own countries where they invest, to stop the practice of seeking political favors, and to support progressive taxation on wealth and income.

You can read more about the Oxfam study by clicking the link below.


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