Essay/Commentary: OXFAM Reports that Richest One Per Cent Own Half of Assets

Essay/Commentary: OXFAM Reports that Richest One Per Cent Own Half of Assets

                  THe international anti-poverty agency OXFAM recently reported than the richest one percent own 50% of assets. In my view it is a disgrace that certain individuals or families have billions of dollars (more than they could spend in a lifetime), while others have to struggle with little or nothing. It is also disgraceful that in the richest country in the world there are many who struggle to afford to eat on a daily basis. Regardless of how politically unpopular it is, this inequitable distribution of wealth in itself makes the case for wealth redistribution. I don't know if the report cites assets in the U.S. or worldwide, but either way this situation should not be allowed or tolerated to continue.