The recently published report has a number of interesting stats including:
- 1% of the world's richest are wealthier than the remaining 99%
- 8 men are as rich as the planet's 50% poorest
- income growth for the bottom 50% has been zero over the last three decades while the top 1% have enjoyed a corresponding increase of 300%
- it takes 10 years for the poorest person in Vietnam to earn what the richest person there makes in a day
The report also highlights how politics may be highjacked so that rules are written in favour of the 1%. I guess a bit like the Sithanen flat tax which has caused 22,000 Mauritians to be thrown into poverty over the first five years of Shaitanomics while incomes for the bottom 10% have risen five times slower than the corresponding income for the top 10%. There's also a trillion-rupee GDP shortfall and the very dumb policy of 'competitive depreciation' which has quickly dumped us into a recession -- in USD terms -- a mere three months after the December 2014 polls.
How funny is that? Sivaramen saying that the tax cuts that Trump has proposed (a flat tax of 15%) are kind of scary. So when Sithanen did exactly the same thing (well he did a lot worse) that wasn't scary? Check this title for a good example of post-truth.
ReplyDeleteExpecting Nad and his mates to Express balanced and progressive views consistently, you must be kidding, just Forget it!
ReplyDeletePost-truth?? That's so 2016 already: try alternative fact, the new way of covering up toxicity coming out of the black matter between some peoples' ears. What a time to be alive!
ReplyDeleteIn any case, big business does not give two hoots about the principles behind the transition, as long as it's business as usual (aka, flat tax for us, weak rupee for us, low-wage foreign labourers for us, no land conversion tax for smart cities for us, etc, etc, all for me, myself and I...)
ReplyDeleteIndeed. Plus given that the 'political uncertainty' is gone we should expect double digits growth rates I guess :)
ReplyDeleteEst-ce qui ti bien necessaire cree ene poste de minis menter??? Est-ce qui ena ene qui pas menter???
ReplyDeleteSir,
ReplyDeletedon't you think we should open up our country and let 100,000 people in? Methink this is good idea. We should start replacing those dim wits at some accounting firms which are quite good at avoiding duty on cars.