World's 85 Richest Have Same Wealth as Bottom 50 Percent
http://america.aljazeera.com/articles/2014/1/20/world-s-85-richesthavesamewealthasbottom50percentreport.html. Due 27 Jan 2014. What are the backend costs of having so much wealth in the hands of so few?? Mention at least 3 backend costs.
According to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. I think that the more wealthy people the world has, there will be more poor people in the world and more of us will be suffering. For example, the upper class pays less money on income tax than the middle class. In my opinion, it should have been the opposite because, how can a poor person pays a lot of money in income tax, especially if they are not even making a lot of money, and the rich people who are making way more money gets to pay less in income tax.
This is incredible and unfair to us hard workers! The backend costs of having so much wealth in the hands of so few are a lot. First of all, there is no guarantee that these people will spend all that money wisely. So, the fact that the wealthy people hold on to so much money is a risk to the poor's lives. A lot of people are struggling just to live and the irony is that the wealthy people, regardless of how much money they already have, benefit financially more than the poor people. For example, the inequality in paying taxes is not fair. Another backend cost is that the poor people are now relying on the ''few'' people. As a result, a lot of people are jobless and homeless right now. The poor people's future is in the hands of those 85 richest people. It's just crazy. The 10% is jeopardizing the poor's economic status.
It is clearly frustrating to most that the richest people in the world have as much wealth as the bottom 50 percent, especially to those who have to suffer because of this grave situation. One of the back end costs of having so much wealth in the hands of so few is how much the top 1 percent have in their assetts and how much the low class and middle class are been deprived of their own money; just because the rich wants to get richer, while the poor are getting poorer by the second. Furthermore, the "powerful ones" are not doing anything meaningful to stop this from going forward, to prevent the economic from being even more corrupt. Another back end costs of having so much wealth in the hands of so few is how the livihood of the lower and middle class is being affected, of course we can cope for the U.S is not one of the poorest country in the world but why there need to be sacrifice when there is no need of it. Equality or something close to it "economiclly" , in another word fairness that's what we need in his moment. Obviously the "rich" are not going to give up even a bit of their Grand life even a few millions won't have any effect on them. Lastly, who knows what's happening the thing that the green paper is causing if a few of the top percent should think about the poor even for a second , I pretty sure that there will be CHANGE.
The backend costs of having so much wealth in the hands of so few is that the 85 richest people on the planet are worth nearly as much as the poorest 50 percent of the world's population. Now that says a lot, its crazy to think that it has come to that. Another back end cost will be for middle class depriving them of their own money. The article states "The chronic gap between the incomes of the richest and poorest citizens is seen as the risk that is most likely to cause serious damage globally in the coming decade." is a backend cost because it is said to cause damage to our economy adding more problems, which we do not need. Also the inequality of the different class paying taxes is unfair. The wealthier should be paying more, they have enough people to pay a little more. And then maybe that would help our lower class to improve to the middle class. Something has to be done about this before it causes serious issues and its then to late to fix.
The backend cost of these 85 wealthy individuals is the fact that they can do what they please due to their wealth. As stated in the article some of them feel as if they can overrule democracy and create regulations that best suit them. Just because they can buy their way into the system doesn't mean that what they feel will suit them will benefit the other citizens. With only 85 individuals in the entire world obtaining such wealth, it creates a bigger gap between the middle class and the wealthy. In America we face that problem as we speak, while we speak about the situation now, imagine how it will be in the future. Having these individuals obtain such wealth would create a gap that will not be able to be mended . And finally the tax issue will continue to make these individuals gradually obtain more wealth. Why is our society corrupt? We are in so much debt but because certain individuals make more than enough money they are "relieved" in the amount of taxes they are obligated to pay? That's ridiculous. With their contribution they should be able to help the government earn extra income to repay this debt. This article basically states the rich keep getting richer.
The backend cost of these people having so much wealth is that they have all the power within their grasp that can make or break other people in the process. The wealthy may push and pull things to get their way. There is no telling what these 85 people will do with basically all of the world's money in their hands. These individuals are already worth more than 50 percent of the world's population, and so there is no incentive for them to take care of the rest of the world. Also, because some of them are receiving money that they do not need will push the gap between the rich and the poor farther from one another. The gap will cause for damage within the decade, which means adding unnecessary problems that the US does not need whatsoever. And the taxation for each individual class is unfair. The wealthy obviously have enough money to be able to pay a larger amount in taxes as opposed to the poor. And maybe with this change the outcome will be slowly closing the gap between the poor and rich.
The fact that the top 85 wealthiest people are worth about 50% of the lower population is a back end cost because it is very detrimental to our economy. The top one percent of the rich have 65 times more money than the lower class and that will make a bigger gap between the rich and the poor. It is not fair that the top one percent have to pay less income than the poor. This is only hurting the lower class because they don't have sufficient amount of cash to support themselves. While the lower class is paying more, the upper class is getting larger and paying less. It doesn't make sense how the lower class have to pay more when there are people with money who can actually pay more. While the rich people are getting richer, the poor people are getting poorer
The backend in having the 85 richest people equal the amount of the half the worlds poor population, is the they are able to "rigged laws in their own favor". Meaning that, they undermine the democratic process, so that they are benefitted, leaving the poor suffering. The wealth gap is dramatically increasing, no matter how hard Obama is trying to narrow down the path, it is simply not working. The World Economic Forum, has sent out a warning about the possible global risk in 2014. The way the people are being taxed is not fair at all. The poor have to pay such a higher rate, when they don't have the money to pay for it. The rich is able to pay the high tax rates, however they have rigged the laws to their own favor, so they don't have to pay as much as the poor. The economy needs the help from the rich. Holding on to all the money, not letting it go in the cycle is not benefitting anyone but themselves.
The backend cost of these 85 wealthy individuals is the fact that they are able to use their money to influence the economy and politics when they shouldn’t be able to. With only 85 individuals in the entire world obtaining such wealth, it creates a bigger gap between the middle class and the wealthy. In America income inequality has become a forefront issue, the highly unequal distribution of wealth is damaging to the economy and the individual lives of millions of Americans. It is not fair that the top one percent have to pay less taxes than the poor. This is only hurting the lower class because they have to share a small amount of money amongst themselves. While the lower class is paying more, the upper class is getting bulkier and paying less. It is unfair that lower class has to pay more when there are people with money who can actually pay more and don’t even help the poor.
The backend costs of having such high income equality are that those 85 wealthy individuals are able to bend the rules in their favor. It creates a large gap between the poor and the wealthy, causing the middle class to start disappearing. Not only that, but the rich pursue policies that will make them richer in lieu of pursuing policies that will promote the common good. Those policies usually end up penalizing everyone else, too. This leads to money being funneled to the people who are already wealthy, according to the article.
There are many backend cost to having the 85 individuals being so wealthy and getting richer. First, these people are very conservative of their money and most likely gather together to discus how to keep their wealth and status. They are very influential in the world economy and in their nation's economy and will do what ever it takes to keep their money flowing. This spells bad news for the rest of us because as they continue to manipulate the economy we will get even more poor despite attempts of the government to stop or slow the gap. As already poor people become even poorer they will become desperate and crime rates will get higher. Nothing good can come from this gap and in time it will only prove to become an even greater problem.
Having so much money in the hands of few people doesn't has a lot of backend cost like the fact that the money is not spending out or reaching the bottom 50 percent to help circulate the money to help the economy. another reason is that with all that money they comes a lot of power and control and undercover deals made. And the sad part of this all is that around the world the unemployment is growing so that make the lower 50 percent even poorer and trying the make ends meet all the top 1 percent are relax and clam
The back-end costs of having so much wealth in the hands of so few is the fact that they don't spend it. Or rather, they don't spend it in the ways that would benefit the people in the same city. Some of the back-end costs are the fact that with all the money these people hold in their hands, they are able to bend certain policies and rules that would favor them in expense of other people. Another would be the wealth gap between the rich and poor continue to grow, while Obama did attempt to reduce it, it still grows today. Last, is the constant inequality between the two classes, all the way to the point where middle class will cease to exist, while the rich gain the perks.
One of the many disadvantages of people having too much wealth is that they have all the power and are capable of making a majority of the decisions within the country. As we know, with more wealth comes more greed, which means that the wealthy will do anything to get what they want. Nothing could possibly predict what thee 85 people will do with a majority of the world's money in their hands. As it is, these individuals are already worth more than 50 percent of the world's population, which means there is practically no incentive for them to take care of the rest of the world. Also, since some of them are receiving money that they do not need, this will increase the gap between the rich and the poor farther than ever before. This gap will eventually lead to damage within the next decade or so, which means adding unnecessary problems. That being said taxation for each individual class is also incredibly unfair. The wealthy obviously has enough money to be able to pay a large amount in taxes, instead of putting this much of a burden on the poor.
The backend costs of having so much wealth in the hands of so few is that the 85 wealthiest people are worth almost as much as the bottom 50 percent. Another backend cost would be the middle class whom are deprived of their money and needs. This all together can lead to another backend cost which was clearly stated in the article saying that economy could be dramatically affected; adding to the global problems we have already. If the upper class paid less in income tax than the middle class then it can help raise the lower class and also help the middle class get out of their deprivation of their own money.
The backend costs of 85 people having the wealth of the bottom half of the worlds population can be costly. The top 85 people have the same financial power as the bottom half of the population. With this money, comes power and influence of the the worlds markets. The top 85 people have 65 times more money then the bottom half which is creating an even larger gap in wealth distribution. The tax deregulation and other benefits to these individuals is making them even wealthier when it should be used to help pay off debt and other problems with society as a whole.
The backend cost of 85 people having wealth of half population is they've basically become most powerful in our nation. With about half wealth of population, they feel as if they don't have to adhere to certain laws. they can buy there way into things. They have great influence in the markets, thus creating more wealth for themselves, and increasing gap in wealth distribution. The tax deregulation they get just adds to their wealth even further, not to mention other benefits they have controlling about 50% of wealth in population. This gives them ability to have power in government to persuade many in government to do what they want.
According to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. Not only that, but the rich pursue policies that will make them richer in lieu of pursuing policies that will promote the common good. Those policies usually end up penalizing everyone else, too. This leads to money being funneled to the people who are already wealthy, according to the article.
The backend costs of 85 people having the wealth of the bottom half of the world is that they will become more powerful then everyone else. The middle class is just disappearing. The gap will cause for damage within the decade, which means adding unnecessary problems that the US does not need. Also the taxation for each individual class is unfair! The rich obviously has more than enough money to pay a higher tax rate, instead the poor keeps getting poorer and the rich keeps getting richer, totally unfair! Maybe the only thing we need to do, to fix everything, is to have the richer pay higher taxes instead of the poor.
The backend in having the 85 richest people equal the amount of the half the worlds poor population, is the they are able to "rigged laws in their own favor". Meaning that, they undermine the democratic process, so that they are benefitted, leaving the poor suffering. The wealth gap is dramatically increasing, no matter how hard Obama is trying to narrow down the path, it is simply not working. The World Economic Forum, has sent out a warning about the possible global risk in 2014. The way the people are being taxed is not fair at all. The poor have to pay such a higher rate, when they don't have the money to pay for it. The rich is able to pay the high tax rates, however they have rigged the laws to their own favor, so they don't have to pay as much as the poor. The economy needs the help from the rich. Holding on to all the money, not letting it go in the cycle is not benefitting anyone but themselves.
the backened costs of having the 85 richest people controlling that much money is the amount of power these people hold because of that money. they are the kind of people who don't mind having to ruin other people's lives to make theirs better, some may even be psychopaths. as they get richer and the poor get poorer, the gap between the upper and lower class will make the middle class nonexistent. Also, the rich don't pay as much as the poor do. they have much more money so they should be paying more taxes. Money is just an unfair game in which the poor always come out on the bottom.
The "Backend Costs" of having 85 of the richest people being worth more money than the bottom 50 percent is that those 85 people will have a great deal of power on what will be happening in our world. These people basically control our government and our economy. Some have even gone mad with their power and influences. Another "Backend Cost" is that the gap between the upper class and the lower class will become nonexistent. The middle class will disappear, and people will either be super rich or super poor. The other backend cost is the taxing issue. The rich are able to pay their taxes in full because it is such a small amount of their income, while the poor and the middle class are having great difficulties paying taxes. Taxes are rising, the poor is suffering from this. A solution would be raising taxes on the rich and lowering them for the poor.
The backend costs of 85 people having the wealth of the bottom half of the world is that they will become way more powerful than everyone else and become "in charge". The middle class is disappearing very fast and this is causing problems that our country really can't afford right now. The way the taxes are set up is ridiculous, the richer are getting richer and the poor are getting poorer, the taxes are unfair now. We are helping out the upper class, when we should really be helping out the lower class. The laws that help the rich pay lower taxes than the poor is insane and not fair, why should the poor have to pay more taxes that they can barely afford, when the rich can pay more because it doesn't even put a dent into their bank accounts.
There are many backend costs of having so much wealth in the hands of such a few percentage of people which only ends up being 85 individual people. This puts so much power into the hand of these individuals because in this country money can buy you almost anything. This has made a huge impact on the gap between the wealthy and the middle class which is slowing disappearing. Also, the fact that these individuals are not as taxed as much as they should be just keeps the money with them which they should be paying because it could extremely help the government get rid of the debt that it carries. With so much money with these individuals they can control the economy and the government if they wanted to and they probably are it's just all under the table and we don't realize it as much as we should be. Basically having all the money with them puts it in a risky situation if they decide to use their money for their own intentions that could drastically change our living conditions, and they just keep getting richer.
The back end costs of having so much wealth in the hands of so few allows the wealthy to control the circulation of money. This also creates a huge gap in the wealth distribution leaving not enough money to spread to the lower 50%. Taxes create a bigger burden on the lower 50% than the top 85 wealthiest as well, which is unfair. Also, with the rich owning so much money, they in return have a lot of power; so they can, at any time, change many important things in the government.
The back end costs of having so much wealth in the hands of so few is that those people have too much power. They end up controlling so much, and these 85 people end up having the majority of the world's money. Since these people are worth so much, and worth more than 50 percent of the world, they do not care enough to worry about how everyone else in the world is doing. As their incomes increase, the middle class will begin to disappear more and more. Also, the taxation for these classes seems to be unfair when these 85 people can easily take care of the majority of the taxes or at least be taxed a greater amount according to their incomes.
The backend cost of the 85 richest peolpe having more money than the bottom 50 percent are very plentiful.such as all the power that those few individuals have.Along with power, money not circulating is also an issue.These few individulas that are in this class have money sitting not benifitng any body.
The backend costs of the 85 richest people having the same amount of wealth as the bottom 50 is that these people have too much power. The wealthy are able to influence entire economies. If they want, they could pour their money into a certain industry and it would boom. They could also take their money out of economies and watch them crash and burn. The amount of control that they have is too much. Another backend cost is that since they control so much of the world's resources, it creates gaps between social classes thus, even further shrinking the middle class throughout the world.
It disgusts me to know that no matter how hard I work in life or how good of a person I strive to be, I will never get the actual compensation I deserve for it. Those who control all of the wealth have far too much power that is-in some cases- not even deserved. This much power in contrast with the little power that the bottom fifty percent is in possession of is what clearly defines the shrinking of the middle class and more of a have and have-not society. These 85 people basically control the world's economy, and to me, this is unfair because money isn't what really matters in life- or in the universe. (Many of these people may have gained wealth by means of immoral actions.) These people should not just sit on their wealth, but use it to help the world and it's economies to grow and prosper.
The backend cost of the world’s 85 richest people having the same wealth as the bottom 50% is a great deal power. As stated in the article Oxfam International says the world elite bend laws in their favor. I feel this is wrong because they are most likely thinking about themselves and not all citizens. Another backend is that the chronic gap between the richest and poorest citizens, which are going to cause serious damage globally in the coming decade. Also the growing gap is the biggest global risk in 2014. We need to somehow restore the gap or lessen it because nobody can afford to be in the position of global damage. The world’s 85 should put money out into circulation to get the economy going, and do better with their money since they have the power to do so. Finally, another backend cost is taxes. It is not fair at all that they pay less tax, and there are people here struggling on little and have to pay normal amount of taxes. Maybe two or three of the 85 are doing something to help the economy, but that does not match up to the other 83 or 82 who are sitting on their money, keeping it warm this winter.
Having all of this wealth in the hands of so little people is a very serious issue. There are many back end costs from the wolds richest individuals having as much money as they do. For example, they get a serious amount of power because if they dont spend their money there could be serious issues with the economy. that power can cause a lot of issues such as them making sure certain laws or verdicts go in their favor. if it doesnt work with them then they could hold their money and bam then you have problems with the economy. All of the money the worlds 85 richest have is diminishing a already basically unnoticable middle class and making a larger and larger lower class. All in all, all this money gives them basically the power to do almost anything that they choose to do, despite how unfair it may be. you really dont have much of a choice because if theyre unhappy there will be reprecussions.
This is what happens in an economy that is quick to protect big companies. I mean the paper work and the research required to make a product or start a business is overwhelming. I believe the governent has intentionally or has unintentionally made the economy this way. The fact that the world's 85 richest have the same wealth as the bottom 50 percent is astonshing. I mean goverenment exists so the pie (a countries resources) can be divided for all whether it is divided evenly or not. I mean at this rate anarchy is going to become a real problem. Money is a measurement for work. A doctor's job is considered to be worth more than a teacher's job. This is becuase society believes the work done by a doctor has a greater measurement than the work done by a teacher. I point this out because when you become part of the one percent you basically don't have to work. This means that they are recieving money based off of someone else's work. It is true that without this one person the company wouldn't have existed, but is it not true that there is business is reliant on employees to make it expand. It seems like we are going to back to the past in the reguard that when slaves were finally freed in amercia they were tricked into renting land from the same people who had enslaved. The former slaves who fell for this trick were worse off now that they were in debt to there former owners. All in all, the goverenment in my opinion is inexperienced in making an equal and fair society due to the fact that there are none.
The backend cost of having half the monies controled by 85 people is a high income inequlity. The bottom half of the popultion wont have enough to feed itself, so they will have to relie on the other half for food. Another backend cost is that money talks and the 85 people can have their money talk in poltics to favor polices that will help them. The 85 people can do whatever they want because their money protect them. Another backend cost is they probaly wont have to pay taxes. First because the tax brackets favor them and would own less and so much of their income is disposable that they can give to "charies."
According to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. In America we face that problem as we speak, while we speak about the situation now, imagine how it will be in the future. Having these individuals obtain such wealth would create a gap that will not be able to be mended . While the lower class is paying more, the upper class is getting bulkier and paying less. It is unfair that lower class has to pay more when there are people with money who can actually pay more and don’t even help the poor.
According to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. I think that the more wealthy people the world has, there will be more poor people in the world and more of us will be suffering. For example, the upper class pays less money on income tax than the middle class. In my opinion, it should have been the opposite because, how can a poor person pays a lot of money in income tax, especially if they are not even making a lot of money, and the rich people who are making way more money gets to pay less in income tax.
ReplyDeleteThis is incredible and unfair to us hard workers! The backend costs of having so much wealth in the hands of so few are a lot. First of all, there is no guarantee that these people will spend all that money wisely. So, the fact that the wealthy people hold on to so much money is a risk to the poor's lives. A lot of people are struggling just to live and the irony is that the wealthy people, regardless of how much money they already have, benefit financially more than the poor people. For example, the inequality in paying taxes is not fair. Another backend cost is that the poor people are now relying on the ''few'' people. As a result, a lot of people are jobless and homeless right now. The poor people's future is in the hands of those 85 richest people. It's just crazy. The 10% is jeopardizing the poor's economic status.
ReplyDeleteIt is clearly frustrating to most that the richest people in the world have as much wealth as the bottom 50 percent, especially to those who have to suffer because of this grave situation. One of the back end costs of having so much wealth in the hands of so few is how much the top 1 percent have in their assetts and how much the low class and middle class are been deprived of their own money; just because the rich wants to get richer, while the poor are getting poorer by the second. Furthermore, the "powerful ones" are not doing anything meaningful to stop this from going forward, to prevent the economic from being even more corrupt. Another back end costs of having so much wealth in the hands of so few is how the livihood of the lower and middle class is being affected, of course we can cope for the U.S is not one of the poorest country in the world but why there need to be sacrifice when there is no need of it. Equality or something close to it "economiclly" , in another word fairness that's what we need in his moment. Obviously the "rich" are not going to give up even a bit of their Grand life even a few millions won't have any effect on them. Lastly, who knows what's happening the thing that the green paper is causing if a few of the top percent should think about the poor even for a second , I pretty sure that there will be CHANGE.
ReplyDeleteThe backend costs of having so much wealth in the hands of so few is that the 85 richest people on the planet are worth nearly as much as the poorest 50 percent of the world's population. Now that says a lot, its crazy to think that it has come to that. Another back end cost will be for middle class depriving them of their own money. The article states "The chronic gap between the incomes of the richest and poorest citizens is seen as the risk that is most likely to cause serious damage globally in the coming decade." is a backend cost because it is said to cause damage to our economy adding more problems, which we do not need. Also the inequality of the different class paying taxes is unfair. The wealthier should be paying more, they have enough people to pay a little more. And then maybe that would help our lower class to improve to the middle class. Something has to be done about this before it causes serious issues and its then to late to fix.
ReplyDeleteThe backend cost of these 85 wealthy individuals is the fact that they can do what they please due to their wealth. As stated in the article some of them feel as if they can overrule democracy and create regulations that best suit them. Just because they can buy their way into the system doesn't mean that what they feel will suit them will benefit the other citizens. With only 85 individuals in the entire world obtaining such wealth, it creates a bigger gap between the middle class and the wealthy. In America we face that problem as we speak, while we speak about the situation now, imagine how it will be in the future. Having these individuals obtain such wealth would create a gap that will not be able to be mended . And finally the tax issue will continue to make these individuals gradually obtain more wealth. Why is our society corrupt? We are in so much debt but because certain individuals make more than enough money they are "relieved" in the amount of taxes they are obligated to pay? That's ridiculous. With their contribution they should be able to help the government earn extra income to repay this debt. This article basically states the rich keep getting richer.
ReplyDeleteThe backend cost of these people having so much wealth is that they have all the power within their grasp that can make or break other people in the process. The wealthy may push and pull things to get their way. There is no telling what these 85 people will do with basically all of the world's money in their hands. These individuals are already worth more than 50 percent of the world's population, and so there is no incentive for them to take care of the rest of the world. Also, because some of them are receiving money that they do not need will push the gap between the rich and the poor farther from one another. The gap will cause for damage within the decade, which means adding unnecessary problems that the US does not need whatsoever. And the taxation for each individual class is unfair. The wealthy obviously have enough money to be able to pay a larger amount in taxes as opposed to the poor. And maybe with this change the outcome will be slowly closing the gap between the poor and rich.
ReplyDeleteThe fact that the top 85 wealthiest people are worth about 50% of the lower population is a back end cost because it is very detrimental to our economy. The top one percent of the rich have 65 times more money than the lower class and that will make a bigger gap between the rich and the poor. It is not fair that the top one percent have to pay less income than the poor. This is only hurting the lower class because they don't have sufficient amount of cash to support themselves. While the lower class is paying more, the upper class is getting larger and paying less. It doesn't make sense how the lower class have to pay more when there are people with money who can actually pay more. While the rich people are getting richer, the poor people are getting poorer
ReplyDeleteThe backend in having the 85 richest people equal the amount of the half the worlds poor population, is the they are able to "rigged laws in their own favor". Meaning that, they undermine the democratic process, so that they are benefitted, leaving the poor suffering. The wealth gap is dramatically increasing, no matter how hard Obama is trying to narrow down the path, it is simply not working. The World Economic Forum, has sent out a warning about the possible global risk in 2014. The way the people are being taxed is not fair at all. The poor have to pay such a higher rate, when they don't have the money to pay for it. The rich is able to pay the high tax rates, however they have rigged the laws to their own favor, so they don't have to pay as much as the poor. The economy needs the help from the rich. Holding on to all the money, not letting it go in the cycle is not benefitting anyone but themselves.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe backend cost of these 85 wealthy individuals is the fact that they are able to use their money to influence the economy and politics when they shouldn’t be able to. With only 85 individuals in the entire world obtaining such wealth, it creates a bigger gap between the middle class and the wealthy. In America income inequality has become a forefront issue, the highly unequal distribution of wealth is damaging to the economy and the individual lives of millions of Americans. It is not fair that the top one percent have to pay less taxes than the poor. This is only hurting the lower class because they have to share a small amount of money amongst themselves. While the lower class is paying more, the upper class is getting bulkier and paying less. It is unfair that lower class has to pay more when there are people with money who can actually pay more and don’t even help the poor.
ReplyDeleteThe backend costs of having such high income equality are that those 85 wealthy individuals are able to bend the rules in their favor. It creates a large gap between the poor and the wealthy, causing the middle class to start disappearing. Not only that, but the rich pursue policies that will make them richer in lieu of pursuing policies that will promote the common good. Those policies usually end up penalizing everyone else, too. This leads to money being funneled to the people who are already wealthy, according to the article.
ReplyDeleteThere are many backend cost to having the 85 individuals being so wealthy and getting richer. First, these people are very conservative of their money and most likely gather together to discus how to keep their wealth and status. They are very influential in the world economy and in their nation's economy and will do what ever it takes to keep their money flowing. This spells bad news for the rest of us because as they continue to manipulate the economy we will get even more poor despite attempts of the government to stop or slow the gap. As already poor people become even poorer they will become desperate and crime rates will get higher. Nothing good can come from this gap and in time it will only prove to become an even greater problem.
ReplyDeleteHaving so much money in the hands of few people doesn't has a lot of backend cost like the fact that the money is not spending out or reaching the bottom 50 percent to help circulate the money to help the economy. another reason is that with all that money they comes a lot of power and control and undercover deals made. And the sad part of this all is that around the world the unemployment is growing so that make the lower 50 percent even poorer and trying the make ends meet all the top 1 percent are relax and clam
ReplyDeleteThe back-end costs of having so much wealth in the hands of so few is the fact that they don't spend it. Or rather, they don't spend it in the ways that would benefit the people in the same city. Some of the back-end costs are the fact that with all the money these people hold in their hands, they are able to bend certain policies and rules that would favor them in expense of other people. Another would be the wealth gap between the rich and poor continue to grow, while Obama did attempt to reduce it, it still grows today. Last, is the constant inequality between the two classes, all the way to the point where middle class will cease to exist, while the rich gain the perks.
ReplyDeleteOne of the many disadvantages of people having too much wealth is that they have all the power and are capable of making a majority of the decisions within the country. As we know, with more wealth comes more greed, which means that the wealthy will do anything to get what they want. Nothing could possibly predict what thee 85 people will do with a majority of the world's money in their hands. As it is, these individuals are already worth more than 50 percent of the world's population, which means there is practically no incentive for them to take care of the rest of the world. Also, since some of them are receiving money that they do not need, this will increase the gap between the rich and the poor farther than ever before. This gap will eventually lead to damage within the next decade or so, which means adding unnecessary problems. That being said taxation for each individual class is also incredibly unfair. The wealthy obviously has enough money to be able to pay a large amount in taxes, instead of putting this much of a burden on the poor.
ReplyDeleteThe backend costs of having so much wealth in the hands of so few is that the 85 wealthiest people are worth almost as much as the bottom 50 percent. Another backend cost would be the middle class whom are deprived of their money and needs. This all together can lead to another backend cost which was clearly stated in the article saying that economy could be dramatically affected; adding to the global problems we have already. If the upper class paid less in income tax than the middle class then it can help raise the lower class and also help the middle class get out of their deprivation of their own money.
ReplyDeleteThe backend costs of 85 people having the wealth of the bottom half of the worlds population can be costly. The top 85 people have the same financial power as the bottom half of the population. With this money, comes power and influence of the the worlds markets. The top 85 people have 65 times more money then the bottom half which is creating an even larger gap in wealth distribution. The tax deregulation and other benefits to these individuals is making them even wealthier when it should be used to help pay off debt and other problems with society as a whole.
ReplyDeleteThe backend cost of 85 people having wealth of half population is they've basically become most powerful in our nation. With about half wealth of population, they feel as if they don't have to adhere to certain laws. they can buy there way into things. They have great influence in the markets, thus creating more wealth for themselves, and increasing gap in wealth distribution. The tax deregulation they get just adds to their wealth even further, not to mention other benefits they have controlling about 50% of wealth in population. This gives them ability to have power in government to persuade many in government to do what they want.
ReplyDeleteAccording to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. Not only that, but the rich pursue policies that will make them richer in lieu of pursuing policies that will promote the common good. Those policies usually end up penalizing everyone else, too. This leads to money being funneled to the people who are already wealthy, according to the article.
ReplyDeleteThe backend costs of 85 people having the wealth of the bottom half of the world is that they will become more powerful then everyone else. The middle class is just disappearing. The gap will cause for damage within the decade, which means adding unnecessary problems that the US does not need. Also the taxation for each individual class is unfair! The rich obviously has more than enough money to pay a higher tax rate, instead the poor keeps getting poorer and the rich keeps getting richer, totally unfair! Maybe the only thing we need to do, to fix everything, is to have the richer pay higher taxes instead of the poor.
ReplyDeleteThe backend in having the 85 richest people equal the amount of the half the worlds poor population, is the they are able to "rigged laws in their own favor". Meaning that, they undermine the democratic process, so that they are benefitted, leaving the poor suffering. The wealth gap is dramatically increasing, no matter how hard Obama is trying to narrow down the path, it is simply not working. The World Economic Forum, has sent out a warning about the possible global risk in 2014. The way the people are being taxed is not fair at all. The poor have to pay such a higher rate, when they don't have the money to pay for it. The rich is able to pay the high tax rates, however they have rigged the laws to their own favor, so they don't have to pay as much as the poor. The economy needs the help from the rich. Holding on to all the money, not letting it go in the cycle is not benefitting anyone but themselves.
ReplyDeletethe backened costs of having the 85 richest people controlling that much money is the amount of power these people hold because of that money. they are the kind of people who don't mind having to ruin other people's lives to make theirs better, some may even be psychopaths. as they get richer and the poor get poorer, the gap between the upper and lower class will make the middle class nonexistent. Also, the rich don't pay as much as the poor do. they have much more money so they should be paying more taxes. Money is just an unfair game in which the poor always come out on the bottom.
ReplyDeleteThe "Backend Costs" of having 85 of the richest people being worth more money than the bottom 50 percent is that those 85 people will have a great deal of power on what will be happening in our world. These people basically control our government and our economy. Some have even gone mad with their power and influences. Another "Backend Cost" is that the gap between the upper class and the lower class will become nonexistent. The middle class will disappear, and people will either be super rich or super poor. The other backend cost is the taxing issue. The rich are able to pay their taxes in full because it is such a small amount of their income, while the poor and the middle class are having great difficulties paying taxes. Taxes are rising, the poor is suffering from this. A solution would be raising taxes on the rich and lowering them for the poor.
ReplyDeleteThe backend costs of 85 people having the wealth of the bottom half of the world is that they will become way more powerful than everyone else and become "in charge". The middle class is disappearing very fast and this is causing problems that our country really can't afford right now. The way the taxes are set up is ridiculous, the richer are getting richer and the poor are getting poorer, the taxes are unfair now. We are helping out the upper class, when we should really be helping out the lower class. The laws that help the rich pay lower taxes than the poor is insane and not fair, why should the poor have to pay more taxes that they can barely afford, when the rich can pay more because it doesn't even put a dent into their bank accounts.
ReplyDeleteThere are many backend costs of having so much wealth in the hands of such a few percentage of people which only ends up being 85 individual people. This puts so much power into the hand of these individuals because in this country money can buy you almost anything. This has made a huge impact on the gap between the wealthy and the middle class which is slowing disappearing. Also, the fact that these individuals are not as taxed as much as they should be just keeps the money with them which they should be paying because it could extremely help the government get rid of the debt that it carries. With so much money with these individuals they can control the economy and the government if they wanted to and they probably are it's just all under the table and we don't realize it as much as we should be. Basically having all the money with them puts it in a risky situation if they decide to use their money for their own intentions that could drastically change our living conditions, and they just keep getting richer.
ReplyDeleteThe back end costs of having so much wealth in the hands of so few allows the wealthy to control the circulation of money. This also creates a huge gap in the wealth distribution leaving not enough money to spread to the lower 50%. Taxes create a bigger burden on the lower 50% than the top 85 wealthiest as well, which is unfair. Also, with the rich owning so much money, they in return have a lot of power; so they can, at any time, change many important things in the government.
ReplyDeleteThe back end costs of having so much wealth in the hands of so few is that those people have too much power. They end up controlling so much, and these 85 people end up having the majority of the world's money. Since these people are worth so much, and worth more than 50 percent of the world, they do not care enough to worry about how everyone else in the world is doing. As their incomes increase, the middle class will begin to disappear more and more. Also, the taxation for these classes seems to be unfair when these 85 people can easily take care of the majority of the taxes or at least be taxed a greater amount according to their incomes.
ReplyDeleteThe backend cost of the 85 richest peolpe having more money than the bottom 50 percent are very plentiful.such as all the power that those few individuals have.Along with power, money not circulating is also an issue.These few individulas that are in this class have money sitting not benifitng any body.
ReplyDeleteThe backend costs of the 85 richest people having the same amount of wealth as the bottom 50 is that these people have too much power. The wealthy are able to influence entire economies. If they want, they could pour their money into a certain industry and it would boom. They could also take their money out of economies and watch them crash and burn. The amount of control that they have is too much. Another backend cost is that since they control so much of the world's resources, it creates gaps between social classes thus, even further shrinking the middle class throughout the world.
ReplyDeleteIt disgusts me to know that no matter how hard I work in life or how good of a person I strive to be, I will never get the actual compensation I deserve for it. Those who control all of the wealth have far too much power that is-in some cases- not even deserved. This much power in contrast with the little power that the bottom fifty percent is in possession of is what clearly defines the shrinking of the middle class and more of a have and have-not society. These 85 people basically control the world's economy, and to me, this is unfair because money isn't what really matters in life- or in the universe. (Many of these people may have gained wealth by means of immoral actions.) These people should not just sit on their wealth, but use it to help the world and it's economies to grow and prosper.
ReplyDeleteThe backend cost of the world’s 85 richest people having the same wealth as the bottom 50% is a great deal power. As stated in the article Oxfam International says the world elite bend laws in their favor. I feel this is wrong because they are most likely thinking about themselves and not all citizens. Another backend is that the chronic gap between the richest and poorest citizens, which are going to cause serious damage globally in the coming decade. Also the growing gap is the biggest global risk in 2014. We need to somehow restore the gap or lessen it because nobody can afford to be in the position of global damage. The world’s 85 should put money out into circulation to get the economy going, and do better with their money since they have the power to do so. Finally, another backend cost is taxes. It is not fair at all that they pay less tax, and there are people here struggling on little and have to pay normal amount of taxes. Maybe two or three of the 85 are doing something to help the economy, but that does not match up to the other 83 or 82 who are sitting on their money, keeping it warm this winter.
ReplyDeleteHaving all of this wealth in the hands of so little people is a very serious issue. There are many back end costs from the wolds richest individuals having as much money as they do. For example, they get a serious amount of power because if they dont spend their money there could be serious issues with the economy. that power can cause a lot of issues such as them making sure certain laws or verdicts go in their favor. if it doesnt work with them then they could hold their money and bam then you have problems with the economy. All of the money the worlds 85 richest have is diminishing a already basically unnoticable middle class and making a larger and larger lower class. All in all, all this money gives them basically the power to do almost anything that they choose to do, despite how unfair it may be. you really dont have much of a choice because if theyre unhappy there will be reprecussions.
ReplyDeleteThis is what happens in an economy that is quick to protect big companies. I mean the paper work and the research required to make a product or start a business is overwhelming. I believe the governent has intentionally or has unintentionally made the economy this way. The fact that the world's 85 richest have the same wealth as the bottom 50 percent is astonshing. I mean goverenment exists so the pie (a countries resources) can be divided for all whether it is divided evenly or not. I mean at this rate anarchy is going to become a real problem. Money is a measurement for work. A doctor's job is considered to be worth more than a teacher's job. This is becuase society believes the work done by a doctor has a greater measurement than the work done by a teacher. I point this out because when you become part of the one percent you basically don't have to work. This means that they are recieving money based off of someone else's work. It is true that without this one person the company wouldn't have existed, but is it not true that there is business is reliant on employees to make it expand. It seems like we are going to back to the past in the reguard that when slaves were finally freed in amercia they were tricked into renting land from the same people who had enslaved. The former slaves who fell for this trick were worse off now that they were in debt to there former owners. All in all, the goverenment in my opinion is inexperienced in making an equal and fair society due to the fact that there are none.
ReplyDeleteThe backend cost of having half the monies controled by 85 people is a high income inequlity. The bottom half of the popultion wont have enough to feed itself, so they will have to relie on the other half for food. Another backend cost is that money talks and the 85 people can have their money talk in poltics to favor polices that will help them. The 85 people can do whatever they want because their money protect them. Another backend cost is they probaly wont have to pay taxes. First because the tax brackets favor them and would own less and so much of their income is disposable that they can give to "charies."
ReplyDeleteAccording to the article, the richest 85 people in the world have as much wealth as the bottom 50 percent. One of the backend costs of having so much wealth in the hands of so few is how the world's wealthiest 1 percent have $110 trillion in assets, 65 times the wealth of the poorest 50 percent of the world's population. In America we face that problem as we speak, while we speak about the situation now, imagine how it will be in the future. Having these individuals obtain such wealth would create a gap that will not be able to be mended . While the lower class is paying more, the upper class is getting bulkier and paying less. It is unfair that lower class has to pay more when there are people with money who can actually pay more and don’t even help the poor.
ReplyDelete