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Old 11-14-2017, 08:29 PM   #1
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Default World's richest 1% control more than half of all wealth

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Wealth creation is on the rise around the world, but not everyone is sharing equally in the newfound riches.

Since the Great Recession, the richest global citizens have benefited far more from the worldwide increase in wealth than their poorer countrymen, according to a new report from investment bank Credit Suisse. The result? The top 1 percent of global citizens own 50.1 percent of all household wealth, up from 45.5 percent in 2000, the study found.

Widening wealth inequality has been a hallmark of the post-recession economy, causing policy experts and lawmakers to question whether the impact could do everything from stunt the U.S. economy to shorten people's lives. The wealth gap recently spurred credit rating agency Standard & Poor's to warn that worsening inequality could hamper long-term economic growth by dampening social mobility and creating a less-educated workforce.

Credit Suisse's findings may add to the debate over tax reform and which groups stand to grab the lion's share of benefits from Republican proposals to cut taxes. Critics say both the House and Senate tax reform plans will favor the rich over the middle class by taxing businesses at a lower rate and potentially lowering capital gains taxes for some households, which they say could exacerbate income inequality... More ... (CBS News/MoneyWatch - 14 Nov 2017)

RELATED: Global Wealth Report 2017 [pdf-68 pages]... (Credit Suisse Research - 14 Nov 2017)

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Old 11-14-2017, 11:35 PM   #2
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Default The Latest Report Indicates The 1% Got Wealthier After 2008

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The Latest Report Indicates The 1% Got Wealthier After 2008 ~ RunTime 15m:21s

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