16:34 2 March 2024
The Club of the Wealthy Becomes Increasingly Exclusive
The entry threshold into the elite group of the top 1 percent of the richest is continuously rising. In the USA, to join this club, you now need $5.8 million – a 15 percent increase from last year. Even more impressive is the amount in Monaco – $12.8 million.
The wealth growth of the richest contrasts with the deepening poverty of many nations. Food and energy prices are rising, and the pandemic and war are exacerbating poverty.
Voices calling for the redistribution of wealth and the taxation of the richest are increasingly common. Proposals include a global wealth tax and an increase in tax progression.
Will governments be able to curb the rising inequalities? Time will tell if the elite club of the wealthy will become more open.
