Thread by @docrussjackson

The already grotesquely wealthy richest 1% pocketed two-thirds of ALL new wealth ($26 TRILLION) created since the pandemic began.

They own most platforms, press, & media, fund free-market think tanks, & bribe, support, or threaten Govts.

#EnoughlsEnough
theguardian.com/inequality/202…

Food and energy companies more than doubled their profits in 2022, paying out $257 BILLION to already wealthy shareholders at a time when globally, more than 800 million people were going hungry.

#EnoughIsEnough #TaxTheRich

Only 4 cents in every dollar of tax revenue came from wealth taxes, & around half the world’s 2,700 or so billionaires live in countries with no inheritance tax on money they give to their children. The UK has around 170 billionaires, many of whom have non dom status.
#TaxTheRich

A tax of just 5% on the world’s multimillionaires & billionaires could raise $1.7 TRILLION (an almost unimaginable amount) a year - enough to lift TWO BILLION people out of poverty, & fund a global plan to end hunger.

#EnoughIsEnough #TaxTheRich

mkorostoff.github.io/1-pixel-wealth/

Not all rich people are greedy selfish bastards, but what do those who ARE greedy & self-interested multimillionaires & billionaires - along with the governments (like the UK's) they fund & who represent their interests - do to protect themselves from democracy & the 99%?

The level of net wealth that marks the threshold for entering the top 1% varies widely among different countries & territories eg to be in the top 1% of earners in the US, you need to bring in $600K/yr, & in terms of net worth, have around $11million (in the UK about £2million).