BILL GATES on Global Wealth Inequality

 When the great and the good met at last year's Davos event to discuss the major global challenges to prosperity and well-being, it was clear that one theme dominated all others – inequality.

But has anything changed since then? Before last year's event, Oxfam found that 85 people have as much wealth as half of the world. This year that figure has been updated to just 80.

The decision by the European Central Bank to begin €1.14 trillion quantitative easing (QE) program will eventually reinforce inequality within Europe and have serious political consequences, billionaire George Soros told RT in Davos.

“Excessive reliance on monetary policy and attempts to enrich the owners of property will not relieve the downward pressure on wages,” said Soros to a question from RT during a news conference in Davos. He says it’s too early to react to QE measures in Europe, but they will clearly deepen the crisis of trust between the rich and the poor. The World Economic Forum in Davos has long been criticized by experts and social organizations, as many of them believe the world’s most rich and powerful people, who are actually behind the current crisis, are gathering at a super expensive forum while the world is tanking.

The evidence that large income differences have damaging health and social consequences is very strong and in many countries inequality is increasing. Narrowing the gap is vital to improve our health and well-being. We just need those meeting in Davos to recognise this and act.

Companies and U.S. citizens shifting profits and income offshore are bilking the U.S. government out of $100 billion in tax revenue a year, according to a new analysis by a congressional research group.
Those using offshore tax havens to skirt paying taxes cost the U.S. government “around $100 billion per year,” according to the Congressional Research Service (CRS), which examined in a new report the many ways in which people cheat the government.
“This activity appears to have increased substantially in recent years,” the report notes.
“The federal government loses both individual and corporate income tax revenue from the shifting of profits and income into low-tax countries,” researchers found. “The revenue losses from this tax avoidance and evasion are difficult to estimate, but some have suggested that the annual cost of offshore tax abuses may be around $100 billion per year.”

Bill Gates is now promoting “digital currency” in third-world countries, which will make the poor even more dependent on central banks while also turning them into guinea pigs for the development of a “cashless society” in the U.S. and Europe.

Gates outlined his plan for a cashless society in a letter published Thursday in which he proposed the poor have better access to mobile phones so they can store their financial assets digitally instead of keeping hard currency at home.

“The key to this will be mobile phones,” he wrote. “Already, in the developing countries with the right regulatory framework, people are storing money digitally on their phones and using their phones to make purchases, as if they were debit cards.”

“By 2030, two billion people who don’t have a bank account today will be storing money and making payment with their phones.”Billionaire Bill Gates wants to quench the world’s thirst. But instead of inventing a new method of utilizing rain water, the computer programmer wants people to drink recycled poop.





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