Posted by EngineeringProfit > 1 month ago | Report Abuse

Wealth inequality refers to the unequal distribution of assets (such as real estate, stocks, businesses) across a population. The top 1% holding an enormous share of wealth signifies that the remaining 99% of people have very limited access to wealth-generating resources.

Posted by EngineeringProfit > 1 month ago | Report Abuse

T1, this small elite holds significant economic power, which can influence politics, shape economies, and control labor markets.

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When wealth is concentrated among the top 1%, lower-income individuals have limited opportunities to climb the economic ladder, often lacking access to quality education, healthcare, or financial services.

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Unlike T1, income for T2-15, the middle and working classes often stagnates, while the costs of essential services like housing, healthcare, and education rise, limiting disposable income and increasing debt.

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The top 1% often hold wealth in stocks, real estate, and other assets that generate high returns, which are often taxed at lower rates than ordinary income. This allows their wealth to grow significantly faster than wages.

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Many within the top 1% inherit wealth, passing down financial and social capital that compounds over generations.

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Real world - United States: In the U.S., data shows that the top 1% holds more wealth than the entire middle class combined.

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Global Wealth Taxation: To avoid wealth moving offshore, governments should coordinate with other nations on a global tax framework to prevent the wealthy from evading taxes by moving assets internationally.

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Strict Executive Pay and Shareholder Limits: Setting extreme caps on executive compensation relative to the lowest-paid workers (e.g., 10:1 pay ratios) could curb wealth accumulation by top executives. Furthermore, limiting shareholder dividends and buybacks would reduce passive income streams for the wealthy.

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Capping Net Worth: Placing a hard cap on net worth (i.e. $50 million per individual) could prevent individuals from accumulating vast wealth. Assets above this cap would be subject to mandatory redistribution, reinvestment in public infrastructure, or donation to public causes.

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Centralized Wealth Redistribution through UBI: Funding a universal basic income (UBI) through a wealth extraction program could provide every citizen with a guaranteed income sourced directly from top 1% assets and wealth.

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Financial Transparency Requirements: Requiring the ultra-rich to disclose all financial activities, investments, and assets would prevent tax evasion and limit financial secrecy.

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Public Accountability for Wealth Accumulation: Regular public reporting on how wealth is earned and used could help deter exploitative practices and promote wealth-sharing initiatives.

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Public Investment in Education and Healthcare Funded by Wealth: Redirecting a portion of the wealth from the top 1% into universal, high-quality education and healthcare could increase opportunities for the 99%, leveling the playing field.

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Spare the T2-15. Data shows that the top 1% holds more wealth than the entire middle class combined.

Posted by EngineeringProfit > 1 month ago | Report Abuse

As a T1 owning few hundred million, I can tell - I have more than all my T2-15 friends have in combination

Posted by EngineeringProfit > 1 month ago | Report Abuse

The major GLICs' top executives often fall within a total remuneration range of MYR 5-10 million per annum, depending on organization size and specific roles.