Thursday, March 10, 2016

Ending Poverty

The current 10 percent poverty rate in Georgia could be brought to zero, if the country's richest person, Bidzina Ivanishvili, would donate half his assets of USD 5.2 billion.

The 41 percent poverty rate of Swaziland's population of 1.3 million people could be brought to zero, if the country's richest citizen, Nathan Kirsh, would donate half of his wealth of USD 3.9 billion.

In the Philippines, 12 percent of the country's population of 100 million live below the poverty line. This rate could be reduced to 3 percent, if the richest Filipino, Henry Sy, would give away half of his fortune of USD 14 billion.

In India, where 12 percent of the country's population of 1.3 billion live in poverty. If the country's richest person, Mukesh Ambani, would bestow half his wealth of USD 21 billion, the poverty rate could be cut to only 10 percent. But if all 90 of India's billionaires would join, poverty could be eliminated.

China, where, like in most countries, today's poverty rate is already much lower than in the past due to decades of strong economic growth; therefore at present, only 3 percent of the 1.3 billion Chinese live in poverty. This rate could be cut by one-third, to 2 percent, if China's richest citizen, real estate tycoon Wang Lianjin, would give away half his fortune of USD 24.2 billion. Poverty in China would be eliminated if all 213 of China's billionaires would donate half of their accumulated wealth of USD 565 billion. Moreover, USD 258 billion would be left over.

 But better still, why not expropriate all of those billionaires. After all, their wealth comes from the theft of our collective labour. 

1 comment:

Sid Knee said...

Of course, as I humbly suggest you know, if we expropriated the wealth without abolishing capitalism and the wages system, the wealth would merely end up back in the hands of the expropriators.