Another interesting British documentary from the BBC and Jacques Peretti on Knowledge Network.
Paraphrased notes:
Documentary claims 85 people have as much wealth as half the world's population.
Claims these wealthy have become more so since the 2008 recession. The point where many people in the Western world suffered more.
The super-rich is the top 1% of wealthy.
Trickle-down economics was the assumed economic system by the United Kingdom and the United States since the late 1970's and early 1980s.
A supporting economist interviewed called it trickle-through economics.
The documentary claims 99% people in the United Kingdom are not getting wealthier.
Inflation is making many people in the United Kingdom, poorer.
The United Kingdom has become a tax haven for the wealthy and the 1% to avoid paying taxes with certain government laws and the use of tricky tax accountants. Some accountants and agents being former government employees.
The same supporting economist of trickle-through economics states that equality is good as long as society is generally getting wealthier, not a forced 'equality' getting everyone poorer.
A leading economist stated a robust middle-class was vital for any Western economy, but the middle-class was disappearing.
Property in London, especially (and Vancouver, my add) is unaffordable for most. The documentary and a leading economist blamed this on foreign ownership of property in London by 'Non-domiciled' residents, British residents who have their permanent home ('domicile') outside the United Kingdom may not have to pay British tax on foreign income. Income generated or money held outside the United Kingdom is nontaxable.
