Politicians need to act to reduce wealth gap

A recent report from Oxfam showed the 80 richest individuals on the planet have the same wealth as the poorest 50% (3.5 billion people).

In cash terms, their wealth has doubled in the last five years. They predict that by 2016 the wealth of the richest 1% will overtake that of the rest of the world’s population combined.

I believe capitalism is the best system to lift people out of poverty but when the gap in wealth has widened to this extent, then something has gone awry. Figures also show the very rich have become increasingly adept at finding ways of paying less and less tax and their positions of influence grant them unfettered access to policy makers.