web desk) – It seems that the world’s wealth has been divided into two shares, one is being held by the whole world while the other share is actually owned by only five people.
According to the statistics issued on June 8, 2017, the rich people have grabbed $196 billion from the developing states in the form of trust, tax and subsidy while they have earned $194 billion from the poor states by utilizing their middle and lower classes. $1700 per person was deposited to the accounts of these well-off people.
The report also suggested that some rich people were dominating 90 percent of the world’s wealth in 2016. However, their assets continued to increase from $800 billion to $250 billion despite severe crisis in the past eight years.
According to American artist Paul Buchheit, these people have no such talent and skill as Bill Gates had done no research and was also not having an extraordinary mind but only fate mattered in his case.
Mark Zuckerberg and Jeff Bezos put the base of latest technology on the tax of common people and took subsidy in the name of research. By this, income from the taxes was transferred to the multi-national corporations.
In 1975, 20-year-old Bill Gates laid foundation of Microsoft with his high school buddy Paul Allen. At that time, the CP/M operating system of Gary Kildall was working on the international standard but he was lacking money. International Business Machines Corporation (IBM) was having capital but lacking skilled people like Kildall. The company gave chance to Bill Gates and signed an agreement with him due to delay in the submission of Kildall’s research.
His innovation was based on Kildall’s system who thought of filling a suit against the company and Bill Gates but there was no such property right law present for the software industry at that time.
Bill Gates has recently introduced a response monitor to test the reactions of the students. This invention will basically help teachers to check the performance of the students through video tape for better results in the educational institutions. Schools principals will have authority on the system but its monitoring will be given to the mayor.
Housing business is on peak in America as Jeff Bezos earned $50 billion in only 2 years and selected tax haven to avoid tax payment. He used powerful lobbies, paid them and evaded tax. Bezos has profited greatly from the internet and the infrastructure built up over many years by many people with many of our tax dollars.
Similarly, Warren Buffett, an American business magnate, is supporter of escalating the tax ratio on rich people but on the other hand, he finds his way to escape from the tax. His company presented a tax statement and saved tax on $77 billion real estate business.
Mark Zuckerberg is America’s fourth and world’s sixth richest man who is known as ‘Facebook man’ across the globe. Adam Goldberg was also doing the same thing in the past times and formed inspiring social networking site ‘Campus Network’ but he was deprived of proper financial support from Howard University.
Some departments have also formed donation organizations to evade tax payment and to use the money for their own purpose. Rich people in US have earned the wealth on such inventions, researches and innovations which are based on common men.
Some people say that there will be no poor country in 2035, which is right, as corporations will be controlling their resources.
This article first appeared on Dunya News