TRICKLE DOWN ECONOMICS FAVOURS THE WEALTHY.
The wealthy (top 1%) say that the more money they have, the more money is spent and invested in the country, which in turn helps those with little or no money (bottom 20%). THIS OBVIOUSLY DOES NOT WORK. Where the top 1% gain, and the bottom 80% lose. Wealthy people are big savers and hold this money in various accounts.. as they hold more and more of our countries wealth, they leave more people in poverty in the UK than ever! Inequality in income has increased since the 1980’s, because of privatisation, decline in manufacturing and industry, long term unemployment, wage inequality etc.
In an article for The Guardian, Alex Andreou writes that “The richest 85 people in the world have as much wealth as the poorest 3.5bn.”
http://inequality.org/wealth-inequality/ – On this very interesting site, they claim that the share of total income taken by the richest in Britain has doubled from 7.1% in 1970 to 14.3% in 2005. These are troubling times!