European leaders are scrambling to curtail 'income inequality' after 'shocking' report sparks fear

According to a report by the House of Commons library, the world's richest 1 percent are on their way to controlling "two-thirds of the world's wealth by 2030."

The Guardian reported that "world leaders are being warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore the balance."

The analysts who produced the report attribute this theory to the 2008 crash. If financial patterns continue, they believe the top 1 percent of wealthy individuals will control 64 percent of the world's wealth and significantly gain a disproportionate amount of influence with world governments.

What kind of "actions"?

Leaders in Europe are discussing policies that will slow down income inequality such as rewriting economic policies, pressuring global leaders to back policies that redistribute or restructure wealth, and campaigns. One campaign, in particular, has been spearheaded by actor Michael Sheen against high-interest credit cards.

The group is endorsing policies that would ensure wages rise and reform the capitalistic markets to stall inequality.

Pat's take:

He thinks it's asinine and ridiculous that capitalism continues to be villainized by leftists. "They're not controlling the world's supply of wealth," asserted Pat. "They're just adding to what they have."

"That doesn't mean I can't go out and add to my wealth. If you live in a capitalist system, it's up to me to go get my own wealth."

See Pat's reaction to this report above. 

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