$240 billion is enough to end global poverty? LOL
I don't buy it either. The U.S. spends over $100 Billion a year on food stamps alone, and who knows how much on other welfare programs. To think that $240 Billion would wipe out poverty worldwide is ridiculous. Incidentally, if the $240 Billion were spent on poverty programs instead of Rolls Royces and other luxury items, what would happen to all the people who work in factories making those luxury products? Libs can't bring themselves to think about those kind of unintended consequences.
Honestly, it isn’t even arguing with these morons about finance, or anything else for that matter. They aren’t equipped to think. They just have a goal for control over others’ lives and that’s just it...
Don't laugh. The claim was not to end global poverty, but to end extreme poverty world-wide (with $60 billion/year). Extreme poverty as Oxfam uses the term is non-existent in the developed world (leaving aside those deinstitutionalized mentally ill homeless folks who haven't the wit to plug into government or charitable services for the homeless). They are probably using a definition of $1 U.S. (or 0.5 GBP) per day in income at purchasing power parity conversion, though they might be using the World Bank's $1.25 U.S. per day. And yes, that level of poverty could be abolished through the judicious use of $60 billion/year -- abolishing poverty qua poverty is a fool's errand as Our Lord told us, and abolishing poverty as defined by the U.S. government world-wide is an economic absurdity, but then again, but world standards, the American "poor" simply aren't in poverty (leaving aside again the wretched madmen living on the streets who can't or won't take the charity or state aid available).
This being a report from Russia Today, and Russia being an Orthodox country, it is probably a good time to again remind everyone of the comments of St. John Chrysostom, who famously in his exhortations to Christian charity, in a remark much beloved of the left, said that "the goods of the rich are theft from the poor," on alleviating poverty through state action:
Should we look to kings and princes to put right the inequalities between rich and poor? Should we require soldiers to come and seize the rich person’s gold and distribute it among his destitute neighbors? Should we beg the emperor to impose a tax on the rich so great that it reduces them to the level of the poor and then to share the proceeds of that tax among everyone? Equality imposed by force would achieve nothing, and do much harm. Those who combined both cruel hearts and sharp minds would soon find ways of making themselves rich again.The observation in the RT article should not be taken as a policy prescription for state action, but as a call for the very rich to succor the very poor voluntarily, thereby laying up treasure in heaven where neither thieves break in nor moths and rust destroy.Worse still, the rich whose gold was taken away would feel bitter and resentful; while the poor who received the gold from the hands of soldiers would feel no gratitude, because no generosity would have prompted the gift. Far from bringing moral benefit to society, it would actually do moral harm. Material justice cannot be accomplished by compulsion, a change of heart will not follow. The only way to achieve true justice is to change people’s hearts first—and then they will joyfully share their wealth.
-– St. John Chrysostom on the poor from On Living Simply XLIII
240 billion (4 times over), so divide by 4...
so they are really saying that only 60 billion is needed to end global poverty. Only 25% of what they earned....
240 billion only covers 80 days of barry’s overspending every day of 3 billion.
“$240 billion is enough to end global poverty? LOL”
The article failed to mention that it would end poverty for one month.
Translation > the Author is a fricking hack and joke.