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Global POVERTY: Eradication or Alleviation

Global POVERTY: Eradication or Alleviation. By A.M.Farahat. Global Poverty: A Premise. Half a million children die every year from rotavirus Roughly one billion struggle to survive on less than one dollar purchasing power a day

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Global POVERTY: Eradication or Alleviation

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  1. Global POVERTY: Eradication or Alleviation By A.M.Farahat

  2. Global Poverty: A Premise • Half a million children die every year from rotavirus • Roughly one billion struggle to survive on less than one dollar purchasing power a day • UNICEF: 10 million children die every year from avoidable poverty-related causes i.e. 30000 every day • Diseases affecting the poor are of no commercial interest to pharmaceutical manufacturers because the poor can’t afford them

  3. Combating Poverty: Ethical Considerations • Should the rich give? • Why? • How much? • Bill Gates • Warren Buffett • Zell Kravinsky • Paul Allen • Liam Murphy • Obligations of developed countries: ODA

  4. Millennium Development Goals (MDG’s)

  5. Achieving MDG’sCost, Commitment and Gap • Cost: Jeffrey Sachs: • 2006 $121 billion • 2015 $189 billion • Current ODA: • 2006 $73 billion • 2015 $115 billion • Gap: • 2006 $48 billion • 2015 $74 billion

  6. Bridging the GapObligation of the Developed Countries 1. The USA Highest 0.01% taxpayers contribute 1/3 their income • No. of tax units (families) 14400 • Min. income $ 5 million • Average earning $ 12.775 million • Total earning $ 184 billion • Average contribution $ 4.3 million • Average annual income after contribution $ 3.3 million • Total contribution $ 61 billion

  7. Bridging the GapObligation of the Developed Countries 1. The USA Remainder of 0.1% taxpayers contribute 1/4 their income • No. of tax units (families) 129600 • Min. income $ 1.1 million • Average $ 2 million • Average annual income after contribution $ 846000 • Total $ 65 billion

  8. Bridging the GapObligation of the Developed Countries 1. The USA Remainder of 0.5% taxpayers contribute 1/5 their income • No. of tax units (families) 575900 • Average income $ 623000 • Min. income $ 407000 • Average annual income after contribution $ 325000 • Total $ 72 billion

  9. Bridging the GapObligation of the Developed Countries 1. The USA Remainder of 1% taxpayers contribute 15% of their income • No. of tax units (families) 719000 • Min. income $ 276000 • Average income $ 327000 • Average annual income after contribution $ 234000 • Total $ 35 billion

  10. Bridging the GapObligation of the Developed Countries 1. The USA Remainder of 10% taxpayers contribute 10% of their income • No. of tax units (families) 13 million • Min. income $ 92000 • Average income $ 132000 • Average contribution $ 13200 • Average annual income after contribution $ 83000 • Total $ 171 billion

  11. Bridging the GapObligation of the Developed Countries 1. The USA TOTAL USA = $ 404 billion

  12. Bridging the GapObligation of the Developed Countries 2. Other OECD Countries Same as USA, i.e. $ 404 million

  13. Eradication or Alleviation • Total OECD countries $ 808 billion • This is more than 6 times the MDG’s cost in 2006

  14. Concluding Remarks • Awkaf • Zakat

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