The richest One Percent of the world’s citizens have gobbled up more of the world’s wealth, and are poised to own a clear majority of everything by next year.  That’s according to a study by the charity Oxfam, which released the alarming statistics just before billionaires and politicians gather at the annual World Economic Forum in Davos.

“We want to bring a message from the people in the poorest countries in the world to the forum of the most powerful business and political leaders,” said Oxfam International executive director Winnie Byanyima.  “The message is that rising inequality is dangerous.  It’s bad for growth and it’s bad for governance.  We see a concentration of wealth capturing power and leaving ordinary people voiceless and their interests uncared for.”

Oxfam says One-fifth of the world’s billionaires “have interests in the financial and insurance sectors” and made their hoards of cash increase by 11 percent in the past year.  Pharmaceutical and health-care billionaires saw a 47 percent rise in their collective worth.

Oxfam says the One Percent’s portion of the world’s wealth went from 44-percent in 2009 to 48-percent in 2014.  The least well off 80-percent owns just 5.5 percent.  It shows that despite the global conversation about increasing inequality, the richest among us are simply getting richer.

On Tuesday (Wednesday in Oz), US President Barack Obama will talk about inequity in his annual State of the Union address, and propose higher taxes on the wealthiest to pay for tax cuts for the Middle Class and community college for all students.  With conservative republicans holding majorities in both houses of congress, these proposals are sure to go nowhere.