When we hear about development aid, it is usually spewing from the mouth of an isolationist politician. While the conclusion “too many of our tax dollars are funding poor people in other countries” seems logical on the surface, it is flawed. Money does flow from developed nations to developing ones, but it’s barely a drop in the bucket for many wealthy superpowers – even after spending on domestic social programs.
In 2013, $125.6 billion of aid was allocated globally. If that sounds like a lot, it’s really not – at all.
That’s only an average of 0.26% of the hundreds of trillions of dollars that wealthy countries collected as annual income. The United Nations suggest just 0.7% of this income could eradicate poverty by 2030. Yet, convincing countries to ‘donate’ less than 1% of their income is a harder sell than you may think.
Despite some infamous failings, aid has produced some of the greatest success stories in human history. Click here for more information: http://www.globalcitizen.org/Content/Content.aspx?id=5658e791-5cb9-4da2-835f-0dee3ca6020d