Oxfam calls for 'billionaire-busting' policies, says the world's top 1% has been getting richer much faster than everyone else
Governments around the world need to reduce the number of ultra-wealthy people by adopting"billionaire-busting policies," Oxfam said in aThe UK-based group of non-profits said in the report the richest people have grabbed nearly two-thirds of $42 trillion in new wealth created since 2020 — when the COVID-19 pandemic started. That's twice as much as what the rest of the 99% managed to amass in new wealth, Oxfam said citingAs a reflection of this growing wealth disparity, at least 1.
It's also seeking a permanent increase in the taxes of the richest to at least 60% of their income — in particular, Oxfam is calling on governments to raise taxes on capital gain. Just four cents of every tax dollar come from wealth taxes, according to Oxfam's analysis based on data from the Organisation for Economic Co-operation and Development.
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