Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
id597591914
top 1% worldwide grabbed 42 trillion in new wealth created, close to twice as much as the bottom 99% of the global population.
id597591761
since 2020, adding around 1 in wealth gained by a person in the bottom 90% of the global income distribution.
id597591379
at least 95 food and energy corporations more than doubled their profits in 2022, bringing in $306 billion in windfall profits and dishing out 84% of it to their shareholders.
id597591578
“Every billionaire is a policy failure,” the report says. “The very existence of booming billionaires and record profits, while most people face austerity, rising poverty, and a cost-of-living crisis, is evidence of an economic system that fails to deliver for humanity.
id597591603
governments, international financial institutions, and elites have misled the world with a fictional story about trickle-down economics, in which low tax and high gains for a few would ultimately benefit us all. It is a story without any basis in truth.”
id597596421
permanently increase taxes on the richest 1%… to a minimum of 60% of their income from both labor and capital, with higher rates for multi-millionaires and billionaires.”
Oxfam also urges governments to “tax the wealth of the richest 1% at rates high enough to significantly reduce the numbers and wealth of the richest people, and redistribute these resources. This includes implementing inheritance, property, and land taxes, as well as net wealth taxes.”
✏️ The name of the game is taxation.. Tax all their stuff and prevent them from being able to hoard wealth.
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