| Title | World's Top 26 Billionaires Now Own as Much as the Poorest 3.8 Billion | |
| Date | Tuesday January 22 2019, @10:32AM | |
| Author | takyon | |
| Topic | ||
| from the self-made-trillionaire dept. | ||
Global wealth inequality widened last year as billionaires increased their fortunes by $2.5 billion per day, anti-poverty campaigner Oxfam said in a new report.
While the poorest half of humanity saw their wealth dwindle by 11%, billionaires' riches increased by 12%. The mega-wealthy have also become a more concentrated bunch. Last year, the top 26 wealthiest people owned $1.4 trillion, or as much as the 3.8 billion poorest people. The year before, it was the top 43 people.
[...] To address many of these ills, Oxfam advocated raising taxes. It estimated that a 1% wealth tax would be enough to educate 262 million out of school children and to save 3.3 million lives. As of 2015 returns, Oxfam says that only four cents in every tax dollar collected globally came from tariffs on wealth, such as inheritance or property. The report also claims that the rich are hiding $7.6 trillion in offshore accounts
Previously: Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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