In recent years, the richest 1% of people earned more

According to new points Oxfam report, more than US$40 trillion of new wealth was added in 2020, with US$26 trillion of all gain going to the richest 1% of the world's population. The remaining revenue was dispersed among the remaining 99% of the population, counting on $16 trillion of new wealth two years ago.

The Oxfam report made use of data made available by forbesBillionaire’s, Forbes Real-Time Billionaire’s List, and Credit Suisse, which measured the wealth of the world’s richest people.

After the disclosure of the data, the executive director of Oxfam International, Gabriela Bucher, requested that the taxes of the wealthier people are increased: “Strategic precondition to reduce inequality and resurrect democracy”, informed Bucher.

Oxfam report results

The report, published on the Forum EconomicWorld Cup in Davos, Switzerland, reported the breakdown of values: "A billionaire earned about US$ 1.7 million for every $1 of new global wealth gained by a person in the poorest 90%,” reported.

This estimate suggests that wealth indices among the ultra-rich have increased considerably, also accounting for the fact that these same people have accumulated most of the wealth over the last 10 years.

The survey also pointed to the pandemic of Covid-19 as an impediment to ending extreme poverty by 2030.

In recent weeks, several specialists among economists, politicians and researchers have reported that there are crises all over the world. High costs of living, changes in climate and environment, and other external pressures.

When disclosing the Oxfam report to the press, Gabriela Bucher added that tribute policies would serve to better face the crises that are emerging around the world.

The best way out, according to Bucher, is to tax the richest people and the biggest companies: “It's time to demolish the myth convenient that tax cuts for the richest result in their wealth somehow 'dripping down' to all others,” she pointed out.

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