The Wealth of the Rich Twice That of the Rest of the World

Economic anxiety has started to show its existence day by day, especially after the pandemic. However, there are some people in the world who are afraid of this economic concern. They lead a completely exempt life.

International humanitarian organization Oxfam, in its report, says that the wealthiest 1% of the world twice as rich as the remaining 99% revealed. It was also mentioned in the report that this excessive enrichment should be prevented.

The rich get richer while the poor get poorer

According to Oxfam’s report, individuals and companies in the 1% of the world’s richest list have been around since 2020. adding $2.7 billion to their fortunes every day In countries where 1.7 billion workers live, it was announced that inflation exceeded the minimum wage. According to the calculation made, this 1% cut is during the pandemic. $26 trillion while making wealth, the remaining 99% are only $1.7 trillion was able to earn. Of course, this 1% includes people like Elon Musk and Jeff Bezos, but the majority of the list world giant consists of national companies.

The report also “While ordinary people have to sacrifice their vital needs such as food, shelter and similar due to the inflation caused by the pandemic, ‘‘super rich’ making your wildest dreams come true.” Statements were included.

Gradual taxes should be introduced on the “super-rich”

Oxfam, who argues that while ordinary people became poorer since World War II, companies have become stronger and created super-rich and this should not be a new world order, Oxfam advocates gradual taxation regulation for these super-rich and companies. In this way, companies and individuals can benefit from their net wealth and earnings. taxable gradually and fairly.. In the report, which also gives an example of tax injustice, the net tax rate of Elon Musk, the richest person in the world, in 2018 is only is 3% but the flour seller in Uganda, Aber Christine, who earns $80 a month Since you pay 40% tax is mentioned.

The report also states that in the last 40 years, while almost all countries in Africa, Asia, Europe and the Americas have reduced the tax rate on the rich, taxes on ordinary citizens and services such as health and education have increased at the same rate. The biggest reason for this is that countries keep these rich and super-rich in the country and want them to invest in the country. Unfortunately, this tax inequality does not affect governments that much, while ordinary citizens lowers living standards.

Oxfam also offers governments a one-off proposes levying a “wealth tax” on the super-rich and corporations.