Social Justice & Advocacy Column January 24
Survival of the Richest
The world’s top 1 percent grabbed nearly two-thirds of the $42 trillion in new wealth created since 2020, Oxfam says in a new report released to coincide with the annual meeting of the World Economic Forum in Davos, Switzerland.
The share was almost twice as much money as the amount obtained by the bottom 99 percent of the world’s population, according to Oxfam’s “Survival of the Richest” report.
Oxfam said a 5 percent tax on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year, enough to lift 2 billion people out of poverty.
