According to a report published this Monday by the NGO Oxfam, which works to combat the injustice of poverty, the fortune of the ten richest men in the world has doubled since the start of covid-19, while the income of the rest of the world has fallen significantly.
According to what the movement said in the article called ‘Inequalities kill’, it is estimated that the income of the 99 percent of the world population decreased.
“The increase in economic, gender and racial inequalities and inequalities between countries destroy our world”, denounces the NGO. Well, apparently they would have shown that the wealth of billionaires reached “its strongest increase ever recorded, reaching its highest level”, which would be some 13.8 billion dollars.
(Read more: Jeff Bezos and some keys to his success).
The millionaires he refers to would be Elon Musk, tesla boss, Jeff Bezos (Amazon), bernard arnaud (LVMH), Bill Gates (Microsoft), mark zuckerberg (Meta/Facebook), Warren Buffett (Berkshire Hathaway) and Larry Ellison (Oracle), who according to ‘Forbes’ magazine are the richest people today.
Inequality and health care
The organization affirmed that the current inequality contributes to the death of “at least 21,000 people a day” due to lack of access to health care, gender-based violence, climate crisis and hunger.
Although, according to them, the extreme poverty could beat “through progressive taxation” and with a public health system that provides free care to all people.
we can beat extreme poverty through progressive taxation
In addition, it recommended that the creation of trade unions not be hindered and that the intellectual property of the vaccine patents.
Regarding immunization, it was also mentioned in said article that to make up for the lack of vcribs in the world could resort to “an exceptional tax of 99% on the income from the pandemic of the ten richest men” since in this way enough could be produced throughout the world. In addition, this would also be of benefit for the financing of climate adaptation and reduction of gender-based violence in more than 80 countries.
And if this possible solution proposed by Oxfam were to come to pass, the tycoons would still be left with “8,000 million dollars more than before the pandemic”.
(Keep reading: What does Mark Zuckerberg, the creator of Facebook, spend his fortune on?).
The World Economic Forum warned that the great inequalities in access to vaccines against covid-19 could weaken the fight against the main international causes, such as the climate change.
Another aspect to highlight from the article states that the pandemic has been a great financial moment for tycoons, since “Central banks pumped billions of dollars into financial markets to save the economy, much of which ended up in the pockets of billionaires.”
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