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Sun Jan 20, 2019, 08:42 PM

Gap between rich and poor growing, fuelling global anger: Oxfam

Also:
Richest 1 percent bagged 82 percent of wealth created last year - poorest half of humanity got nothing (Oxfam International)
World's 26 richest people own as much as poorest 50%, says Oxfam (The Guardian)

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Source: Reuters

NEWS FROM THE 2019 WORLD ECONOMIC FORUM JANUARY 20, 2019 / 7:21 PM / UPDATED 21 MINUTES AGO

Gap between rich and poor growing, fuelling global anger: Oxfam

Hereward Holland
2 MIN READ

NAIROBI (Reuters) - Tax systems that put a high burden on the poor mean public services are underfunded, stretching the gap between rich and poor and fuelling global public anger, Winnie Byanyima, executive director of Oxfam International, said on Monday.

The Nairobi-headquarted charity said in a report that a new billionaire was created every two days last year, just as the poorest half of the world’s population saw their wealth decline by 11 percent.

The report, released on Monday as political and business leaders gather for the annual World Economic Forum in Davos, Switzerland, said governments are increasingly underfunding public services and failing to clamp down on tax dodging.

“Poor people suffer twice from being deprived of basic services and also paying a higher burden of taxation,” Byanyima said in an interview.

Billionaire fortunes increased by 12 percent last year, or $2.5 billion a day, while the 3.8 billion poorest people saw their wealth drop $500 million every day, Byanyima added.

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Read more: https://www.reuters.com/article/us-davos-meeting-inequality/gap-between-rich-and-poor-growing-fuelling-global-anger-oxfam-idUSKCN1PF00P

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Reply Gap between rich and poor growing, fuelling global anger: Oxfam (Original post)
Eugene Jan 2019 OP
c-rational Jan 2019 #1

Response to Eugene (Original post)

Sun Jan 20, 2019, 09:17 PM

1. Yes indeed. And to add fuel to the fire, I read a recent index which shows wages are not keeping

up with basic costs. People are stressed. No longer will hard work give many a decent life, And because we have been brain washed into a false dream many feel they are failing personally.

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