Article shared by Baquer Namazi
How can we contribute to a fairer income and wealth distribution, ensuring prosperity for all?
Baquer
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Summary
Oxfam reports that the world's first trillionaires will emerge within a decade as billionaire wealth surged by £1.6 trillion in 2024, reaching £12.1 trillion. Despite this, global poverty levels have remained stagnant since 1990. Oxfam warns that billionaires increasingly influence economic policies, with figures like Trump and Musk symbolizing a growing global oligarchy. The number of billionaires rose to 2,769, with the 10 richest men gaining $100 million daily. Oxfam and outgoing President Joe Biden call for higher taxes on the wealthy, breaking monopolies, and ensuring fair wages. Meanwhile, wealth inequality continues, with poorer nations struggling under debt and life expectancy gaps persisting. Newly inaugurated President Donald Trump, an advocate for wealth accumulation, is set to address the World Economic Forum.
Key quote
"What you're seeing at the moment is a billionaire president taking oaths today, backed by the richest man. So this is pretty much the jewel in the crown of the global oligarchies." – Amitabh Behar, Oxfam
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