THE imposition of higher taxes to people with larger fortunes has become an “urgent” need as the poorer suffer Accelerated inflation and the closed club of billionaires are growing due to rising prices and previously the new coronavirus pandemic, non-governmental organization Oxfam in an announcement he makes public today, on his occasion World Economic Forum in Davos, Switzerland.
“Billionaires are coming to Davos to celebrate the incredible increase in their fortunes.” notes the Gabriela Boucher, the NGO’s director general, according to the text, which points out that inequality, already frightening before the pandemic, has passed “to another level”.
As Ms. Boucher explains, “the new coronavirus pandemic and now the huge increases in food and energy prices have been, to put it simply, a golden vein for them,” referring to the billionaires.
The pandemic, which mainly favored the explosion of corporate stock prices in the field of technology, created a new billionaire every thirty hours, bringing the very rich to 537 today, says Oxfam, which is based on Forbes magazine articles about the people with the greatest fortunes and data from the World Bank.
This wealth is reflected in the fact that 263 million people will be plunged into extreme poverty this year, the NGO said, due to rising inflation in most parts of the world, driven by food and energy prices. That number means that one million people will be plunged into extreme poverty every hour that passes, he explains.
“We are going backwards in decades of extreme poverty, with millions of people facing rising costs that they are unable to cope with simply to survive.” stigmatizes Mrs. Boucher.
To alleviate the situation, Oxfam is calling to take various tax measures, among them an extraordinary end in solidarity with the new big fortunes, that is, those of the people who became billionaires during the pandemic, in order to use the proceeds to provide support to the poorest and to have a “fair and lasting” recovery after the pandemic.
He also proposes to tax at a rate of up to 90% the inconceivable profits announced in recent years by multinationals in the agri-food sector, the pharmaceutical sector, the oil sector, among others.
Then, in Oxfam’s view, the imposition of more permanent taxes on large estates.
Imposing a large property tax of just 2% on millionaires and 5% on billionaires would contribute 2.52 trillion. dollars on an annual basis, estimates the non-governmental organization. That amount would lift 2.3 billion people out of extreme poverty around the world, distribute vaccines around the world, and provide universal insurance and health care to middle- and low-income citizens, Oxfam said.
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