New report of Oxfam underlines why wealth taxes are necessary

Inequality Inc. OXFAM report Davos 2024

From the report "Inequality Inc", Oxfam, January 2024

(16 January 2023) The global NGO  Oxfam published a new report that draws attention to the extreme wealth and inequality in the world. Since 2020 the 5 richest men on planet earth have doubled their wealth while 5 billion people got poorer. 

This is a huge concentration of global corporate and monopoly power. "Through squeezing workers, dodging tax, privatizing the state and spurring climate breakdown, corporations are driving inequality and acting in the service of delivering ever-greater wealth to their rich owners. " Oxfam advocates for radically redistributing the power of billionaires and corporations back to ordinary people. We need an effective state to do this. 

EPSU, PSI and the ETUC are supporting this. The ETUC has made proposals for wealth taxes in the EU countries. PSI is working with the Independent Commission on Reform of International Corporate Taxation

For the report of Oxfam