{"id":48022,"date":"2024-01-15T20:00:00","date_gmt":"2024-01-15T19:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=48022"},"modified":"2024-01-15T20:04:02","modified_gmt":"2024-01-15T19:04:02","slug":"rich-get-richer-poor-get-poorer","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/rich-get-richer-poor-get-poorer\/","title":{"rendered":"The rich get richer and the poor get poorer"},"content":{"rendered":"<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>Oxfam&#8217;s latest inequality report shows that since 2020, the world&#8217;s five richest people have doubled their fortunes, while over the same period, almost five billion people have become poorer.<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">On the eve of the annual World Economic Forum in Davos, which brings together heads of state, corporate leaders and academics from around the world, Oxfam has released its latest <\/span><a href=\"https:\/\/www.oxfam.org\/es\/informes\/desigualdad-sa\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> on inequality and <\/span><b>calling on countries to oppose the influence of the ultrarich on tax policy<\/b><span style=\"font-weight: 400;\">. As has become a tradition, the international body uses the occasion to highlight the gap between rich and poor, but this year it says the gap has been &#8220;supercharged&#8221; since the sanitary crisis.<\/span><\/p>\n<p><b>Billionaires are three trillion euros richer today than they were in 2020.<\/b><span style=\"font-weight: 400;\"> According to Oxfam, South African business tycoon Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle&#8217;s Larry Ellison and investment guru Warren Buffett have more than doubled their fortunes by 114% to \u20ac793 billion in three years, while the wealth of the poorest 60% of the population has declined.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The NGO notes that if this trend continues, <\/span><b>the world could see its first trillionaire in the next decade<\/b><span style=\"font-weight: 400;\">, but that it will take 229 years to eradicate poverty. &#8220;We cannot continue with these levels of obscene inequality,&#8221; warns Amitabh Behar, interim director of Oxfam International, &#8220;capitalism is at the service of the super-rich.<\/span><\/p>\n<h3><b>Corporate power vs. public power<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">According to Oxfam, states have ceded power to corporate monopolies, allowing companies to influence the wages people are paid, the price of food and the medicines people can access. <\/span><b>&#8220;Corporate power is used to drive inequality, squeezing workers and enriching wealthy shareholders, dodging taxes and privatising the state,&#8221;<\/b><span style=\"font-weight: 400;\"> says Oxfam.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this context, Behar says the solution must be for public power to <\/span><b>curb &#8220;unchecked corporate power and inequality by shaping the market to be fairer and free from billionaire control&#8221;<\/b><span style=\"font-weight: 400;\">, adding that &#8220;governments need to intervene to dismantle monopolies, empower workers, tax these huge corporate profits and, crucially, invest in a new era of public goods and services&#8221;.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The organisation stresses that thanks to current tax policymaking, corporations have been able to pay lower corporate taxes, <\/span><b>depriving governments of money that could be used to help the poorest in society<\/b><span style=\"font-weight: 400;\">. Seven of the world&#8217;s 10 largest companies have a billionaire CEO, or a billionaire as their largest shareholder.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this regard, the director points out that <\/span><b>corporate taxes have fallen significantly in OECD countries, from 48% in 1980 to 23.1% in 2022,<\/b><span style=\"font-weight: 400;\"> and calls for a wealth tax on the world&#8217;s millionaires and billionaires, which, he says, could bring in $1.8 trillion each year. It also urges governments to limit the pay of CEOs of large corporations and to break up private monopolies.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for <\/b><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.e11onze.app&amp;utm_source=emailing&amp;utm_campaign=CANUT+launch\"><b>Android<\/b><\/a><b> or <\/b><a href=\"https:\/\/apps.apple.com\/us\/app\/11onze\/id1566129237?utm_campaign=El+Canut\"><b>iOS<\/b><\/a><b> and join the revolution!<\/b><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component cards\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-xl-8 offset-xl-2\">\n        <h1>If you liked this news, we recommend:<\/h1>\n        <div class=\"cards__wrapper\">\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/davos-epitome-virtue-signalling\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2023\/01\/THUMBNAIL_ENERGIA_10.jpg\" 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