Oxfam stated at the Davos summit that the CO VID-19 Pandemic created a new billionaire every 30 hours. According to Oxfam what they have expressed, the shocking possibility of poverty is going to force countries worldwide to think. If Oxfam's claim came into existence, this year 263 million people around the world will go into extreme poverty. However, to avoid this situation, Oxfam has discussed taxing the rich class or business tycoons.
According to research, the inequality between rich and poor can be gauged from the fact that a worker in the bottom 50% would have to work 112 years to earn what someone in the top 1% earns in a single year.
World Economic Forum Annual Meeting 2022 was organized, in which rich and powerful countries from all over the world gathered. In this meeting, Oxfam said on Monday that a new billionaire (Every 30 hours New Billionaire) is seen emerging every 30 hours during the COVID-19 pandemic. Saying this, Oxfam said that the time has come when the rich should be taxed to support and balance the less fortunate.
On the other hand, Oxfam International has predicted that 263 million people will become very poor this year. According to Oxfam figures, 1 million people will become poor every 33 hours worldwide. Oxfam Executive Director Gabriella Butcher stated that the billionaires and lucky ones are arriving in Davos to celebrate the incredible growth in their business.
Oxfam International Executive Director Gabriella Butcher said that the pandemic and now rising energy and food prices have become a direct boon to the rich. Butcher said millions of people around the world are facing an impossibly high cost of living just to survive.
According to Gabriella Butcher, a major result of privatization has been that the rich have captured a large and astonishing amount of the world's wealth. In such a situation, super-rich people have been taking advantage of it by rigging the system for decades, surprisingly it is also happening with the connivance of all the governments.
Butcher continued, "Meanwhile, millions of others are skipping their meals, running every day to pay their daily bills, and wondering what they can do next to survive or run a family. This all sounds normal but it is a very dangerous situation to push into poverty. It is this inequality that kills poverty.
With inflation rising around the world, these price increases remain especially devastating for low-wage people. The health and livelihoods of these marginalized people have already been made most vulnerable by the COVID-19 pandemic. Oxfam said that people in poor countries spend more than twice their income just to get food compared to rich countries.
According to Oxfam, one person in North Africa is dying of hunger every minute. This is a huge inequality that is destroying the bonds of humanity. He said that this inequality will kill people. Along with this, these difficulties have increased in front of the laborers and now after Corona, the workers and working-class are struggling with the highest price for decades.