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The future is equal


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SURVIVAL OF THE RICHEST: HOW BILLIONAIRES ARE AMASSING EYE-WATERING WEALTH AMID
CRISIS


INEQUALITY CRISIS

 * Home
 * Read Our Latest Inequality Report
 * Sign Up For Our Inequality Newsletter


BILLIONAIRE QUOTES


WHO SAID WHAT?



I mean the truth is, I've never had it so good in terms of taxes. I am paying
the lowest tax rate that I've ever paid in my life.

 * Bernard Arnault
 * Warren Buffet
 * Mark Zuckerberg
 * Michael Dell




BILLIONAIRE QUOTES


WHO SAID WHAT?



Eventually they run out of other people’s money and then they come for you.

 * Kylie Jenner
 * Bill Gates
 * Sergey Brin
 * Elon Musk




BILLIONAIRE QUOTES


WHO SAID WHAT?



She (Elizabeth Warren) is trying to demonize wealthy people because there are
more poor people than wealthy people.

 * Leon Cooperman
 * Donald Trump
 * Bill Marriott
 * Alice Walton





Ten years ago, Oxfam first sounded the alarm at the World Economic Forum, about
extreme levels of inequality. Since then, billionaires have almost doubled their
wealth and astoundingly since 2020, the richest 1% have snatched-up almost twice
as much as the rest of the world combined.

Hundreds of millions are facing impossible rises in the cost of living, and
millions are reeling from the pandemic which has already killed over 20 million
people. These crises all have winners. The very richest have become dramatically
richer and corporate profits have hit record highs, driving an explosion of
inequality.

The very existence of billionaires and record profits while poverty and
inequality are both on the rise damning proof of a failing economic system. As a
starting point toward reducing extreme inequality, the world should aim to
dramatically reduce the wealth and number of billionaires between now and 2030,
both by increasing taxes on the top 1% and adopting other billionaire-busting
policies.




FOOD


SKIPPING MEALS?



In recent months, how much more are you spending on food?

USD
Submit




To better understand the rise in energy and food prices, we need to look beyond
the logic of supply and demand. Growing evidence points to corporate profits as
a significant driver of inflation. Not only are companies passing increased
input costs onto consumers, but they are also capitalizing on the crisis, using
it as a smokescreen to charge even higher prices.

Oxfam’s analysis of 95 food and energy corporations found that they made $306
billion in windfall profits in 2022; 84% of this being paid to their
shareholders, making the already rich, even richer. Governments could raise
vital revenue to help fight inequality by implementing one-off taxes on
excessive profits and wealth during crises.




ENERGY


TAKING COLD SHOWERS?



In recent months, how much more are you spending on energy* (electricity, heat,
fuel)?

USD
Submit




 

The traditional explanation for soaring inflation is that it occurs when demand
exceeds supply and pushes up prices, but this logic only partly explains the
rising cost of energy and food. The invasion of Ukraine by Russia did lead to
reduced gas supply which contributed to an increase in the global price of
energy. In the case of food, prices were already rising sharply long before the
war, and the interruption of grain supplies from Ukraine made this problem
worse.

Food and energy corporations have maintained high prices without the threat of
being undercut by competition, and as prices on their end fall, these savings
are being passed to their shareholders rather than consumers. This greed-flation
led to food and energy companies more than doubling their profits in 2022,
paying out $257 billion to wealthy shareholders, while over 800 million people
go to bed hungry every night.


QUALITY OF LIFE


ARE YOU PENNY PINCHING?



Due to the rising cost of living, what have you had to sacrifice to survive?

 * A meal
 * Care services
 * Medical care
 * Hot showers
 * Entertainment
 * Education

Submit




There historically have been progressive measures to curb excessive wealth and
power of the super-rich during global crisis by increasing taxation of the
richest. We can learn from Costa Rica that increased its top rate of income tax
by 10 percentage points, from 15% to 25%, and Bolivia and Argentina introduced
wealth and solidarity taxes on their richest citizens.
This spirit of solidarity boosts public spending and to fight inequality and
limit suffering of ordinary citizens.




WAGES


EARNING A LIVEABLE WAGE?



Has your wage decreased since the pandemic began?

 * Yes
 * No





When economic crisis hits, ordinary working people are first in line for pay
cuts and job losses. In 2020, COVID-19 sparked lockdowns and an unprecedented
global economic slowdown. This led to working-hour losses approximately four
times greater than during the global financial crisis of 2008, with women and
racialized groups being the hardest hit.

Oxfam analysis shows that at least 1.7 billion workers worldwide will have seen
a real-terms pay cut in 2022, making it more challenging to feed their families
or keep the lights and heating on.We urgently need greater taxation of the
ultra-rich and corporations as a measure to fight inflation and inequality.




TAX


ABOLISH BILLIONAIRES TODAY!



In your every day life, when do you pay taxes?

 * On my income
 * On my property
 * Grocery shopping
 * Healthcare
 * Transportation
 * Utility Bills
 * Getting a Divorce
 * Inheritance

Submit




Oxfam is calling on governments to take immediate measures to increase taxation
on the richest, including permanent increases to tax on their incomes and
capital, one-off taxes to end crisis profiteering, and taxes on their wealth
that are high enough to significantly reduce inequality.

It’s time to fight inequality by taxing the rich.

Read our latest inequality report
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