The report presented is called “Benefiting from Pain”, and it was done within the framework of the Davos summit, which brings together nearly 2,500 business executives and world leaders in the Swiss capital, for the first time since the outbreak of the pandemic in 2020.
The report, which raises the need “urgent” of adding three types of taxes to the rich, with initiatives similar to those of Argentina, also revealed that for every new billionaire created during the pandemic, one every 30 hours, almost a million people could be pushed into extreme poverty in 2022 almost at the same rate.
This international organization also called for a permanent tax on those who have the most, arguing that “The introduction of one-off solidarity or emergency taxes for the wealthiest should pave the way for a more fundamental solution.”
For Oxfam, “Permanent wealth taxation that rebalances the taxation of capital and labor can greatly reduce inequality, as well as combat the disproportionate political power and huge carbon emissions of the super-rich.”
What are the three types of taxes that the rich ask to apply in the world?
On the one hand, it proposes introducing unique solidarity taxes on billionaires’ pandemic windfalls to finance support for people facing rising food and energy costs and a just and sustainable recovery from Covid 19, as Argentina did. According to Oxfam calculations, “The super rich have stashed almost $8bn in tax havens.”
Second, Oxfam proposes to “end crisis speculation by introducing a temporary excess income tax of 90% to capture windfall profits from large corporations in all industries,” another initiative that the Argentine government announced, although it has not yet given concrete form.
Oxfam estimated that if this tax had been applied to just 32 super-profitable multinational companies, it could have generated $104 billion in revenue in 2020.
wealth fortunes
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Finally, the organization postulates “introduce permanent wealth taxes to control extreme wealth and monopoly power, as well as the outsized carbon emissions of the super-rich.”
Thus, “an annual wealth tax for millionaires starting at just 2% and 5% for billionaires could generate $2.52 trillion a yearenough to lift 2.3 billion people out of poverty, make enough vaccines for the world, and provide universal health care and social protection for everyone living in low- and lower-middle-income countries,” Oxfam said.
The name of this organization comes from the Oxford Committee for the Relief of Famine, founded in Britain in 1942, when the group campaigned for food supplies to be sent through an Allied naval blockade to starving women and children in Greece. occupied by the enemy during World War II.
Oxfam International was then founded in 1995 by a group of independent non-governmental organisations, who came together as a confederation to maximize efficiency and achieve greater impact in reducing global poverty and injustice.
Source: Ambito
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