Oxfam Says The Richest 62 People In The World Have The Same Wealth As The Bottom Half

income inequality

Arguably the defining issue of our time is extreme income inequality. This disparity between rich and poor is getting worse. Oxfam recently came out with the astonishing fact that just 62 people have the same wealth as the poorest 50 per cent of the world. The global inequality crisis is reaching new extremes which is simply unacceptable because it is bad for everyone. It goes without saying that the consequences are hardest for the poorest people in the world.

Taxation is the key

One way to end extreme inequality is through taxation which would enable millions of people to be lifted out of poverty. Tax revenues collected by the Australian government and in other countries are essential to providing public services such as transport infrastructure, healthcare and education for all. Everybody relies on the public services that are financed by tax. However big business and the mega rich are dodging paying their fair share which is the prime reason we have this extreme inequality which costs developing countries as much as $100 billion every year.

Stop tax dodging

Australia is not doing its bit and is dragging its heels when it comes to tax transparency. This is not acceptable and Oxfam is urging people to join the aid agency in urging the Australian government to put a stop to tax dodging by big business by demand transparency demanding big businesses reveal how much they make and from where. The time has come for Australia to make tax fair and this should start with multinational companies operating in or from Australia to make public their revenues in every country they operate. If we want to reverse the process of extreme inequality the mega rich and big business have to be prevented from dodging tax. Join Oxfam in calling on our respective governments to put an end to tax evasion.

"Please note, any prices mentioned in the Charity Gifts blog are correct at the time of posting. Please check the relevant website for the latest pricing information."

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