100 Richest People Could End Poverty, Says Oxfam Report

Jack Bedrosian

In advance of next week’s World Eco­nom­ic Forum, UK-based char­i­ty and inter­na­tion­al rights group Oxfam released a new report high­light­ing the increas­ing wealth gap between the world’s rich and poor.Accord­ing to the report, the com­bined income of the world’s 100 rich­est per­sons in 2012—roughly $240 billion—would be enough to end glob­al pover­ty four times over. With the wealth­i­est 1% hav­ing seen a 60 per­cent earn­ings increase in the last 20 years despite major inter­na­tion­al finan­cial crises, Oxfam calls for a Glob­al New Deal” that would curb this trend through mea­sures such as com­pre­hen­sive employ­ment laws and clos­ing tax havens. 
From Al Jazeera: We some­times talk about the have-nots’ and the haves’ — well, we’re talk­ing about the have-lots’. […] We’re anti-pover­ty agency. We focus on pover­ty, we work with the poor­est peo­ple around the world. You don’t nor­mal­ly hear us talk­ing about wealth. But it’s got­ten so out of con­trol between rich and poor that one of the obsta­cles to solv­ing extreme pover­ty is now extreme wealth,” Ben Phillips, a cam­paign direc­tor at Oxfam, told Al Jazeera. We can no longer pre­tend that the cre­ation of wealth for a few will inevitably ben­e­fit the many – too often the reverse is true,” said Jere­my Hobbs, an exec­u­tive direc­tor at Oxfam.
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