Oxfam added that the world has witnessed an obscene level of inequality taking the wealth growth in the past ten years as the figure was 36 times greater than the total wealth accumulated by the poor consisting the half of the global population. 

Humanitarian Organisation Oxfam stated that the richest 1 per cent of people have doubled their wealth by a whopping $42 trillion in ten years. This shows how the rich become richer by levying taxes on them and the indigent remain the same without any progress or fortune. Oxfam added that the world has witnessed an obscene level of inequality taking the wealth growth in the past ten years as the figure was 36 times greater than the total wealth accumulated by the poor consisting the half of the global population.

Oxfam points the finger at the tax rule as the billionaires pay a tax rate not exceeding 0.5 per cent around the globe living in the G20 nation as four out of five people exist in that urban. These findings were disclosed pondering ahead on the 2024 G20 Rio de Janeiro summit in Brazil scheduled for November 18th, and 19th, 2024. Before that, G20 ministers are committed to engaging in subsequent matters including the levy of taxes and initiating process to forbid billionaires from tax evasion.

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This includes ideas and methods to construe tax systems to be carried out for high-income profiles, according to the reports. This is on the verge of discussion with countries like South Africa, Spain, France, and Columbia along with the African Union supporting this however US is on the other side.

Max Lawson, Oxfam International’s head of inequality policy stated that the notion to increase tax payments on rich people is indisputable as there is an agenda to control the world in favour of a few elite classes without considering the poor amass, he added.

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Oxfam is a British-founded confederation of 21 independent NGOs, focusing on the alleviation of global poverty, founded in 1942. it was launched as the Famine Relief Committee to eradicate violence and halt the famine due to World War Two and continued in its aftermath. In 1970 Oxfam expanded to various regions and sprawled out to countries like India, Australia, North America and Denmark.