Summary
Oxfam’s 2024 inequality report revealed a record $2 trillion increase in billionaire wealth, reaching $15 trillion, while global poverty rates remain stagnant.
The top 1% own 45% of all wealth, and 44% of people live on less than $6.85 daily.
Oxfam predicts five trillionaires within a decade, citing inheritance and cronyism as key wealth drivers. Elon Musk may become the first trillionaire by 2027.
Oxfam calls for tax reform, monopoly regulation, and income redistribution to address inequality.
Critics warn unchecked wealth concentration threatens democracy and economic fairness.
That is for state tax evasion. I’m talking about federal taxes. Make paying a federal tax a requirement to do business in the US. Enforce it per transaction, or as a percentage of revenue, or any number of other methods. It just needs to be a requirement to operate as a business entity in the US. We could easily do this if the will to enact it existed.