A Two Tier World. It’s never been a better time to be a billionaire by Oxfam International, LSE, agencies   Jan. 2025   People living in poverty all over the world continue to face multiple crises. The scars of the pandemic are still with us in the form of unpayable debts, lower wages and far higher food prices, making day-to-day life a struggle for billions of people.   Conflict is also increasing, which drives further poverty, hunger and inequality. The huge human impact of climate breakdown grows each year with deaths from excessive heat, extreme weather and hunger.   The election of Donald Trump as U.S. President in November 2024 gave a huge further boost to billionaire fortunes, while his policies are set to fan the flames of inequality further.   In its most recent report on poverty, the World Bank calculates that if current growth rates continue and inequality does not decrease, it will take more than a century to end poverty. Conversely, the report shows that if we reduce inequality, poverty could be ended three times faster.   While overall poverty rates have fallen across the world, the number of people living under the World Bank poverty line of US$6.85 (PPP) today is the same as it was in 1990: almost 3.6 billion people. Today this represents 44% of humanity.   Meanwhile, in perverse symmetry, the richest 1% own almost an identical proportion – 45% of all wealth. One in ten women in the world lives in extreme poverty (below US$2.15 a day PPP); 24.3 million more women than men live in extreme poverty.   Research by the World Bank also shows that only 8% of humanity lives in countries that have low inequality. Oxfam and Development Finance International’s findings in The Commitment to Reducing Inequality Index 2024 reveal negative trends in the vast majority of countries since 2022.   Four in five have cut the share of their budgets going to education, health and/or social protection; four in five have cut progressive taxation; and nine in ten have regressed on labour rights and minimum wages. Without urgent policy actions to reverse this worrying trend, economic inequality will almost certainly continue to rise in 90% of countries.   Countries are facing bankruptcy and being crippled by debt; they do not have the money to fund the fight against inequality. On average, low- and middle-income countries spend 48% of their budgets on debt repayments, often to rich private creditors based in New York and London. This is far more than their spending on education and health combined.   Each day, women contribute an estimated 12.5 billion hours of unpaid care work, adding at least US$10.8 trillion in value to the global economy; the economic contribution of their care work is three times the financial value of the global tech industry.   This extremely high level of inequality is driving suffering worldwide, and undermining progress in bringing an end to poverty.   Billionaire wealth surges by $2 trillion in 2024   Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day, at a rate three times faster than the year before. An average of nearly four new billionaires were minted every week.   In 2024, the number of billionaires rose to 2,769, up from 2,565 in 2023. Their combined wealth surged from $13 trillion to $15 trillion in just 12 months. This is the second largest annual increase in billionaire wealth since records began. The wealth of the world’s ten richest men grew on average by almost $100 million a day — even if they lost 99 percent of their wealth overnight, they would remain billionaires.   Last year, Oxfam predicted the emergence of the first trillionaire within a decade. However, with billionaire wealth accelerating at a faster pace this projection has expanded dramatically —at current rates the world is now on track to see at least five trillionaires within that timeframe.   This ever-growing concentration of wealth is enabled by a monopolistic concentration of power, with billionaires increasingly exerting influence over industries and public opinion.   Oxfam publishes “Takers Not Makers” today as business elites gather in the Swiss resort town of Davos and billionaire Donald Trump, backed by the world’s richest man Elon Musk, is inaugurated as President of the United States.   “The capture of our global economy by a privileged few has reached heights once considered unimaginable. The failure to stop billionaires is now spawning soon-to-be trillionaires. Not only has the rate of billionaire wealth accumulation accelerated —by three times— but so too has their power,” said Oxfam International Executive Director Amitabh Behar.   “The crown jewel of this oligarchy is a billionaire president, backed and bought by the world’s richest man Elon Musk, running the world’s largest economy. We present this report as a stark wake up-call that ordinary people the world over are being crushed by the enormous wealth of a tiny few,” said Behar.   The report also shines a light on how, contrary to popular perception, billionaire wealth is largely unearned —60 percent of billionaire wealth now comes from inheritance, monopoly power or crony connections. Unmerited wealth and colonialism —understood as not only a history of brutal wealth extraction but also a powerful force behind today’s extreme levels of inequality— stand as two major drivers of billionaire wealth accumulation.   Oxfam’s calculates that 36 percent of billionaire wealth is now inherited. Research by Forbes found that every billionaire under 30 has inherited their wealth, while UBS estimates that over 1,000 of today’s billionaires will pass on more than $5.2 trillion to their heirs over the next two to three decades.   Many of the super-rich, particularly in Europe, owe part of their wealth to historical colonialism and the exploitation of poorer countries.   This dynamic of wealth extraction persists today: vast sums of money still flow from the Global South to countries in the Global North and their richest citizens, in what Oxfam’s report describes as modern-day colonialism.   The history of empire, racism and exploitation has left a lasting legacy of inequality. Today, the average life expectancy of Africans is still more than 15 years shorter than that of Europeans. Research shows that wages in the Global South are 87 to 95 percent lower than wages in the Global North for work of equal skill. Despite contributing 90 percent of the labor that drives the global economy, workers in low and middle-income countries receive only 21 percent of global income.   “The ultra-rich like to tell us that getting rich takes skill, grit and hard work. But the truth is most wealth is taken, not made. So many of the so-called ‘self-made’ are actually heirs to vast fortunes, handed down through generations of unearned privilege. Untaxed billions of dollars in inheritance is an affront to fairness, perpetuating a new aristocracy where wealth and power stays locked in the hands of a few,” said Behar.   “Meanwhile, the money desperately needed in every country to invest in teachers, buy medicines and create good jobs is being siphoned off to the bank accounts of the super-rich. This is not just bad for the economy —it’s bad for humanity."   Much of the wealth of the ultra-rich is not about what you know, but who you know: who you lobby, whose campaign you finance or which person you bribe. In short, much extreme wealth is the product of crony connections between the richest and governments.   There is a clear link between the areas of the economy that are prone to such cronyism and concentrations of wealth. There are basically more billionaires and ultra-rich people in the more crooked, corrupt and captured parts of the global economy, and this is not a coincidence.   As monopolies tighten their stranglehold on industries, billionaires are seeing their wealth skyrocket to unprecedented levels. Monopoly power is escalating extreme wealth and inequality worldwide. Monopolistic corporations can control markets, set the rules and terms of exchange with other companies and workers, and set higher prices without losing business. These strategies drive up the wealth of their billionaire owners.   Today’s unequal world is indelibly burned with the brand of brutal colonial history. Legacies of inequality and pathologies of plunder, pioneered during the time of historical colonialism, continue to shape modern lives. This has created a deeply unequal world. A world torn apart by division based on racism. A world that continues to systematically extract wealth from the Global South to primarily benefit the richest people in the Global North.   Profound inequality between the richest and the rest of society, both between rich nations and the Global South and within countries in the Global South, is the legacy of historical colonialism. The gap between the rich world and the rest is incredibly wide. In 1820, the furthest back the data goes, the income of the global richest 10% was 18 times higher than the poorest 50%; in 2020, it was 38 times higher. This economic inequality is reflected in many other measures of progress and wellbeing.   At the national level too, colonialism bequeathed very high levels of inequality in the countries of the Global South. Today, all the countries, bar one, that the World Bank defines as having high inequality are in the Global South. The richest 1% in Africa, Asia and the Middle East receive 20% of all income.   The modern multinational corporation is a creation of colonialism. It was pioneered by such corporations as the East India Company, which became a law unto itself and was responsible for many colonial crimes. In the modern day, multinational corporations, often occupying monopoly or near-monopoly positions, continue to exploit workers in the Global South, particularly women workers, on behalf of rich shareholders primarily based in the Global North.   Global supply chains and export processing industries represent modern colonial systems of south–north wealth extraction. Workers in these supply chains frequently experience poor working conditions, a lack of collective bargaining rights, and minimal social protection.   Large multinational corporations dominate global supply chains, benefitting from cheap labour and the continued extraction of resources from the Global South; they capture the vast majority of profits and perpetuate dependence, exploitation and control through economic means.   To contribute to meaningful systemic change, governments must radically reduce inequality - setting global and national goals to do so.   End extreme wealth. Commit to a global inequality goal that dramatically reduces inequality between the Global North and the Global South; for example, the incomes of the richest 10% must be no higher than the poorest 40% globally. Set similar time-bound targets to reduce national economic inequality, aiming for the total income of the richest 10% to be no more than the total income of the poorest 40%, known as the Palma Ratio.   The IMF, the World Bank, the UN and other global institutions should completely change their governance to end the formal and informal dominance of the Global North and the interests of their wealthy elites and corporations. The dominance of wealthy nations and corporations over financial markets and trade rules must be ended.   In its place, a new system is needed that promotes economic sovereignty for Global South governments and enables access to fair wages and labour practices for all workers. Unequal free trade policies and accords must be repealed.   Tax the richest to end extreme wealth.   Global tax policy should fall under a new UN tax convention and facilitate the payment of higher taxes by the richest people and corporations to radically reduce inequality and end extreme wealth. Tax havens must be abolished.   Cancel debts and end the dominance of rich countries and corporations over financial markets and trade rules. This means breaking up monopolies, democratizing patent rules, and regulating corporations to ensure they pay living wages and cap CEO pay. Restructure voting powers in the World Bank, IMF and UN Security Council to guarantee fair representation of Global South countries.   Former colonial powers must also confront the lasting harm caused by their colonial rule, offer formal apologies, and provide reparations to affected communities.   http://www.oxfam.org/en/research/takers-not-makers-unjust-poverty-and-unearned-wealth-colonialism http://www.oxfam.org/en/press-releases/billionaire-wealth-surges-2-trillion-2024-three-times-faster-year-while-number http://www.nature.com/articles/s41467-024-49687-y http://www.theguardian.com/news/2025/jan/20/wealth-of-worlds-billionaires-grew-by-2tn-in-2024-report-finds http://www.ipsnews.net/2025/01/world-rich-get-richer-poor-get-poorer-billionaires-rise/ http://taxthesuperrich.world/news-updates/ http://publicservices.international/resources/news/psi-joins-launch-of-tax-the-super-rich-alliance?id=15595&lang=en   http://www.theguardian.com/business/2025/jan/22/influence-of-super-rich-on-donald-trump-threatens-democracy-say-patriotic-millionaires http://wemustdrawtheline.org/ http://www.globaljustice.org.uk/news/democracy-at-risk-in-davos-new-report-exposes-big-tech-lobbying-and-political-interference/ http://inequality.org/article/what-we-americans-now-need-most-a-farewell-to-grand-fortune/ http://www.pewresearch.org/global/2025/01/09/economic-inequality-seen-as-major-challenge-around-the-world/   http://blogs.lse.ac.uk/inequalities/2024/12/10/the-rest-is-not-just-politics-how-inequality-is-trumping-democracy/ http://blogs.lse.ac.uk/inequalities/2024/08/28/capitalisms-gaping-inequalities-are-also-its-main-weakness/ http://blogs.lse.ac.uk/inequalities/2024/10/08/feeding-the-machine-seven-links-between-ai-and-inequalities/ http://blogs.lse.ac.uk/inequalities/2024/05/01/todays-colonial-data-grab-is-deepening-global-inequalities/ http://blogs.lse.ac.uk/inequalities/2024/10/02/placing-gender-justice-at-the-heart-of-the-wellbeing-economy/   http://blogs.lse.ac.uk/inequalities/2024/12/11/global-water-insecurity/ http://policy-practice.oxfam.org/resources/water-dilemmas-the-cascading-impacts-of-water-insecurity-in-a-heating-world-621548/ http://blogs.lse.ac.uk/inequalities/2024/03/20/hope-in-the-shadows http://blogs.lse.ac.uk/inequalities/2024/05/08/its-not-rocket-science-the-politics-of-inequality/ http://blogs.lse.ac.uk/inequalities/2024/07/09/to-heal-our-fragmented-economic-system-we-must-look-to-deeper-aspects-of-our-human-nature/ http://blogs.lse.ac.uk/inequalities/2024/04/22/uneven-earth-policies-for-a-sustainable-world/ http://blogs.lse.ac.uk/inequalities/2024/04/30/new-research-on-global-poverty/   Tax the Rich to ensure everyone contributes to the common good   The Forbes 2024 Billionaires list reports that the number of worldwide billionaires grew by 141 in the past year, with 2,781 people holding wealth that exceeds $1 billion. These people own combined assets of $14.2 trillion, exceeding the gross domestic product of every country in the world except the U.S. and China.   Their collective wealth has risen by 120% in the past decade, at the same time as billions of people across the world have seen their living standards decrease in the face of inflation and the cost of living crisis.   “It’s been an amazing year for the world’s richest people, with more billionaires around the world than ever before,” said Chase Peterson-Withorn, Forbes’ wealth editor. “Even during times of financial uncertainty for many, the super-rich continue to thrive.”   Luke Hildyard, the executive director for the High Pay Centre thinktank, said: “The billionaire list is essentially an annual calculation of how much of the wealth created by the global economy is captured by a tiny caste of oligarchs rather than being used to benefit humanity as a whole. It should be the most urgent mission to spread this wealth more evenly.”   While the global population is "living through incredibly unequal times, lurching from one crisis to the next," says Robert Palmer, executive director of Tax Justice U.K., the richest people in the world amass "extraordinary levels of wealth."   "World leaders need to ensure the super rich are paying their fair share, for example through introducing wealth taxes. This would help provide the resources needed to tackle multiple crises from hunger, to inequality and climate change."   June 2024   A blueprint for a coordinated minimum effective taxation standard for ultra-high-net-worth individuals, by Gabriel Zucman. (EU Tax Observatory)   This report presents a proposal for an internationally coordinated standard ensuring an effective taxation of ultra-high-net-worth individuals. In the baseline proposal, individuals with more than $1 billion in wealth would be required to pay a minimum amount of tax annually, equal to 2% of their wealth. This standard could be flexibly implemented by participating countries through a variety of domestic instruments, including a presumptive income tax, an income tax on a broad notion of income, or a wealth tax.   The report presents evidence that contemporary tax systems fail to tax ultra-high-net-worth individuals effectively, clarifies the case for international coordination to address this issue, analyzes implementation challenges, and provides revenue estimations.   The main conclusions are that (i) building on recent progress in international tax cooperation, such a common standard has become technically feasible; (ii) it could be enforced successfully even if all countries did not adopt it, by strengthening current exit taxes and implementing “tax collector of last resort” mechanisms as in the coordinated minimum tax on multinational companies;   (iii) a minimum tax on billionaires equal to 2% of their wealth would raise $200-$250 billion per year globally from about 3,000 taxpayers; extending the tax to centimillionaires would add $100-$140 billion; (iv) this international standard would effectively address regressive features of contemporary tax systems at the top of the wealth distribution;   (v) it would not substitute for, but support domestic progressive tax policies, by improving transparency about top-end wealth, reducing incentives to engage in tax avoidance, and preventing a race to the bottom; (vi) its economic impact must be assessed in light of the observed pre-tax rate of return to wealth for ultra-high-net-worth individuals which has been 7.5% on average per year (net of inflation) over the last four decades, and of the current effective tax rate of billionaires, equivalent to 0.3% of their wealth.   http://www.taxobservatory.eu/publication/a-blueprint-for-a-coordinated-minimum-effective-taxation-standard-for-ultra-high-net-worth-individuals/ http://gabriel-zucman.eu/files/report-g20.pdf http://www.icrict.com/international-tax-reform/g20-must-go-further-in-fight-to-tax-the-rich/ http://www.taxobservatory.eu/publication/global-tax-evasion-report-2024/ http://taxjustice.net/press/countries-can-raise-2-trillion-by-copying-spains-wealth-tax-study-finds/ http://www.theguardian.com/news/article/2024/jun/25/international-scheme-to-tax-billionaires-wealth-technically-feasible-study-finds   World’s billionaires should pay minimum 2% wealth tax. (Guardian News)   The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise $U.S.250bn a year for the global fight against poverty, inequality and global warming, ministers from four leading economies have recommended.   In a sign of growing international support for a tax on the ultra-rich, finance minsters from Brazil, Germany, South Africa and Spain say a 2% tax would help to raise much-needed public funds after the economic shocks of the pandemic, rising cost of living impacts on populations exacerbated by the conflict in Ukraine and climate change.   “It is time that the international community gets serious about tackling inequality and financing global public goods,” the ministers say in a Guardian comment piece.   “One of the key instruments that governments have for promoting more equality is tax policy. Not only does it have the potential to increase the fiscal space governments have to invest in social protection, education and climate protection. Designed in a progressive way, it also ensures that everyone in society contributes to the common good in line with their ability to pay. A fair share contribution enhances social welfare.”   Brazil chairs the G20 group of leading developed and developing countries and put a billionaire tax on the agenda at a meeting of finance ministers earlier this year.   The French economist Gabriel Zucman is now fleshing out the technical details of a plan that will again be discussed by the G20 in June. France has indicated support for a wealth tax and Brazil has been encouraged that the US, while not backing a global wealth tax, did not oppose it.   Zucman said: “Billionaires have the lowest effective tax rate of any social group. Having people with the highest ability to pay tax paying the least – I don’t think anybody supports that.”   Research from Oxfam published this year found that the boom in asset prices during and after the Covid pandemic meant billionaires were $3.3tn – or 34% – wealthier at the end of 2023 than they were in 2020. Meanwhile, a study from the World Bank showed that the pandemic had brought poverty reduction to a halt.   The opinion piece, signed by ministers from Germany, Spain, Brazil and South Africa states: “The tax would be designed as a minimum levy equivalent to 2% of the wealth of the super-rich. They would be obliged to contribute more towards the common good,” the ministers say.   “Persisting loopholes in the system imply that high-net-worth individuals can minimise their income taxes. Global billionaires pay only the equivalent of up to 0.5% of their wealth in personal income tax. It is crucial to ensure that our tax systems provide certainty, sufficient revenues, and treat all of our citizens fairly.”   The ministers say there would need to be steps to counter the use of tax havens. The levy would be designed to prevent billionaires who choose to live in Monaco for example, but make their money in larger economies such as the UK or France, from reducing their tax bills below a global agreed minimum. If one country did not impose the minimum tax, another country could claim the income.   “Of course, the argument that billionaires can easily shift their fortunes to low-tax jurisdictions and thus avoid the levy is a strong one. And this is why such a tax reform belongs on the agenda of the G20. International cooperation and global agreements are key to making such tax effective. What the international community managed to do with the global minimum tax on multinational companies, it can do with billionaires,” the ministers say.   Zucman said there was overwhelming public support for this proposal, with opinion polls showing up to 80% of voters in favour. Even so, the economist said he was prepared for stiff resistance.   “I don’t want to be naive. I know the super-rich will fight,” he said. “They have a hatred of taxes on wealth. They will lobby governments. They will use the media they own.”   * Finance minsters from Brazil, Germany, South Africa and Spain:   "In the past two decades, we have witnessed a significant increase in inequalities within most countries, with the income gap between the top 10% and the bottom 50% effectively doubling.. One of the key instruments that governments have for promoting more equality is tax policy. Global billionaires pay only the equivalent of up to 0.5% of their wealth in personal income tax. It is crucial to ensure that our tax systems raise sufficient revenues, and treat all of our citizens fairly.   With exactly these goals in mind, Brazil brought the proposal for a global minimum tax on billionaires to the negotiation table of the world’s major economies for the first time.   Currently, there are about 3,000 billionaires worldwide. The tax would be designed as a minimum levy equivalent to 2% of the wealth of the super-rich. The argument behind such tax is straightforward: we need to enhance the ability of our tax systems to fulfil the principle of fairness, such that contributions are in line with the capacity to pay. Persisting loopholes in the system imply that high-net-worth individuals can minimise their income taxes.   A coordinated global minimum levy on billionaires would constitute a significant step in this direction. It would generate much-needed revenues for governments to invest in public goods such as health, education, the environment, and infrastructure – from which everybody benefits. Such a tax would potentially unlock over $300bn in annual tax revenues globally".   http://www.theguardian.com/inequality/2024/apr/25/ministers-of-germany-brazil-south-africa-and-spain-why-we-need-a-global-tax-on-billionaires http://www.taxobservatory.eu/gabriel-zucmans-address-at-the-g20-finance-ministers-meeting-on-february-29-2024/ http://gabriel-zucman.eu http://wid.world/news-article/paris-conference-calls-for-un-tax-convention-to-combat-inequality/ http://www.ids.ac.uk/opinions/how-to-tax-the-ultra-rich-g20-proposal-vs-the-tools-at-hand/   May 2024   Civil Society recommendations on International Taxation for G20 Finance Ministers   For the first time, the G20 Finance Track has directly received recommendations from civil society organizations, marking a historic moment in international tax policy discussions.   At the G20 International Tax Symposium, Nathalie Beghin from INESC (one of our partners at the Initiative for Human Rights in Fiscal Policy) presented a document with recommendations on behalf of civil society agencies to Brazil's Finance Minister, Fernando Haddad. These recommendations aim to guide G20 Finance Ministers towards more equitable and just international tax policies.   The initiative, led by Brazil’s G20 presidency, invited civil society to contribute directly to the dialogue on international taxation which took place in Brasilia on May 22 and 23, 2024, to discuss issues such as the building of a United Nations Convention on Tax, and an international approach to tax wealth.   The recommendations were developed collectively by over 40 national, Latin American, and international civil society organizations, reflecting a broad consensus on the need for inclusive and fair tax systems.   To María Emilia Mamberti, CESR’s Co-Director of Program, “This signifies an important milestone in the efforts of the human rights movement to connect tax and rights. It moved debates in the right direction to understand taxation not as a technical issue only pertaining to “tax payers”, but as a key instrument to enhance living standards for all rights holders”.   http://cesr.org/cesr-and-civil-society-allies-present-historic-taxation-recommendations-to-brazils-finance-minister-and-g20-authorities   22 Mar. 2024   UN agrees plan for wealth tax law blueprint. (Tax Justice Network)   The UN tax committee has agreed by consensus to issue guidance on designing wealth tax laws, opening the door for countries to tax extreme wealth. It is estimated that there is more than twice as much wealth hidden offshore beyond the rule of law than there are printed dollars and euros in circulation today.   The UN guidance will provide countries with a blueprint to implement at home, giving countries both the technical know-how and political backing to tax the wealth of the richest members of society – something that most countries have shied away from under fierce lobbying pressure.   Approval for the drafting of a model law included in the guidance was briefly delayed following requests from some countries for minor changes, including relabelling the “model law” as an “example law”.   Nonetheless, the agreement on the guidance signals a historic shift in global consensus on taxing extreme wealth and is the latest demonstration of the UN’s ability to push the needle on tax reform at a globally inclusive scale.   Contrary to expectations, the OECD and other objectors who had voiced opposition to the model law in previous committee sessions did not make a decisive intervention during Thursday’s meeting. Analysts at the Tax Justice Network suspect that the recent prioritisation of wealth taxes by the G20, championed by Brazil, was a factor behind the lack of pushback. The transparency and public scrutiny of UN discussions, compared to the closed-door opacity of OECD processes, may also have reduced the willingness to take blocking positions.   Alex Cobham, chief executive at the Tax Justice Network said: “This is another victory on tax secured at the UN through the leadership of global South countries, but for the benefit of people everywhere. Enhancing the technical and political space for national governments to pursue progressive tax measures will, over time, allow countries to generate greater revenues to invest in inclusive public services, while at the same time tackling the extreme wealth inequalities that damage all of our societies. We’re starting to see a consistent pattern, where the transparency of tax discussions at the UN leads to much better outcomes. The concurrent process to negotiate a UN framework convention on international tax cooperation offers the world an unprecedented opportunity to lock in that dynamic, and finally to fix the international tax rules that cost us all so much.”   http://taxjustice.net/press/countries-can-raise-2-trillion-by-copying-spains-wealth-tax-study-finds/ http://taxjustice.net/press/un-agrees-plan-for-wealth-tax-law-blueprint http://taxjustice.net/press/oecd-tax-reforms-risk-violating-human-rights-law-un-experts-warn-in-special-intervention/ http://atlas-offshore.world/ http://gcap.global/news/gcap-leads-civil-society-effort-for-robust-un-framework-on-international-tax-cooperation http://www.icij.org/investigations/paradise-papers/wealthy-countries-push-back-as-un-moves-ahead-with-global-tax-plan/   Feb. 2024   Less than eight cents in every dollar raised in tax revenue in G20 countries now comes from taxes on wealth, reveals new analysis by Oxfam ahead of the first meeting of G20 Finance Ministers and Central Bank Governors in Sao Paulo, Brazil.   By comparison, more than 32 cents in every dollar (over four times as much) is collected from taxes on goods and services. Taxes on food and other necessities, for example, shift more of the tax burden onto lower-income families.   Oxfam’s research also found that the share of national income going to the top 1 percent of earners in G20 countries has increased by 45 percent over the last four decades. During the same period, the top tax rates on their incomes has fallen by roughly a third (from around 60 percent in 1980 to 40 percent in 2022).   The top 1 percent of earners in G20 countries made more than $18 trillion in income 2022, a figure higher than the GDP of China.   In countries including Brazil, France, Italy, the UK and US, the super-rich pay an effective tax rate lower than the average worker. G20 countries are home to nearly four out of five of the world’s billionaires.   "In country after country, a war on fair taxation has coincided with a war on democracy, putting more money and power into the hands of a tiny, inequality-fueling elite. As the finance ministers of the world's largest economies gather this week, this contest takes center stage: will they reclaim their democracies by taxing the super-rich?" said Katia Maia, Executive Director of Oxfam Brazil.   Brazil, at the helm of the G20, has plans to forge the first global agreement on taxing the super-rich to reduce global inequality. A recent poll has revealed that nearly three-quarters of millionaires in G20 countries support higher taxes on wealth, and over half think extreme wealth is a “threat to democracy.”   Higher taxes on the wealth and income of the richest could raise the trillions of dollars needed to tackle both inequality and climate breakdown. For example, Oxfam estimates that a wealth tax of up to 5 percent on the G20’s multimillionaires and billionaires could raise nearly $1.5 trillion a year.   This would be enough to end global hunger, help low- and middle-income countries adapt to climate change, and bring the world back on track to meeting the United Nations’ Sustainable Development Goals (SDG) —and still leave more than $546 billion to invest in inequality-busting public services and climate action in G20 countries.   “A fair tax system can curb inequality and foster healthier, more inclusive societies,” said Maia. “Higher taxes for the super-rich means being able to invest in working families, protecting the climate, and making important public services like education and healthcare available to all. It also means being able to repair holes in social safety nets, to soften the blow of future crises.”   http://www.oxfam.org/en/press-releases/top-1-percent-bags-over-40-trillion-new-wealth-during-past-decade-taxes-rich-reach http://www.oxfam.org/en/press-releases/less-8-cents-every-dollar-tax-revenue-collected-g20-countries-comes-taxes-wealth http://oxfamilibrary.openrepository.com/bitstream/handle/10546/621477/bp-survival-of-the-richest-160123-en.pdf   Jan. 2024   Inequality Inc. How corporate power divides our world and the need for a new era of public action. (Oxfam International)   Since 2020, the richest five men in the world have doubled their fortunes. During the same period, almost five billion people globally have become poorer. Hardship and hunger are a daily reality for many people worldwide. At current rates, it will take 230 years to end poverty, but we could have our first trillionaire in 10 years.   This report shows how a huge concentration of global corporate and monopoly power is exacerbating inequality economy-wide. Seven out of ten of the world’s biggest corporates have either a billionaire CEO or a billionaire as their principal shareholder. Through squeezing workers, dodging tax, privatizing the state and spurring climate breakdown, corporations are driving inequality and acting in the service of delivering ever-greater wealth to their rich owners. To end extreme inequality, governments must radically redistribute the power of billionaires and corporations back to ordinary people. A more equal world is possible if governments effectively regulate and reimagine the private sector.   http://policy-practice.oxfam.org/resources/inequality-inc-how-corporate-power-divides-our-world-and-the-need-for-a-new-era-621583/   * U.S. Senator Elizabeth Warren forwards legislation for a Ultra-Millionaire Tax on fortunes over $50 million: http://www.warren.senate.gov/newsroom/press-releases/warren-jayapal-boyle-reintroduce-ultra-millionaire-tax-on-fortunes-over-50-million http://www.sanders.senate.gov/press-releases/news-sanders-omar-16-colleagues-in-senate-and-house-call-on-president-biden-and-treasury-secretary-yellen-to-support-a-global-tax-on-the-ultrawealthy/ http://inequality.org/great-divide/a-practical-prescription-for-taxing-our-worlds-richest/ http://clubmadrid.org/former-heads-state-government-call-president-biden-fellow-g20-leaders-back-global-deal-tax-ultra-rich/ http://www.icrict.com/international-tax-reform/a-minimum-tax-on-the-super-rich/ http://inequality.org/great-divide/wall-street-taxes/ http://www.icij.org/inside-icij/2024/06/how-the-irs-went-soft-on-billionaires-and-corporate-tax-cheats/ http://realtimeinequality.org/   * The Climate Damages Tax, report from Christian Aid, ActionAid, Greenpeace, Climate Action Network, Heinrich Boll Foundation, agencies   The Climate Damages Tax (CDT) addresses the injustice of climate devastation impacting populations around the world who did not cause the climate change but are left to pay for it without the means to do so. It looks to the fossil fuel industry – the burning of whose products are the root cause of the problem – who are currently making enormous profits in the hundreds of billions of dollars every year, to be held accountable for their actions. Most specifically, by being taxed considerably more to help pay for the skyrocketing bill for damages they have to date avoided.   The CDT is a fossil fuel extraction charge, levied on each tonne of coal, barrel of oil or cubic litre of gas produced. It would generate billions in extra income, most especially from fossil-fuel producing states. We propose that this substantial additional revenue is allocated in two ways. Firstly, it can help, particularly OECD countries contribute finance to the Loss and Damage Fund (LDF), without unfairly costing their taxpayers. Secondly, it will generate a significant domestic dividend that can be channelled to climate action nationally, helping to pay for the support for communities to transition away from fossil fuels, towards green energy and transport: http://tinyurl.com/3bbbhj29   # UN WebTV: UN Economic and Social Council Special meeting (March 2024) on international cooperation in tax matters - Options and approaches for fiscal measures to realise net wealth taxes in support of more inclusive and sustainable development and to advance progress toward a fair, inclusive, and effective international tax system: http://webtv.un.org/en/asset/k1m/k1mmhjh8gh Visit the related web page
	Ongoing shortfalls and disparities leave over 1 billion people with disabilities behind by International Disability Alliance, agencies   The International Disability Alliance (IDA) operates as a global advocate for the rights of persons with disabilities. IDA brings together over 1,100 organisations of persons with disabilities and their families from across eight global and six regional networks.   Together we promote the inclusion of persons with disabilities across global efforts to advance human rights and sustainable development. We support organisations of persons with disabilities to hold their governments to account and advocate for change locally, nationally and internationally.   With member organisations around the world, IDA represents over one billion people worldwide living with disabilities. Among them are some of the world’s largest – and most frequently overlooked – marginalised group.   3 Dec. 2024   Women and girls with disabilities are the best champions for upholding their rights. (OHCHR)   UN Experts urged governments to amplify the leadership of persons with disabilities for an inclusive and sustainable future, particularly women and girls with disabilities:   "Despite the fast-approaching deadline for achieving the 2030 Agenda for Sustainable Development, the promise of full gender equality remains elusive. “For women and girls with disabilities, this goal is even more distant due to compounded discrimination,” the Experts stated.   Women and girls with disabilities are disproportionately affected by poverty, inadequate healthcare including sexual and reproductive health, limited access to inclusive education, employment in the open market, digital devices and technology, increased exposure to abuse and violence, including sexual violence, trafficking in persons, and limited access to justice.   And particularly for those with intellectual and psychosocial disabilities, denial of legal capacity often strips them of the freedom to make critical choices, including over their own bodies.   “Women and girls with disabilities are too often invisible and their needs and concerns are insufficiently considered in public policies on gender equality and on the rights of persons with disabilities,” noted the Experts.   This is aggravated by the widespread lack of disaggregated quantitative and qualitative data based on disability, age, sex, and gender, and their intersection.   The Experts stressed that the voices and experiences of all women and girls with disabilities must be part of public policy and decision-making priorities and commitments.   “They need to be more represented in leadership roles across all sectors – including within movements promoting and advocating for the human rights of women and of persons with disabilities respectively. Women and girls with disabilities need to be fully consulted on all policies that affect their lives and to be included in all discussions and decision-making processes” the Experts urged.   Further, all aspects of the intersection between gender and disabilities need to be considered, for example how the situation of families – and mostly mothers and other female relatives – impacts the human rights of children with disabilities.   The Experts recalled the need to establish gender-responsive, disability-inclusive, and age-sensitive care and support systems.   The upcoming 30th anniversary of the Beijing Declaration provides a pivotal opportunity for governments to assess progress in advancing the rights of women and girls with disabilities, and all women and girls who are left behind and whose needs are insufficiently addressed. While recent national reports reveal achievements, persistent gaps highlight the need for targeted policies and investment.   http://www.ohchr.org/en/special-procedures/sr-disability   28 Oct. 2024   The United Nations Committee on Economic, Social and Cultural Rights issues key recommendations on the rights of persons with disabilities in recent 76th session.   Earlier this month, the UN Committee on Economic, Social and Cultural Rights published its Concluding Observations on Albania, Cyprus, Honduras, Iceland, Kyrgyzstan, Malawi, and Poland, adopted during its 76th session (9th to 27th September). The Committee included recommendations on and explicit references to issues of persons with disabilities in all the 13 concluding observations adopted during 2024, reaching a total of 65 recommendations and references.   The International Disability Alliance has produced its compilations of Disability-Related Extracts from the Concluding Observations for the sessions 75th and 76th held in 2024.   In 2024, the 75th and 76th sessions of the Committee on Economic, Social and Cultural Rights covered a range of important issues related to the rights of persons with disabilities including: Discrimination and social inclusion; Access to inclusive quality education; Employment; Poverty and economic inequality; Social protection; Infrastructure and accessibility.   The 75th session of the Committee on Economic, Social and Cultural Rights in February 2024 reviewed six countries and issued disability-related recommendations for all of them, reaching a total of 31 recommendations. Key issues include:   Indonesia: The Committee raised concerns over the use of shackling on people with psychosocial disabilities and recommended preventing this practice and improve mental health services. The Committee was concerned about the lack of school infrastructure and digital access, with recommendations to enhance education quality and access, especially for children with disabilities.   Iraq: The Committee raised concerns about unemployment, particularly among marginalized groups like people with disabilities. Recommendations included enhancing vocational training and combating poverty, with particular attention to disadvantaged groups including persons with disabilities.   Ireland: The Committee pointed out the lack of disaggregated data on discrimination, calling for better data collection and comprehensive anti-discrimination laws. It emphasized improving employment opportunities and tackling poverty, especially for disadvantaged groups. In particular, it recommended to "take measures to ensure that the minimum wage applies to all workers, all sectors and all forms of employment, including by repealing sections 35 (1), on different rates of remuneration for persons with disabilities, of the Employment Equality Act".   Mauritania: Issues with unemployment, education access, and social security, especially for marginalized groups, were highlighted. Recommendations included improving education quality and infrastructure and to "guarantee access to quality education for children from disadvantaged backgrounds, in particular children with disabilities;"   Romania: Concerns were raised about discrimination against marginalized groups, lack of social housing, and high school dropout rates among Roma and rural children. Recommendations included addressing discrimination education, improving employment conditions for vulnerable groups, and to "increase the availability of adequate and affordable housing, in particular by expanding the supply of social housing, paying particular attention to members of disadvantaged and marginalized groups, such as persons with disabilities...";   Sweden: Concerns about discrimination, particularly in employment and housing, were raised. The Committee recommended stronger anti-discrimination measures, including ensuring that "effective judicial remedies and accessible legal aid, in addition to administrative remedies are available to victims of harassment, hate crimes and discrimination on the grounds of disability...", and seeking improvements in education, especially addressing disparities in access for marginalized students.   The 76th Session of the Committee on Economic, Social and Cultural Rights in September 2024 covered seven countries: Albania, Cyprus, Honduras, Iceland, Kyrgyzstan, Malawi and Poland. All seven countries received disability-related recommendations, with a total of 34 specific references to disabilities.   A common recommendation to Albania, Iceland, Malawi and Poland was to consider ratifying the Optional Protocol to the Convention on the Rights of Persons with Disabilities. Other key issues include:   Albania: Issues with accessible infrastructure and inclusive education were identified. Recommendations included improving public infrastructure by fully implementing Law No. 93/2014 on Inclusion and Accessibility for Persons with Disabilities and its related by-laws and other measures, and ensuring inclusive education for children with disabilities by " ensuring the provision of accessible and adapted materials, inclusive curricula, and individualised support and accommodation."   Cyprus: Concerns focus on unemployment among persons with disabilities and the lack of support for families with disabled children. Recommendations suggest targeted employment schemes and inclusive education reforms, as well as to "take all the necessary measures to ensure that children with disabilities can enjoy their right to grow up in a family environment".   Honduras: The focus is on combating discrimination against disadvantaged groups, including persons with disabilities. Recommendations stress the need for ensuring access to effective remedies and reparations to victims of discrimination and violence; and inclusive employment strategies and access to social security.   Iceland: High unemployment among persons with disabilities, violence against them, and poverty are significant issues. Recommendations include promoting employment and combating poverty for vulnerable groups, including by enhancing "efforts to increase the amount of old age pension, unemployment and disability benefits to ensure they provide an adequate standard of living for all recipients."   Kyrgyzstan: Persistent structural discrimination, including against persons with disabilities, is highlighted. The country was urged to adopt comprehensive anti-discrimination laws, improve social security access and increase efforts to reduce unemployment by implementing public sector employment schemes, vocational training programmes, and partnerships with the private sector, ensuring that its policies tackle the root causes of unemployment, paying particular attention to persons with disabilities..".   Malawi: The country lacks a comprehensive anti-discrimination legal framework, leading to stigma and unemployment for disabled people. Recommendations call for better inclusive education, social protection through the Social Cash Transfer Program (SCTP) "providing both basic income security and, when necessary, disability-related costs", and adopting "a comprehensive labour strategy with a precise, time-bound action plan to support women, youth and persons with disabilities in accessing decent employment..".   Poland: Issues with non-discrimination, employment for persons with disabilities and insufficient enforcement of accessibility laws were noted. Recommendations encourage "public education programmes on discriminatory norms and beliefs to combat the stigmatization of persons with disabilities," and targeted employment programs and better legal protections.   http://www.internationaldisabilityalliance.org/blog/committee-economic-social-and-cultural-rights-issues-key-recommendations-rights-persons http://www.internationaldisabilityalliance.org/blog/cedaw-committee-releases-89th-session-concluding-observations-nearly-80-recommendations-and http://www.internationaldisabilityalliance.org/blog/committee-rights-child-issued-recommendations-children-disabilities-its-97th-session http://www.internationaldisabilityalliance.org/blog/opds-advocate-disability-representation-global-climate-policies   http://www.internationaldisabilityalliance.org/blog/summary-un-disability-and-development-report-2024 http://www.icj.org/africa-african-commission-on-human-and-peoples-rights-calls-for-the-full-continental-ratification-and-implementation-of-the-african-disability-protocol/ http://www.icj.org/asia-pacific-kathmandu-declaration-launched-calling-for-action-to-ensure-access-to-justice-for-persons-with-disabilities/ http://social.desa.un.org/publications/un-flagship-report-on-disability-and-development-2024 http://atscalepartnership.org/ Visit the related web page
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