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When Corona turns into the “virus of inequality” and deepens social disparities in the world



In its annual report on social disparities and inequality, Oxfam, founded in Britain in 1942, revealed that the world’s top rich people have not been affected by the covid-19 crisis but, on the contrary, have grown richer. The Organization renewed its call for a tax on wealth, with the aim of using it to combat the social “virus of inequality”.


Covid-19″inequality virus”. This is how Oxfam’s annual report, released on Monday, found that the world’s richest people were not affected by the covid-19 pandemic, but that some of them had boosted their financial gains.


“The richest people in the world (about 1,000 people) have regained their previous level of wealth in just 9 months,” the organization wrote. Unlike the poorest people who have to wait 10 years to recover from the dire economic consequences of the covid-19 crisis,” says the organization, which published its report to coincide with the virtual start of the International Economic Forum, which will run until next Friday.


According to statistics published by the Bank of Switzerland and the American magazine Forbes, the wealth of the world’s rich increased by دولار 39,000 billion between March 18 and December 31, 2020,” said Oxfam.


In France, for example, billionaires like Bernard Arnault, who ranks third among the world’s richest behind Americans Jeff Bezos and Elon Musk, reaped more than 175 billion euros during the same period and”boosted their financial gains compared to before the covid-19 crisis,” the report says.


Raising taxes on the super-rich


In the face of growing social disparities, Oxfam has embraced the proposals of economists Thomas picati and Gabriel Zucman, who have called for higher taxes paid by the world’s super-rich.


“The covid-19 crisis should mark a significant turning point in tax policy for global corporations and the super-rich,” FAO wrote in its report. It is also an opportunity for a fair tax policy that can be embodied by raising the value of wealth taxes or by raising the value of financial taxes, as well as ending tax evasion.”


The organization set an example in Argentina, which in December 2020 ratified a law imposing an extraordinary tax on major wealth, which is expected to boost the state’s Treasury by3 3 billion, all of which will be used to fight the consequences and effects of the covid-19 pandemic.


In France, the government decided in 2018 to abolish the so-called tax on major financial wealth and ruled out the possibility of raising taxes to fund the economic recovery plan before the end of 2022.


On the occasion of the release of the report, Oxfam decided to launch an awareness campaign against social disparities and inequality, criticizing the French government on tax policy, changing the slogan of the French Republic “freedom, justice and brotherhood” to “freedom, equality and brotherhood”, which will be presented in front of the institutions of the French Republic in ten cities including Paris, Lille and Lyon.


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