Here Come The Calls For A Global Wealth Tax | WHAT REALLY HAPPENED

Here Come The Calls For A Global Wealth Tax

A new report strategically timed for release with the start of the World Economic Forum boondoggle at Davos, shows that the world's 26 richest billionaires now own as many assets as the 3.8 billion people who make up the poorest half of the world's population.

The report titled "Public Good or Private Wealth," found that top world's 26 richest billionaires now hold as much wealth as the bottom half of the world's population, some 3.8 billion people. That number was 43 in 2017 and 61 in 2016. According to the Guardian, the report also found that in the 10 years since the financial crisis, the number of billionaires has almost doubled. It also found that between 2017 and 2018, a new billionaire was created every two days.

For development charity Oxfam, that was enough to prompt calls for a global 1% wealth tax. The charity claims that the widening gap of wealth hinders the fight against poverty and called for a 1% wealth tax that it estimated could raise $418 billion a year. The charity believes this money should be re-purposed to educate every child not in school, as well as provide healthcare that would reportedly prevent 3.3 million deaths, according to the Guardian.