Ox-Fam Report: The world's five richest people doubled their wealth: The poor are getting poorer

- An "Ox-Fam" analysis at the World-Economic-Forum in Davos revealed an unusual paradox: Make profit but look at commitment to society.

Davos: "Aux-Famme" has given a shocking report at the ongoing "World-Economic Forum" in Davos, Switzerland. It says that the five richest people in the world have doubled their capital. While the poor are getting poorer. The total capital of these five, which was 405 billion dollars in 2020, has increased to 869 dollars in 2023. This has happened at a time when the economic condition of another 5 to 6 billion people in the world is deteriorating.

This unusual contrast has accelerated since the Covid-19 pandemic. So billionaires have increased their capital by 3.3 billion dollars since 2020.

This report not only talks about wealth, but billionaires - ultra-tax-policies are also turning to their advantage. They also evade taxes. Exploiting workers and "privatizing" state operations. (Running the country's operations as it sees fit.) Also waged a war on taxation, drastically cutting corporate taxes. Special: In 'OECD' countries, the tax which was 48 percent in 1980, has been reduced to 23.1 percent in 2022. (OECD countries stands for Organization for Economic Corporation and Development).

They have 3 times grip on power. They can also fix the wages of workers, price of grain, and medicine as per their wish. Countries of the world make laws to overcome it, but they find loopholes in them. Also, RERA-evasion contributes as little money as possible to the government exchequer.

Ox-Pham suggests the solution is to abolish the wealth-tax. It has also been suggested that those earning 1.8 trillion a year should face the highest wealth tax.

The report further says: 148 corporations increased their profits by 1.8 trillion dollars, an increase of fifty-two percent from the average of the last three years.

This directly affects the poor. Due to this looting, the prices of all commodities go up. While the income of the middle class and the poor remain the same, there is an overall pressure on them. In fact, in this way their income is eroded.

In this report, Oxfam has also named five Gatch super-rich. In which Tesla CEO, Elon Musk, L.V.L.H. The chief is Bernard Arnold, Amazon's Jeff Bezos, Oracle co-founder Larry Ellison and investor Warren-Buffer.

The report further states that the world's 1,600 largest companies give only 0.4 percent of the amount to workers. Which is barely enough for him and his family to survive. Sometimes it is less for the families of workers with large families.

With this report, Oxfam reined in governments over corporations. It has been requested to see that this gap does not widen further. Along with how to do it, a road-fair map has also been created.

The question is whether governments will be able to follow the pressure of the rich.