Oxfam Report: 26 Billionaires Own The Same Wealth As The Poorest 3.8 Billion People

From the Huffington Post:

The gap between rich and poor is fracturing society, poisoning politics and fueling public anger, according to a new report from anti-poverty nonprofit Oxfam, which found that last year just 26 people owned the same amount of wealth as the poorest 3.8 billion people. This figure is down from 43 the year before.

The Public Good or Private Wealth? report, published Sunday, found that the wealth of billionaires has increased by $900 billion in the last year, or $2.5 billion a day. This bonanza has not been felt by the poorest half of the world, which saw its wealth decline by 11 percent....

In its report, Oxfam calls for a new economic model, a “human economy” where tax systems for corporations and the super-rich are overhauled to eliminate tax avoidance and evasion, and to increase tax revenues. This money would then be plowed into providing universal public services like education and healthcare as key to tackling inequality and poverty. “Inequality is not inevitable,” the report says, “it’s a political choice.” 

Full Huffington Post story

Oxfam report