Why do billionaires pay people no wages worth living

Oxfam Wealth Study - There are 2,153 billionaires worldwide

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  • According to Oxfam calculations, the more than 2,000 richest people in the world collectively have more than 60 percent of the total population.
  • That is the result of a report by the development aid organization based in Kenya's capital Nairobi, which was presented on the occasion of the World Economic Forum in Davos.
  • It lists the number of billionaires around the world as 2153. In 2019, their possessions were greater than those of the poorest 4.6 billion people on earth.

The authors speak of a shocking consolidation of inequality. They pay particular attention to the unpaid work women and girls do. They estimate its extent to be 12.5 billion hours a day.

Oxfam estimates that women contribute $ 10.8 trillion a year to the global economy with their unpaid care work. That is more than three times the value added by the technology industry worldwide.

Governments must collect taxes from the rich

"For us it is important to emphasize that the hidden engine of the visible economy is actually the unpaid care work of women," said Oxfam's India boss Amitabh Behar.

"If you look around the world, you will see protests in more than 30 countries," said Behar. People there are no longer willing to accept inequality. Governments have to make sure that the rich pay their taxes.

0.5% taxes result in 117 million jobs

Oxfam experts suggest an additional levy for the wealthiest. If only this one percent of the world's population would pay a tax of 0.5 percent on each of its assets in the next ten years, the money could create 117 million new jobs in care for the elderly, childcare, education and health care, as the authors explain.

SRF 4 News, 09:15 a.m.; reuters / horm; widb

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  • Comment from Achim Frill (Afri)
    What is possession anyway? It's all just borrowed. We come with nothing and leave with nothing. In between, it's all about how I deal with the borrowed. Do I just use it for my own pleasure? Do I use it responsibly? Am i ready to share It doesn't matter whether I have billions or just a few tens of thousands on my side. It is concerning everybody.
    Agree agree to the comment
  • Comment from Adrian Müller (Andymüller)
    I don't have a lot, but I'm happy with where I have. I don't want to trade because you never know if someone wants the money or is interested in me as a person.
    Agree agree to the comment
  • Comment from Peter Zurbuchen (drpesche)
    Small calculation example: If Mr. Zuckerberg paid his 36,000 employees 1,000 dollars more per month and paid it from his assets, the poor would have "only" 28 billion after 100 years. But of course the bill is wrong, because he doesn't have to pay anything, but rather his wealth has only grown less strongly in these 100 years.
    Agree agree to the comment

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