The world's 10 richest men could pay for every Covid-19 vaccine from pandemic gains, Oxfam says

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Oxfam noted that the wealth of the world's ten richest men grew by $15,000 a second — $1.3 billion a day — during the pandemic.

topped by Tesla CEO Elon Musk, Amazon's Jeff Bezos, and LVMH CEO Bernard Arnault, to calculate the figures.

In contrast, the incomes of 99% of people have fallen during the pandemic, said Oxfam, citing World Bank data. "Vaccines were meant to end this pandemic, yet rich governments allowed pharma billionaires and monopolies to cut off the supply to billions of people. The result is that every kind of inequality imaginable risks rising," said Bucher.a one-time 99% windfall tax on the gains in fortunes of the top 10 richest men would able be to pay for the manufacture of the world's Covid-19 vaccines.

"All this, while still leaving these men $8 billion better off than they were before the pandemic," Oxfam noted in its report."It has never been so important to start righting the violent wrongs of this obscene inequality by clawing back elites' power and extreme wealth including through taxation — getting that money back into the real economy and to save lives," Bucher said.

 

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South Africa can jump start its economy if it does the following: 1-Remove the race based BBBEE laws! 2-Remove all labour law red tape! 3-Reduce Corporate Income Tax to 22%! (This will be lowered to 27% next year tho

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