It was an alarming finding by charity group Oxfam international, a warning that has been issued for 3 straight years, and the trend is continuing. Right now, the 62 richest people have the same wealth as the 3.6 billion poorest people. The richest get richer, while millions of people struggle for food, water and shelter.
Oxfam warned that unless action is not taken, 200 million more people will be trapped unnecessarily in extreme poverty by 2030.
Back in 2014, Oxfam issued a similar warning, except back then the number of billionaires were 85.
One of the main problems that arises out of this extreme inequality is that along with riches comes power and influence that these wealthy individuals can obtain.
Even though Oxfam has suggested a plan of action to tackle inequality, like eliminating tax havens for the rich, especially corporations that dodge taxes like Google, it is predicted this downward trajectory will continue.
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