Richest 1% Accused Of Bagging Two-thirds Of $42 Trillion In New Wealth 

Oxfam says the world’s top 1 percent grabbed nearly two-thirds of the $42 trillion in new wealth created since 2020, in a new report released to coincide with the annual meeting of the World Economic Forum in Davos, Switzerland. <br />Oxfam’s “Survival of the Richest” report released says the share was almost twice as much money as the amount obtained by the bottom 99 percent of the world’s population. <br />Oxfam says a 5 percent tax on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year, enough to lift 2 billion people out of poverty.