https://youtu.be/ucqbkGfnHAA

DEJI360 EP379 PT1: ANALYST URGES FG TO PUT PROGRESSIVE TAX ON WEALTH OF BILLIONAIRES

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When the coronavirus pandemic struck in late 2019, there was a sense that we were all in it together considering we were to be equally impacted by this terrifying disease but it seems the reverse is the case.

This is as a new report by OXFAM, an international organization that focuses on poverty alleviation in the world reveals that the fortunes of the world’s 10 richest people doubled during the Covid-19 pandemic whilst the income of the 99 percent of the world’s population fell. Well, maybe those ten richest people are smart enough to tap into the opportunities, if you like, created by the pandemic.

Anyway, the report titled ‘’Inequality kills’’ shows that in West Africa, billionaires saw their wealth increase by 38 percent during the pandemic whilst the bottom 90 percent saw the share of their wealth drop in 2020.

According to the report, inequality is contributing to the death of at least 21,000 people each day or one person every four seconds. The findings are based on deaths globally from a lack of access to health care, gender based violence, hunger and climate breakdown.

The report also revealed that billionaires’ wealth has risen more since Covid-19 began than it has in the last 14 years, at 5 trillion US dollars, which is the biggest surge in billionaire wealth since record.




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