Message to President Biden and Members of Congress:
The richest 1 percent globally have captured nearly two-thirds of all new wealth since 2020, almost twice as much money as the bottom 99 percent of the world’s population. Billionaire fortunes are increasing by $2.7 billion a day while crushing inflation outpaces the wages of 1.7 billion workers.
Decades of tax cuts for the richest and corporations have fueled inequality, with the poorest people in many countries paying higher tax rates than billionaires. Oxfam is demanding wide-ranging increases in taxation of the super-rich, and we call on President Biden, Congress, and world governments to tax the extraordinary wealth of multi-millionaires and billionaires.
Increased taxes on the wealthiest individuals could lift people out of poverty, address the climate crisis, fund childcare, and create well-paying jobs.
We urge you to join Oxfam’s global community and make the ultra-rich pay their fair share of taxes.