According to the international organization Oxfam, the world’s richest 62 people have as much wealth as the world’s poorest 3.5 billion people (that is half of Earth’s population). Oxfam is urging world leaders to help make our planet a more equal place. One of the issues the organization points out is that some wealthy folks and companies don’t pay their fair share of taxes. Taxes is money that is paid to the government by people and companies based on the money they earn. The tax money is used by governments to support many public services such as schools, hospitals, fire departments, parks, police departments, and the roads infrastructure. Some nations allow people to move their money to other countries, which reduces the taxes they have to pay. Oxfam is urging nations to disallow such money movement, which means the governments will be getting more money and can use the money to help people who are in need. The vision of Oxfam is a world without poverty.
Did you know?
According to the American magazine Forbes, the richest person in the world last year was Bill Gates, an American who co-founded the software company Microsoft and runs the Bill & Melinda Gates Foundation. He was worth US$79 billion.
Image Credits: https://www.oxfam.org for Oxfam’s image
Sources: https://www.census.gov/, https://www.oxfam.org/, Forbes