A report shows that billionaires could raise $250 billion annually if taxed around 2%. There are around 2,500 billionaires worldwide, and their combined wealth is $13 trillion.
A new report by Oxfam revealed that India’s wealth is gradually concentrating more and more in the top 1% of the country’s population. Report mentions that India’s top 1% owns 40.5% of the country’s riches. The huge disparity in wealth distribution is due to the fact that wealth created in the last 10 years has gone in the hands of 1% of the entire population.
