The clock is ticking. There is a huge gap between the super-rich and the rest of the world population that is trapping millions in poverty, fracturing our societies and undermining democracy. With limited resources to get education, health services, more people are living in fear of poverty and fewer in hope.
Oxfam’s global report on inequality looks beyond the drivers of inequality and has come up with recommendations to address it. Rooted in our programme work, it recommends multiple ways in which governments can tackle inequality, address the gender wage gap, invest in public services and change tax rules to make big business pay their fair share. Read more
You can help put an end to inequality.Your action is urgently needed. Sign this petition and we will take it to the Indian government.
It's time to build an economy for the 99%, not the rich 1%. It's time to #EvenItUpIndia.
The net worth of India’s billionaires is enough to eliminate absolute poverty in the country twice over. #EvenItUp oxf.am/CvQ
Click here to download the report
But how big is the inequality gap? Check it by the numbers:
- Just 8 men own the same wealth as the 3.6 billion people who make up the poorest half of humanity. None of them has earned his fortune through talent or hardwork, but by inheritance or accumulation through industries which are prone to corruption and cronyism.
- 7 out of 10 people live in a country that has seen a rise in inequality in the last 30 years.
- The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years. So, you would need to spend $1 million every day for 2738 years to spend $1 trillion.
Did you know?
- The richest 1% of Indians have 58% of total wealth.
- In India, 57 billionaires have the same amount of wealth as the bottom 70% of India.
- In India, billionaires increased from two in the 1990s to 65 in 2014.
- Net worth of India’s billionaires is enough to eliminate absolute poverty in the country, twice over.
- More than half of the Foreign Direct Investment (FDI) in India is channelled through tax havens.
- The Indian government spends almost twice as much on its military as on health.
- Money that can be invested to tackle inequality is diverted by tax breaks & public-private partnerships.
The India Solution
- If India stops its rising inequality, we can rescue 90 million people from extreme poverty by 2019.
- Reducing inequality by 36 percent reduction can eliminate extreme poverty and save another 83 million people.
What our government can do
- Introducing an Inheritance Tax and Raising the Wealth Tax
- Not reducing existing Corporate Tax rates and eliminating tax exemptions for Corporates
- Cracking down on tax dodging by corporates and rich individuals, and ending the era of tax havens
- Increasing Public expenditure on education from 3% GDP to 6% GDP
- Increasing Public expenditure on health from 1% GDP to 3 % GDP
A human economy that works for the 99%
Together we need to create a new common sense, and design an economy that benefits everyone, not just the privileged few. A new human economy that would create better and fairer societies where workers receive decent wages, women and men would be treated equally, children would have opportunities to break free from poverty. Join the cause.
Today, global outrage against extreme inequality has started showing—the Occupy movements, Arab Spring, street protests by millions of Brazilians demanding increased spending on basic entitlements reflect the anger.
16 Pictures From Imagining Inequality That WiIl Tell You The Truth #evenitup
Click here to view 16 Pictures From Imagining Inequality That WiIl Tell You The Truth
6 Million children in India are still out of school, five years since the RTE Act came into effect. Read more
Join our 'Even It Up' campaign and be in at the start of something special - a growing global movement demanding a fairer world and an end to inequality.