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World's richest 1% gets 2/3 of $42 trillion in new wealth: Oxfam

According to Oxfam's "Survival of the Richest" report released Monday, the share of the richest is nearly double that of the bottom 99 percent of the world's population. According to the report, the wealth of billionaires increased by $2.7 billion per day. Oxfam said the best-off had added $26 trillion of new wealth to their personal fortunes by the end of 2021, urging for taxing the super-rich and the big corporations.

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"Taxing the super-rich and big corporations is the door out of today's overlapping crises. It's time we demolish the convenient myth that tax cuts for the richest result in their wealth somehow 'trickling down' to everyone else," she added. "Forty years of tax cuts for the super-rich have shown that a rising tide doesn't lift all ships —just the superyachts."