The Rich Get Richer and the Poor Get Poorer

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The world’s wealthiest 1 percent increased their financial income by 12 percent in 2018, to an average of $2,500 a day, while the underprivileged half of workers that make up the world’s 3.8 billion poorest saw their earnings drop by 11 percent, according to a report released by the nonprofit development organization Oxfam on Monday, Jan. 21.

The report, titled “Public Wellbeing or Private Benefit?” was presented during the Davos World Economic Forum in Switzerland and highlighted the danger of the increasing financial gap between the world’s riches and the world’s poorest.

It also pointed out how governments help to increase that gap by offering fiscal incentives to large corporations and wealthy individuals without providing basic public services such as health and education for its larger populations.

The report said that women and children are most negatively affected by increased poverty.



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