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World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

World
Jan. 21 (UPI) -- The economic divide between the world's haves and have-nots widened last year, as the planet's billionaires saw their collective wealth increase by $ 2.5 billion a day while humanity's poorest half saw its wealth drop by 11 percent, a report published Monday by Oxfam showed. Published a day before the start of the World Economic Forum in Davos, Switzerland, the "Public Good or Private Wealth" report by the anti-poverty NGO states that the number of billionaires has almost doubled since the 2008 financial crisis while the world's corporations and super rich are "undertaxed." "Governments have been reducing both the top rate of personal income tax and the rate of corporate income tax over the long term," the report said, adding that if this were reversed, countries could af...