Billionaires Tax and Oxfam’s Poverty Reports

Oxfam no 202918 is a registered charity in England and Wales  and in Scotland SC039042. Oxfam GB is one of 20 members of the international confederation Oxfam.

From accounts just published in respect of 2017/18 Oxfam GB spent £336.9m on charitable work (£173.2m on humanitarian work, £151.6m on  development work and £12m on campaigning. A further £100m was spent on trading costs (net income £18.9m) and fundraising.)

Also just published is a report on equality and poverty saying ‘Last year, the poorest half of the world became 11% poorer, while billionaires’ fortunes rose 12% – or $2.5 billion every day….. The gap between the richest and poorest people is growing.’

Having  a Pop at Billionaires

The poverty report wants to engender a movement that creates a higher tax income from the Super-rich. This simplistic approach applies whether they are rich in terms of income or asset values. Rich list Americans like Amazon’s Jeff Bezos, Microsoft’s Bill & Miranda Gates, Facebook’s Mark Zuckerberg, Larry Ellison, the Walton family of Walmart fame, Warren Buffett, the Koch brothers and the Mars family who are collectively worth well in excess of $500 billion.

Large corporations systematically hide their corporate profits in overseas tax havens to avoid tax. This is supported by Oxfam research under the headline ‘Drug companies as tax dodgers, price gougers, and influence peddlers that named four pharmaceutical corporations – Abbott, Johnson & Johnson, Merck & Co and Pfizer. Tax dodging, high prices, and political influencing by drug companies exacerbate the yawning gap between rich and poor.’

Comment

  • Oxfam is going through a turbulent period and interested charity watchers will be pouring over their latest annual reports and accounts. These detail some of the structural changes planned or implemented to restore the recent loss of confidence.
  • Billionaires are an apparently easy target to gain extra resources. Where is the effort to curtail corruption, political incompetence/misfeasance and other forms of oppression which would wastes resources gained from a billionaires tax.
  • Oxfam is a large and potentially cumbersome organisation that in our opinion needs to continue changing and honing down it’s focus to protect the core work that it should do.

Be the first to leave a comment. Don’t be shy.

Join the Discussion

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>