The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, including Bill Gates and Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday. “Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.”A report last year said the richest 62 people on the planet in 2015 owned as much wealth as the poorest half of the population. Oxfam used Forbes' billionaires list, which was last published in March 2016, to make its headline claim. And business leaders should commit to paying their fair share of taxes and a living wage to employees. “We have a situation where billionaires are paying less tax often than their cleaner or their secretary,” Lawson said.

Source: Los Angeles Times January 16, 2017 02:36 UTC