Thread by @maxlawsontin

My favourite charts from this year's Oxfam Davos report, Survival of the Richest. 1/9

Over the last decade, the richest 1% captured half of all new wealth. Since the beginning of the 2020's, this has accelerated to almost two thirds. 2/9

Like a mountain that keeps on growing, billionaire wealth has doubled over the last decade. Losses in the last year totally eclipsed by gains in 2020 and 2021. Billionaires are $2.6 trillion richer than before the pandemic. 3/9

One big reason- tax rates on the richest have fallen dramatically since 1980, whilst at the same time the share of income for the top 1% has increased. 4/9

This is a global phenomenon- top rates of tax have collapsed all over the world. 5/9

Many developing countries have huge potential to increase taxes on wealth, like property taxes 6/9

Or inheritance taxes. Half the world's billionaires, with assets of $5 trillion, live in countries with no inheritance tax for direct descendants- a new 21st century aristocracy in the making. 7/9

As we look to the future- we have a choice- will the billionaire mountain continue to grow, or will we see the other side and start on the road to a fairer world without billionaires? 8/9

As always a pleasure and a privilege to work with the many brilliant people inside and outside of Oxfam on this. 9/9 #FightInequality

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