“Wealth tax can change both gender and racial inequality”

“Tax enforcement will reduce both gender and racial inequality,” said Gabriela Bucher, Oxfam International Executive Director, highlighting the importance of the wealth tax.

Oxfam International Chief Executive Gabriela Bucher said in an interview with Bloomberg HT in Davos, “The trend shows not only that inequality is increasing, but that the rate at which accumulation is increasing at the top is also increasing. After 25 years, we see that poverty begins to increase. The cost of living for millions of people is rising. One out of every 10 individuals faces hunger. We invite everyone to rethink this system.”

“Unfortunately, inequality is on the rise, both within and between countries. Sometimes when special supplements are given, as in the pandemic period, this situation decreases, but in general, inequality in the middle of countries is also increasing. 95 percent of companies doubled their profits during the pandemic period. Some countries tax profits extra. I think this is applicable to many companies. We need to consider this possibility not only now, but also in the future.”

Drawing attention to the value of the wealth tax, Bucher said, “Before the war, more taxes were imposed in the USA and other countries. On the other hand, in the last 30-40 years, taxes on companies and the wealthy have been reduced; because it was thought that this would create more beings and this would disperse to the lower strata. In reality, the average citizen in the 99 percent segment bears the burden of public services. That’s why we need to tax again and tax the wealthy more.”

Stating that the tax application will reduce both gender and racial inequality, Bucher said, “Women carry more burden in the middle of the poor. The people who are racially discriminated against are poorer,” he added.