As the wealth of U.S. billionaires soars by over a trillion dollars during the pandemic, Oxfam is warning COVID-19 could lead to the biggest increase in global inequality on record. A new Oxfam report finds it could take more than a decade for poor people to recover from the health and economic crisis, and urges governments to take immediate action. “In every country that we looked at, inequality has gotten worse during the pandemic,” says Paul O’Brien, Vice President of Oxfam America. “All around the world now, we are seeing folks struggling on the wrong end of inequality while those who have been the beneficiaries of our broken economic system have done quite well.”
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