Billionaires' fortunes hinder fight against poverty, says Oxfam

The vast fortunes made by the world's richest 100 billionaires is driving up inequality and hindering the world's ability to tackle poverty, according to Oxfam.

The charity said the accumulation of wealth and income on an unprecedented scale, often at the expense of secure jobs and decent wages for the poorest, undermined the ability of people who survive on aid or low wages to improve their situation and escape poverty.

Oxfam said the world's poorest could be lifted out of poverty several times over should the richest 100 billionaires give away the money they made last year.

Without pointing a finger at individuals, the charity argued that the $240bn (£150bn) net income amassed in 2012 by the richest 100 billionaires would be enough to make extreme poverty history four times over.

more: Billionaires' fortunes hinder fight against poverty, says Oxfam | Society | guardian.co.uk

 i would add to this: in doing so they are not only ripping off the human population, but also the ecosphere and thus destroying the planet in the process through extraction, slavery, and psychopathy