the chair of the california reparations task force. she says the recommendations come after looking at nearly 2 centuries of history. the recommendations for reparations must include compensation restitution, which account for stolen land stolen wealth, stolen opportunities, rehabilitation free education, free health care is examples. i'm not saying and those are going to be the final recommendations. not all black people in the state of california will be eligible for reparations in the state. but those who are the descendants of freedom, say, black people living in the us part in 1900100 will be eligible. taliban leaders have begun enforcing a ban on poppy cultivation. and i've gone asked on the group ones to end the production of opium and heroine. the decision will affect millions of farmers who rely on income from the cross. feared it could lead to an increase in organized crime. ah,

hello again. the headlines on al jazeera, the world's leading, all producers are discussing whether to increase outputs. opec is considering compensating for a drop in supplies from russia that follows and you bound on imports on western sanctions imposed after russia invaded ukraine. russia says it's destroy dozens of pieces of ukraine and equipment and hit several targets in the east. during the past 24 hours, russian forces have taken control of more than 70 percent of the of our john. yes. agencies are calling for an extension t m. and sees fire, they say could help millions of people at risk of extreme hunger. the 2 month agreement between who the rebels on the saudi led coalition expired on wednesday. an 18 year old man has been charged with murder and domestic terrorism in connection with last month's shooting in a supermarket in buffalo, new york, peyton kendra and is accused of killing 10 african americans. those are the

headlines on al jazeera, more news coming up at the top of the hour. that's right after the stream. thanks for watching. bye bye for them. the. what. what do we need to know that on this we don't need to be active in the mac and i'm just going to put them to me. i think i mentioned at the new home and ya today. and i'm going to give you what we said. that's what they sent a couple of them . a lot of them at the when i don't

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high anthony ok. this episode of the stream is inspired by a new oxfam report called, profiting from pain. ok, some found that junior global pandemic, every 30 hours a new billionaire is created. at the same time, at least 1000000 people have been pushed into extreme poverty. so today we're unpack, outs, family report, and also ask a pandemic profiteers have a responsibility to make sure that they help people who has suffered during a pandemic. the top one percent and will not possess more than $200.00 trillion dollars and be our young underway of an unseen. ringback war, but they think that the media news, hey, we're here to have those possibilities a good back because we have to remember there's no south south sort of seem that a survey, man. we have all again, our want true,

the society sure good. her rose into pressure, her good workers, and so all so we're good to get back. let's meet your panel who are ready to talk about extreme. well, some what should be done with that extreme wealth? julia everett at shall welcome to the stream julia, please introduce yourself and tell our audience a briefly your connection with extreme wealth. hello. yes, yes, my name is today if and i'm a member. busy question as you pay for a group of people who have come together to raise the issue that very imperative need to increase tax from wealthy people. so to do in our group you, you need to be a multi millionaire. i'm not necessarily as wealthy as our chancellor. the exchequer isn't really listening to us at the moment that you do need to be in a position that you will have to pay the kind of health plex that we're calling.

i've talked to him of the checkout in united kingdom as the minister of finance. he has a lot of money. eric hello, welcome to the stream. introduce yourself and say very briefly, your connection with extreme wealth. sure and thank you for having me. my name is eric tamir and i work in ox them america, which is part of the broader oxfam international from federation. and i'm, my focus is on the private sector and our mission really is to fight inequality in order to eliminate poverty. and so more and more our focus has been on how we can reduce inequality in order to meet our mission. get to hattie and welcome back. i shall always love to have you on the stream, your connection to extreme wealth and re introduce yourself to audience please. a booking country, my connection to extreme with the extreme,

clear to leave the pharmaceutical industry in the west has led consequently to the loss of life for the please. the lack of availability of life saving medicines to people in countries that i worked in. i represent and it's been a, it's been a, it's been a better relationship with extreme world. and what that let me to start a stand role that monopolies played this, not just in the pharmaceutical industry, but elsewhere as a symptom of this grotesque concentration of wealth. and power. all right, you've met the panel. you can be part of our discussion as well. on the chief, the comment section is like your comments or questions for i guess i'd be part of today's show, this idea in it. other billionaire being created every 30 hours, how long does it normally take for abilene i had to be created? is it some kind of speed it up process because of the pandemic? because that is a pretty shocking it is. and look, we've been living for in

a call with inequality now for quite some time. but the pandemic did supercharge how quickly billionaires are being created. so just to give you another, a point of contacts, billionaires have made more in the last 24 months of the pandemic than they did in the last 23 years. so this gives you some idea rate of just how quickly billionaires are accumulating wealth. and it's growing exponentially, and this is really troubling because it's at the same time that this is happening, we are seeing nearly half of 1000000000 a quarter of a 1000000000 people being pushed into extreme poverty. and that means hunger for many, many people. julie, would you mind cuz i love to hear you say this, just say out loud. what a 1000000000 actually means because it is so much. go ahead. i

keep getting the need to say this because i am in the media and they found the same very different thousands 1000000000000000 as a 1000000000 dollars. some of the high dollars. i'm not just a huge sum of money, which most people just cannot imagine what they would do with that sum of money. i'm one of the questions that we've been considering partial to me and has is, can somebody have too much money? and i've been thinking about my last couple of days and i guess they can indicate that someone has too much money. one of them is the only thing that they can think of suspends some put money on is getting a big cpr, another buddy or, or, or traveling to space for fun. we do the climate crisis and that is actually intricately connected to poverty. i'm sure you know me if you know we are going to be suffering

law policy or not more stream crises, health crisis, everything's going to be across the basis. i'm. so if you have someone that has so much, well that they can think of things that well, it's these things which i just mentioned, a contributing already tough on process that we are facing. i time just thinking about some of the pharmaceutical new billionaires that have been created during a time of one of the the worst times. and i, history and living memory for the whole world. i know that we've spoken about this before, but we're really focusing in on why did that wealth come from? how do they get so rich in just a couple of years? the thing about it is that one handful of new 1000000000 created out of

the field of biotech, which is the company in germany that created the back team that they've given the gate and and the ceo of montana who have been who is an american and these 2 seos did something extraordinary in the public. they created a 2 m r n, a vaccines using messenger r, an at, at knology, that we're concerned with other directions in the market, which is why get them in europe and united states. and they created revolution and technology because these actually, the easier to hit any of the vaccines in pad prior to the fact that there's just one problem with that. they're not available anywhere outside of your united states . i work in 3 countries, brazil, south africa, brazilian south africa. now, i mean, how much later than europe is have access to

a fight the back seats in the country with 1300000000 people about a 6th of humanity with has 0 access to a minor vaccines. and so when you look at who gets the, who gets the benefit of this extraordinary technology, this extraordinarily lucrative technology, it's incredibly perverse to put these things together because i've lost that runs with oxygen to the, to lead, getting back to and you just suppose that with this extraordinarily astounding. you work that's been created by me on the basis of a life saving good that has been brought to sleep, denied to everyone who could get one. i find that the earth, i'm astonished you can live with now. can i just add to that? and because i completely agree and you know, to add

a little bit more color here. 40 new pharma, billionaires since the pandemic, 40 because of companies like madonna and pfizer, who are, by the way, making a $1000.00 profit every 2nd. just because they have this monopoly control over profit 19 vaccines. this is despite the fact that the development was supported by billions of dollars of public investments. i mean, this is one of the things i think we need to really consider when we think about inequality and how billionaires make their money as one of your i think guests pointed out, it is built off the infrastructure of the public investments that all of us pay for through our taxes and yet billionaires are not contributing to the tax revenue in the same way as every day working. people are in then. sure. yeah i'm, i'm just thinking here because we're talking about billionaires as if they are on

nameless people. but some of the wealthiest people have made more money for agriculture and food during the pandemic. tell us one story, so we can put a face on the billions in vapor. yeah. that, yeah, happy to. well, if we look at food and food billionaires, 62 new food billionaires have been created as a result of the pandemic. and this now food crisis and people like james cargo, mr. cargill was probably act to have those potentially celebrating with all the other billionaires to be done so well. during this time, his family is the 11 richest family in the world. they own the majority of cargill, which is one of 4 companies for the control over 70 percent of the global market of agricultural commodities. right. these are commodities like wheat and other greens that are critical, food staples,

were so many people living around the world. their wealth grew by almost $20000000.00 every day since the start of the pandemic. and each day they were making $20000000.00. their profits were $5000000000.00 in 2020 on which was the biggest they've ever made. and they're expected to exceed those profits. this year they went from having 12, excuse me, 8 billionaires before the pandemic to now having 12 billionaires. since the pen. all right. yeah, so you know, these are real people that are, that are literally profiting off the pain of many, many people. so what we can say, yeah, anytime i think it's really good to put in the context, you know, how working people are firing in comparison to the multi 1000000. so in the u. k,

we've been looking for wealth taxi for forward a reasonable proposal for wealth tax, which would've kicked in a wealth to be involved. that was, it wasn't considered on the same time, much the insurance, which is the formal presentation which only people only pay national on income for walking. they don't receive it from income that they receive or well, which is what a lot of multi 1000000 hasn't been as will receive rejected. and so instead of taking a contribution from the wealthiest party to, to tackle the crisis that we are facing here in k one, the wealthiest countries in the world. we now have with that increase in 1000000000 has been coincided with increasing the finance in the u. k. shame for shameful. it's also an increase in people who are working extremely hot and still unable to pay the families. so we have been increasingly just gathering

a more and more all of the, of the wealth well and the same time people are working really, really hard in, in countries that should be wealthy for or might. and they cannot see families even whether walking they can manage to i'm just thinking about one of the things that i know you focus on a monopolies. and the idea that wealth is being concentrated in a way that it wasn't in the past. what are you seeing? what can you share with us? what did the only thing say about a solution to this crisis of burgeoning the quantity again? and it's interesting that jupiter set this up and on this plan to decide several times. of course, if i do a progressive taxation, which of course i support, i think, and one very good lee to try to curb disney quality. but it is of course treating the symptoms rather than addressing the root of that problem. and i think the root

of that problem in, in history, and especially today, live in a kind of grotesque concentration of wealth and power, which is often is out of a legally granted or an accidental monopoly. there are no accidental monopolies. of course, at least one of these are very intentional, but they haven't been, they haven't been granted to monopoly in the way that in the pharmaceutical industry companies are true agents, for instance, when we think about monopolies agenda. so if we talk to ordinary people about monopolies in regard and say, what do you think you think about is good? the instinctive answer is no. it path for the economy is that for society, economists that work for decades against the idea of monopolies. we all understand them instinctively or thing for the bad for us, and yet we have so many of them. this is astonish, right? and i think what we need to address the root causes of this trillion,

same inequality that you're seeing for us is to take the idea of regulation of monopolies seriously. it's. busy first, to reconsider what we think off is legal monopolies, why we have them and see if they have any place or whether they need to have a re adjusted place in society. and then to look at the kinds of accidental monopolies we have, like in the tech industry, for instance, whether it's google in search or whether it's amazon. as far as shopping goes, we need to be able to have the muscle to take on these extremely companies who employ hundreds of thousands of people and have a kind of extraordinary, extraordinary political clout as a result. but if we had the ability, the design and then the must to create and enforce the kind of recognition back country like united states in europe actually been enforced far better if you in 50 or 60 faculty, but 100 get back there today. and if we took that idea seriously everywhere that

the work, because the humans are not just being created in the united states and europe happening and kinda where i live, we would, we will understand and be able to back up one, any significant route off the versioning inequality that we prefer. alright, i'm i and my to mean this julia, but is there a reluctance to tax the wealthy? is that in my mind? is that a reality? well, my guess in my mind as well i'm, i'm definitely feeling. so as i said in the run up to the screen statement, which was the statement which chunk for the 2nd, i saw it basically he, he saw it where i text is being taken from the country in the run up to that we put in proposals as i said for a while back we would pay me to explain that that would be kicking when people can buy well for themselves. if you got more than $5000000.00, you pay,

you pay. i can afford to pay more, but we weren't we, when we were no defensively another settings, a tax worker was put in place. and when we raise this, we get 2 things for us. one is, oh, he wants to play with tax payments that nobody, something you will not tax philanthropy. i don't think you'll find that quite a lot. well, how to address, which is crazy for a holiday. my comment cross, this will an environmental homes which i think go to the hollow everything bit, anyone could possibly, kara aloud and gillian, one of the on get on sit on the screen if we put it on. well, julie just saying, hey, i'm just saying are on the screen while you're talking, we have millionaires protesting and dabbled because they want to pay more tax carry on doing. yeah, absolutely, absolutely. so as i said, and we say that we like to be tax, the results that we've had for that,

which i think is, is quite bureau, to be honest, is that we can pay more taxes. we won't see that. that's not new. jason, that's our me fella. one puts out at 1000000 as you go, i'm, it ain't help anything, is just a few of us pay a bit of extra tax. what we need is a systematic taxation or well, and that will address the multiple crises that we are facing, both in the u. k. and across the world, because obviously we need this to happen a global level. yeah. the other thing that we get ramos is if you put, if you came post well, thanks. well, all wealthy people will just go abroad. well, what i say to that is, you know, if you really care about your country so little that you're willing to move abroad to avoid contributing. well, you know, a solving was all the problems that we face. you know, all the problems at nana chassis facing and the rent is, yeah, do they ask that you know of their duty fatty to use? we've made you, you've made all the arguments because you hear them all the time. is the stereotypical arguments for why the wealthy can't pay tax and you're saying as

somebody who is in that privileged position, if i may say so that these are not good solid reasons. let me show to our audience at what an annual wealth tax could do. what are the possibilities of an annual wealth that it could generate as much as 2.5 to 2000000 a year? the enough to live to point 3000000000 people out of poverty, make enough vaccines for the world. deliver universal health care, social protection for everyone in middle lower income countries that is on an annual wealth tax. earlier we spoke to julia and julia said, though, there is a problem with asking people to pay a tax when they're already extremely wealthy. and she brought up a couple of issues hitches the i city, the research that was conducted in african countries. so far mindset wealth in the vigils in these countries are under tax. and it's not that it can't be done. many

of these countries have enabling laws in place, the wealthier, publicly known, and they invest in very feasible ways, most notably in land and buildings. the challenge is political will. eva, because the wealthier politically connected, or they are politicians in a 3 year study that we conducted in uganda. for example. we found that out of 70 government officials who own big businesses, less than 2 percent of those individuals who are paying personal income taxes. julio, any pushback, some of those problems with the wealthy, wanting to pay tax or trying to evade tax i want to bring in alex called them here . who is very appreciative of what ought fan the conversation? odds fan has started? yes. well

in damages our site meetings are ish, a and it's a major area and i just jump it. yeah. yeah. go ahead as, as we put the recommendations out for, for alzheimer's, suggesting but i tell you, go ahead. i want to say that i so support this idea of a progressive taxation. the tax laws type good, have a generate more revenue for government. i think what government do is that, what state to do with that is also really important to address the root causes of these versioning, billionaire to play and give you an example of what i mean. i work across india, brazilian, south africa and i was looking at just a bit now several of the building as in health care in india own hospital change. so this is a very specific sector off the healthcare industry. they run hospital change right

. there are no millionaires in south africa, brazil who john hospital chains, and that is because brazilian of africa, excellently functioning public assistance that are very well funded. that the large income spectrum of people in brazil and south africa use, right. whereas in india, we have a very poorly functioning health care system which only the very poor and the absolutely desperate use. whereas everybody else from lower middle class upwards we'll use private healthcare and private hospital. right. and so to the extent that the state of creates the and actually just performs its duty, does what it needs to order. the state doesn't have to run the equivalent of netflix to keep people entertained in a panoramic. netflix made a lot of money out of the pandemic as well. right? and so, you know, it's not like the state has to step into every single thing to take care of citizens. but if it were to address the very basic things that it could do for its

people in terms of basic healthcare, basic education, you would, you would, you would remove the opportunity to create a whole new class of dozens of billionaires in those industrial sectors. because the state is actually doing its job, i to, i'm just going to finish up with, with some recommendations area. i'm going to make to do something in just a minute. if i can not, i always oxfam se these can't. i mean profiteers are making the world a worse place for many people suffer during the pandemic. you also had some recommendations, so it's a good place to end the show. let me share them with you again. and you can help us understand. what do you think is the most important, the most tangible out of these recommendations? that is most doable because you really are changing the wealthiest people in the world to pay up it final thoughts? yeah, look, we absolutely have to start taxing but extreme wealth that exists and we have to do

it on a regular basis. so that annual wealth tax is going to be the systemic solution that we need in place threw out the other 2 solutions really are responding to the moment in time. right, right. the pandemic, the crisis. thank you so much. air, it's an i chow and judy are the so much more to talk about that. thank you so much for understanding and helping us to understand how people are profiting from pain. and then maybe what some of the solutions are for that. thanks for joining us. i see you next time take everybody ah do on al jazeera as washes invasion as the frame approaches the 100 day mark. we bring you the latest from on the ground and the wars global impact. and you 3 part

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