or challenging the status quo for young public, eager to break from the past and see because so in a new light, nicholas hawk al jazeera, the car through a state of california has been told it should pay reparations and apologize for historic discrimination against african americans. camilla mall from the california reparations task force says the command recommendations come off looking at nearly 2 centuries of history. the recommendations for reparations must include compensation restitution, which account for stolen land or stolen, well, stolen opportunities. rehabilitation free education, free health care examples. i'm not saying that 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 free and it's a black people living in the u. s. card in 1900 will be eligible.

ah. without his era, these are top stories. humans who the rebels and the saudi. let coalition have agreed to extend a truce by another 2 months. you and has commended the warring parties for the deal . it says the sci fi has already led to a drop in civilian deaths in the last 2 months. the was leading oil produces of agreed to increase the output. opec members and the opec plus partners will raise output by $648000.00 barrels a day in july and august. the latest boost will compensate for a drop in russian oil. ukraine's president says russia now occupies a 5th of the country. voted may have lensky told luxembourg parliament, his troops on the frontlines stretch more than a 1000 kilometers and united kingdom in celebrating 70 years of the reign of queen elizabeth the 96 year old monex platinum jubilee. it's being marked to cross

britain and in its overseas territories for 4 days. those are your headlines. more news here on al jazeera after the stream? ah, 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 in the midst of the home and yeah, today, and we're going to be what we said as well. they didn't put me in a lot of focus when i know,

i mean, i mean me shooting off the edge of the we understand the differences and similarities of cultures across the world. so no matter where you call hand out, you sarah, will bring you the news and current affairs that mattie al jazeera did with. hi 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, fams 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 will not possess more than $200.00 trillion dollars and be our young underway or an unseen will. but that is that the remedial news. hey, we need to have those possibilities back because we have to remember there's no south south sentencing that a man we have over again. oh, through the society. sure. good. the rose into fracture.

good workers and so all so yeah, the good to get back let's me your panel who are ready to talk about extreme wealth of what should be done with that extreme wealth. julia everett, i chow, welcome to the stream. julia, please introduce yourself and tell our audience a briefly your connection with extreme wealth. hello? yes, yes. so my name is today on the number or question unless you pay a group of people who have come together to raise the issue with that very imperative needs to increase tax from wealthy people. so are you in our group, you, you need to be a multi millionaire. i'm not necessarily as well. here's our chancellor of the exchequer. isn't really listening to us at the moment that you do need to be in a position that you would have to pay the kind of health plex that way. corner counters of project checkout in united kingdom is 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 oc spam 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 had here and welcome back. i tell always love to have you on the stream, your connection to extreme wealth and re introduce yourself to audience please. a complete my collection to extreme with the extreme care to leave the pharmaceutical industry in the west has led consequently do the loss of life for the please,

the lack of availability of life's any 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 road and what that would be to sluggish down the road that monopoly is played. there's not just in the pharmaceutical industry, but elsewhere as a symptom of this grotesque concentration of growth. all right, you've met the panel. you can be part of our discussion as well on youtube. the comment section is like your comments or questions for i guess i'd be part of today's show, this idea it of a billionaire being created every 30 hours. how long does it normally take for billing it had to be created? is it some kind of speeded 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 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 well. and it's growing exponentially, and this is really troubling because it's, it's the same time that this is happening. we are seeing nearly half a 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. hello. i asked, i keep hitting the need to say this because of e and then the median. they sound the same, don't know that they are so very different and a 1000000000. that's what

a 1000000000 is a $1000000.00 less than, you know, someone who has a $1000000000.00. and us was just a huge sum of money, which most people just cannot, you know, believe in matching what they would do with that sum of money. i'm one of the questions that we've been considering at pascal cit, millionaires is, can somebody have too much money? and i've been thinking about my last couple of days and i'm already, yes they can. and what's indicators that someone has too much money will perhaps one of them is that the only thing that they can think of to spend a huge sum that money on is, is getting a bigger super bowl. another video buddy or, or, or traveling to space for fun. and we, we live in a climate crisis and that is absolutely intricately connected to poverty. i'm sure there's a oxfam will buy mia from us. you know, we, we are only going to be suffering a law policy, a lot more stream. and,

you mean crises, a health crisis, everything's going to be exacerbated by that. i'm. so if you have someone that has so much wealth that all they can think of it within that wealth, if these things which are just exponentially contributing to this already type on crisis that we are facing at. i'm just thinking about some of the pharmaceutical new billionaires that have been created during a time of one of the 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 did they get so rich in just a couple of years? so 1st thing about a one handful of your bill, you know to it out of the timing the see yours of by own day, which is the company in germany that created the vaccine that a pfizer gives you in the you k and united states. and the seo of montana who is

interested in mr. brookfield who is an american president. and these truly ceos did something extraordinary in the pandemic. they created a 2 m. r. a new vaccines was in messenger out in a technology that work in general, better than the other great things in the market, which is why get them in europe and united states. and they created revolution and technology because the vaccines that easier to him than any of the vaccines and pad prior to the paddock. there's just one problem with them is that they're not available anywhere outside of europe, united states. i work in countries, brazil, south africa, and india, brazilian south africa. now, i need much later than europe as you have access to a fight, the back seats in the country with 1300000000 people about 6 of humanity been dealing with that it 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 where it's incredibly perverse to put these things together because i've lost that granted they're making india if i was, are to do the delays getting back to and you just suppose that with this extraordinarily astounding new work that's been created by me on the basis of a life saving good that has been purposely denied to everyone who could get one. i find that the trinity i'm how can i just add to that? 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. busy over proven 19 vaccines, and 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 that infrastructure of the public investments that all of us paid 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 1000000000 as, as if they are on nameless people. but some of the wealthiest people will have made more money for agriculture and food during the pandemic. tell us one story,

so we can put a face on the billions it very brianne black. yeah, happy to. well i'm, 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 who have done so well. during this time, his family is the 11th, richest family in the world, they own the majority of cargill, which is one of 4 companies for the control over 70 per cent of the global market of agricultural commodities. right. these are commodities like wheat and other grains 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 pen demik. each day they were making

$20000000.00. their profits were $5000000000.00 in 2021, which was the biggest they've ever made. and they're expected to see 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, when i'm saying, 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 types forward as reasonable proposal for wealth, which would have been a wealth of the environment. that was,

it wasn't considered on the same time, much the insurance, which is a particular form of ration, which only people only pay national on income for walking. they don't receive it from the income that they receive or well, which is what's most multi 1000000 hasn't been as will receive rejected. and so instead of taking a contribution from the wealthiest and bossy to, to tackle the courses that we are facing in k one, the wealthiest countries in the world, we now have that increase in 1000000000 has been coincided with increasing you k. shameful, absolutely, shameful is also an increase in people who are working extremely hard and still unable to pay their families. so we have these billionaires increasingly, you know, just scattering more and more all of the, of the world's wealth. and at the same time, people working really, really hard in,

in countries that should be wealthy for all like the you k and they cannot leave their families even though they're working, allows that they can manage to. i'm just thinking about one of the things that i know you focus on a monopoly. i do, the 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 is the only thing about our solutions to this crisis of burgeoning equality again and it's interesting that jupiter said a bunch of this on several times of course is this idea of progressive taxation, which of course i support, i think. and one very good lee to try to go to cindy quality. but it is of course, treating the simpler and rather than addressing the root of that problem. and i think the root of that problem in history and especially today, live in are 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 illegal police 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 our, please good. the instinctive answer is no, it path for the economy is that for society, economists have worked for decades against the idea of monopolies. we all understand them instinctively as 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 truly and same inequality that you're seeing for us is to take the idea of regulation of monopolies seriously. this 1st 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 readjusted 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 valuable 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 to divide and then the must to create and enforce the kind of recognition back countries like united states in europe actually been enforced far better. if you in 50 or 60 faculty with a 100 get back there they can today. right. and if we took that idea seriously everywhere that the work because the human genetic not just been created in europe happening and we would under,

we will understand and be able to back up one significant root off the budgeting inequality that we prefer. alright, i'm, i am 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 that. so as i said in the run up to the spring statement, which was the statement which chunk for the 2nd, i saw it. basically, he decides what i typed is being taken from the shape in the run up to that we put in proposals, as i said, for a minute. well, facts we would paint to explain that that would be kicking when people really didn't buy well for themselves. if you've got more than $5000000.00, you pay, you pay, i can afford to pay more, but we weren't, we would, we would know decisively and other settings. if it's a tax,

workers was put in place. and when we've raised this, we get 2 things. one is, oh, he wants to play with the fact that maybe something you will, that's not time to say, i don't think you'll find to everybody group quite a lot, a little work out how to address, which is crazy for a holiday. my climate crosby and environmental homes which will go to the hollow everything that anyone could possibly kara out and getting on one of the other on sit on the screen if we put it on. well, judy just saying, hey, i'm just saying are on the screen while you're talking, we have 1000000 as protesting and dabbling 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's not new. jason, that's army villa. well, patches it 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're 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 a while class, 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 listen that you're willing to move abroad to avoid contributing there. 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 he knows of their duty fatty, to use you made you, you've made all the arguments because you, 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 2300000000 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 put up a couple of issues hitches the i city, the research that was conducted in african countries. so far mindset wolfy, individuals 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 either because the wealthy or 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 the conversation odds fan has started. yes. well, she's outside meetings are ish, a and it's

a marriage. eric and i just jump it. yeah, yeah, go ahead as, as we put the recommendations up 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 north american have generate more revenue for government. i think what government do is that, what state 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 from africa and i was looking at that just a bit. now. several of the billionaires 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 president 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 doesn't actually just performs its duty and does what it needs to, what 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 stick 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 gonna let you do something in just a minute. if i can not, i always oxfam se these pantomime 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 agile 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'll see you next time. take everybody. ah frank assessments. it sounds like you don't expect anything to change the problem, a lebanon, it's actually structural lebanon needs, and you also contract in order for it to solve this problem. informed opinions, international communities on the goal is to create

a government has no legitimacy in depth analysis of the data global headlines. this is going to be very hard to explain to the public that instead of pushing back, you know, it's actually got 2 members inside story on al jazeera. now the answer was an arabic. my name is howard, i was abducted by the c. i a, in 2004, a german citizen was kidnapped and tortured by the c. i came up with hancock, led me into interpretation. a new documentary tells the story of how the geo politics of the post 911 world grew in the life of an ines. they'll mastery case on al jazeera. it's rush hour at the local community center in lieu batch of 15 kilometers from the border with ukraine. that note that jack is a retired russian language teacher and is collecting goods donated by people from all over europe. thought i and we are helping people on the other side of the board

. the ones who stayed behind can lead since russia invaded ukraine. daniel to has been driving across the border every day. crossing the border is always tricky, but the women say that today they have a lucky day because the border guard is someone they know and they're trying to be hopefully much easier to bring the goods in are done. no to is we leave to find a less chaotic situation. and in the past few days, people seem less exhausted. just i'm, i'm not crying. as you can see. the notice mission has been accomplished for now, but you will return with more goods as long as russia's missiles and rockets forced people out of ukraine. ah, this is al jazeera ah.