An award-winning missionary magazine

WEALTH: Introduction Of Wealth Taxes

The fortunes of food and energy billionaires have grown by $453bn over the past two years, owing to soaring energy and commodity prices during the pandemic and Vladimir Putin’s war in Ukraine, a report by Oxfam has revealed. The development charity said spiraling global food prices had helped create “62 new food billionaires” in just 24 months.

Oxfam called for the introduction of permanent wealth taxes to “rein in extreme wealth and monopoly power”. It said an annual wealth tax starting at 2% for millionaires, and rising to 5% for billionaires, could generate $2.5tn a year. That would be enough, said Oxfam, “to lift 2.3 billion people out of poverty.  


Read These Next


ANNIVERSARY: Forty Years of Radio Veritas Mandarin Service

Programs produced by the radio service have been a vital source of support for isolated Catholics in China.

AFRICA: Youngest Bishop In The World

Father Christian Carlassare, a 43-year-old Comboni missionary who works in one of the most difficult areas in the world, South Sudan, is now the youngest missionary bishop of the Catholic Church.

PHILIPPINES: Balanga Diocese Cracks Down On Single-Use Plastics

The Diocese of Balanga has adopted the city’s directive which introduces a restriction on single-use plastics. Bishop Ruperto Santos said they are also discouraging the use of plastic flowers as…

Share Your Thoughts


Loading Conversation

Sign up for the newsletter

Getting your own copy of "Friends of the Mission" is free. Sign up with your complete address to get one delivered right to your doorstep.

Kindly double check that the information you entered is correct and accurate. Thank you!