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Oxfam Urges Global Wealth Tax Amid $3.55 Trillion Evasion

4/2/2026

35 6 Full Breakdown

Summary

Story summary

Oxfam estimates $3.55 trillion is hidden from tax authorities and calls for a wealth levy.
Offshore wealth reached $13.25 trillion in 2023, with 80% owned by the richest 0.1%.
The call for a global progressive wealth tax coincides with the Panama Papers' 10th anniversary.
UK chancellor Rachel Reeves has raised taxes on wealth.
The Green Party proposes a 1% tax on assets over £10 million, and some favor reforming taxes.

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Story summary

Oxfam estimates $3.55 trillion is hidden from tax authorities and calls for a wealth levy.
Offshore wealth reached $13.25 trillion in 2023, with 80% owned by the richest 0.1%.
The call for a global progressive wealth tax coincides with the Panama Papers' 10th anniversary.
UK chancellor Rachel Reeves has raised taxes on wealth.
The Green Party proposes a 1% tax on assets over £10 million, and some favor reforming taxes.