Oxfam says tax cuts have benefited the rich

Oxfam, the international anti-poverty organization, released a report Friday on how the world’s billionaires and poor people are doing economically. And the short answer is: the former are up while the latter are down. Oxfam crunched the income and wealth numbers based on data from Forbes’ annual billionaires list and Credit Suisse’s “Wealth Databook.” The release comes as the world’s economic elite movers and shakers kick off their annual World Economic Forum in Davos, Switzerland.

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