Davos: The Rich Create Poverty

The super-rich are meeting in Davos and the Irish Minister for Finance, Michael McGrath, is joining them.

The Swiss shindig has become so discredited that other politicians are staying away because they do not want to be seen in the company of billionaires. But like an obedient servant, McGrath is there to show he will do their bidding.

Yet Oxfam has released a report that shows that the top 1% have grabbed two-thirds of the global wealth that has been created in recent years.

They are the main reason for global poverty. 850 million people are facing hunger and malnutrition as a result of their greed.

Our planet is burning because their insane drive for more profit means they keep on using fossil fuels.

Oxfam has called for a wealth tax and a windfall tax on the profits that are being made from pushing up prices.

People Before Profit have made similar proposals in the Dáil but Fine Gael and Fianna Fáil have denounced them.

Ireland has become a tax haven for the rich and this has put pressure on other countries to lower their taxes on wealth. Today just 4 cents in every dollar is taken off the rich in tax.

It is time to reverse all. We need strong left-wing policies that face up to the greed of the rich.