The number of rich people in the world is increasing tremendously along with the rate of poverty. As the number of rich people increased, the number of poor people was supposed to decrease, but in reality it has been different. People around the world, including the United States, are struggling to meet their basic needs. But even in this situation, only 1% of people own twice as much wealth as the remaining 99% of people.

Based on various factors, many have expressed that millionaires are bad for the economy. Today the richest earn 6 times more than the poorest 90% of the world. And this extreme gap is increasing drastically.

Rich people tend to pay very little tax. Its impact is greater in poor countries. But the poor people are relatively ahead in paying taxes. If the rich people had paid taxes properly, then the government could have used more money for the social development of the country and overall development of the country. Moreover, their proper taxation helped lift some people out of poverty.

Due to inflation, the number of poverty is increasing greatly. Nowadays a worker has to spend more than before where their income has not increased. The prices of daily essentials are now skyrocketing. Businesses have increased the prices of their products many times and they have adopted this inflation as a strategy to collect their money. Due the fact the rich get richer.
A study found that many companies made huge profits during this period while depriving their workers of the wages they received in return.

Some company owners have become billionaires when people are devastated by the pandemic. In countries like America, 33% of people are wealthier than before the pandemic and this is possible due to some reasons one of them can be corruption. Various measures to protect their own interests by using various government institutions have created opportunities for some people to make a lot of money.

Today rich people are destroying the environment where poor are suffering. The poor have no other choice but to look on, their various institutions are constantly obstructing them at various levels starting from environmental issues. But even if this disparity could not be removed, if the rich pay their taxes properly, a nation can be rich and prosperous. For various reasons people today are forced to say that the rich have nothing to contribute to the country.