The top 4 ways big corporations are fueling global wealth inequality: report

Big corporations are preserving a status quo that harms the working class, Oxfam's report found.

Inflation has far surpassed wages, causing almost 800 million workers to lose out on $1.5 trillion in wages over the last two years, according to Oxfam's analysis. Those affected most included women and racial minorities.

Yet some corporations are using their influence, Oxfam says, to fight federal minimum wage increases and minimize child labor laws. Others focus on anti-unionization efforts, keeping workers in a weakened position relative to executives and shareholders.

The wealthy business owners and their corporations have engaged in a "sustained and highly effective war on taxation," Oxfam found.

Though some of the mega-wealthy have voiced the need for them to pay their fair share, but the disparities are still gaping and calls for a global billionaire tax, which could yield as much as $250 billion annually, have not gained traction.

"Corporate taxes are disproportionately borne by the richest, thus the collapse in corporate taxes in recent decades has essentially provided another tax cut for the wealthy," Oxfam's analysis found.

The wealthy have found that an easy way to generate more wealth is by privatizing public services like education, healthcare, and even water access. As private equity firms increasingly seep into the public sector, they undermine the state's ability to provide equitable, universal services.

"Privatization can drive and reinforce inequalities in vital public services, entrenching gaps between rich and poor, excluding and impoverishing those who cannot pay while those who can pay are able to access good healthcare and education," Oxfam found.

Climate change has put a clock on inequality, generally leading to worse outcomes along gender, racial, and socioeconomic lines, Oxfam found.

Billionaires around the globe "own, control, shape and financially profit" from businesses that rely on fossil fuels and greenhouse gases.

The wealthiest governments "have a particular responsibility" to combat this "given their disproportionate influence in setting global 'rules and norms,'" Oxfam's report found.