World’s billionaires should pay minimum 2% wealth tax, say G20 ministers
Brazil, Germany, Spain and South Africa sign motion for fairer tax system to deliver £250bn a year extra to fight poverty and climate crisis
The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250bn a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.
In a sign of growing international support for a levy on the super-rich, Brazil, Germany, South Africa and Spain say a 2% tax would reduce inequality and raise much-needed public funds after the economic shocks of the pandemic, the climate crisis and military conflicts in Europe and the Middle East.
They are calling for more countries to join their campaign, saying the annual sum raised would be enough to cover the estimated cost of damage caused by all of last year’s extreme weather events.
“It is time that the international community gets serious about tackling inequality and financing global public goods,” the ministers say in a Guardian comment piece.
Try 90%, and they'd still have obscene wealth afterwards.
Exactly, 10% of a billion dollars is one hundred million. That's more than enough to live a cushy stress free life without ever working again if you're not an idiot blowing it all on dumb shit.
That puts you in the same net worth bracket as a lot of celebrity actors and musicians.
I'd argue that 100 Million, if invested with like 5% annual growth, would be enough even if you're an idiot blowing it all on dumb shit
0.018 Billions is 3.000 a month for 500 years.
Not what people think usually.