The world’s billionaires should pay at least a 2 percent wealth tax, according to a proposal reported by the British Guardian. Brazil, Germany, Spain and the Republic of South Africa have signed a plan for a fairer tax system, which would bring in 250 billion pounds (CZK 7.35 trillion) more per year.
The funds raised would be used to fight poverty, inequality and the climate crisis, the paper wrote. According to Forbes magazine, there are now 2781 dollar billionaires in the world.
Musk is no longer the richest man in the world. Kellnerová has the largest property in the Czech Republic
Economy
The signatory states called on other countries to join their campaign. They claim that the annual amount raised would be enough to cover the estimated cost of damage caused by all the extreme weather events last year.
Difficult task
French economist Daniel Zucman is now finalizing the technical details of the plan, which the G20 group will discuss again in June. France has indicated that it supports a wealth tax. Brazil, which now chairs the group, was encouraged that the United States, while not supporting a global wealth tax, did not oppose it.
“Billionaires have the lowest effective tax rate of any social group. “I don’t think anyone supports that people with the highest ability to pay taxes should pay the least,” added Zucman.
According to Oxfam, the rise in asset prices during and after the covid-19 pandemic meant billionaires were $3.3 trillion richer at the end of last year. This is an increase of 34 percent compared to 2020. A World Bank study has shown that the pandemic has halted poverty reduction.
But implementing change is difficult. “Wanting is one thing. Taxing global wealth in this way will probably be impossible,” Natland investment group economist Petr Bartoň told Novinkám. With regard to wealth, according to him, it is impossible to determine where it is located, and it would be necessary to agree on all the countries of the world.
It is a bit easier to tax income, where it is usually possible to trace from which country it originates, where it was generated. “So at most it will be some version of an income tax that will only pass itself off as a tax on the rich. But even after that, it will be incomparably more difficult than for corporations,” added Bartoň.
We will go to the land of King Miroslav. Winemakers from the border regions threaten to leave the Czech Republic because of the tax
Economy
