Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

cross-posted from: https://lemmy.ca/post/7812592

cross-posted from: https://lemmy.ca/post/7812500

PARIS, Oct 23 (Reuters) - Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research group hosted at the Paris School of Economics said.

  • Showroom7561@lemmy.ca
    191·
    1 year ago

    The fact that anyone can amass that amount of wealth means that far too many people were not paid enough.

    How about this: Tax them as much as it would take for them to experience hardship, just like the rest of us.

    A family making under $75,000 these days is barely able to make ends met, so the tax they experience causes suffering. Yet the way we tax billionaires makes no difference at all to their quality of life. Tax them more. Until they feel it.

    • DeathsEmbrace@lemmy.ml
      7·
      1 year ago

      This entire world is based around a system that promotes “oligarchy with infinite political bribery” so good luck.

    • geolaw@lemmygrad.mlEnglish
      3·
      1 year ago

      If we want an economy with a floor, so no-one is living in poverty, then we also need a ceiling.

    • EddoWagt@feddit.nl
      11·
      1 year ago

      The problem is that they’ll just fuck off to a country with less taxes, so you’ll lose all the taxes that they paid before as well