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Global billionaire tax could yield $250 billion annually, study says (www.reuters.com)

submitted 1 year ago by RandAlThor@lemmy.ca to c/worldnews@lemmy.ml

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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.

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[-] Showroom7561@lemmy.ca 18 points 1 year ago* (last edited 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.