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

submitted 1 year ago by [email protected] to c/news

27 comments fedilink hide all child comments

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.

Currently billionaires' effective personal tax is often far less than what other taxpayers of more modest means pay because they can park wealth in shell companies sheltering them from income tax, the group said in its 2024 Global Tax Evasion Report.

"In our view, this is difficult to justify because it risks to undermine the sustainability of tax systems and the social acceptability of taxation," the observatory's director Gabriel Zucman told journalists.

Billionaires' personal tax in the United States is estimated to be close to 0.5% and as low as zero in otherwise high-tax France, the Observatory estimated.

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[–] [email protected] 6 points 1 year ago (1 children)

If billionaires were taxed according. How would that help/hurt society in the next 100 years or so.

For example would many of today's problems not be a problem if this has been happening all along?

Legitimate question here.

[–] RalphWaldoEmers0n 3 points 1 year ago

Depends who is spending it