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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/[email protected]

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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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[–] Zippy 1 points 1 year ago

This is also worldwide. While wealth inequality is an issue, it really would have little effect on the poor or middle class. You could tax them at 100 percent and it would only marginally increase tax buffers. There are simply too few of them compared to the middle class.