Global billionaire tax could yield $250 billion annually, study says

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

cross-posted from: 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.

mufasio,

How about this? Once you reach $1b in cash and assets, regardless of where that cash and assets are parked, you get a trophy saying “Congratulations you did it!”, and then we take the remainder of your cash and assets and use it for the advancement of humanity. Providing food, water, and shelter for every human being on the earth. We use it to build high speed rail and local transit infrastructure that is free or low cost. We can even name them after you and put up statues. We use it to provide healthcare and education to everyone. At the end of every year, if you have >$1b in combined cash and assets then you get to fill out a form saying which combination of the cash and assets you want to keep up to $1b, and the rest is given to the state.

This is the peaceful, “reasonable” option that even liberals should be able to get behind. But they will make excuses about how they deserve it and the policy is wrong even as they are being exploited.

zerfuffle,

Did someone say communism

Kusimulkku,

Big could

Showroom7561,

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.

EddoWagt,

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

DeathsEmbrace,

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

geolaw,

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

Trudge,
@Trudge@lemmygrad.ml avatar

Just $250 billion annually?

Communists have a plan to extract much more from capitalists worldwide. Find out more on lemmygrad comrades!

BustinJiber,

Finally we will be able to pay for all those tax breaks for the rich.

shiveyarbles,

The whole schtick is taxing the populace and diverting it to the ultra wealthy. That’s the whole plan, everything else is just noise. Why would they (the rich who write the laws) change that, short of a revolution?

authed,

Revolution, same day next month… Let’s do it

shiveyarbles,

Oh damn my wow raid is scheduled that day

elouboub,
elouboub avatar

https://www.tax-the-rich.eu/

Belgdore,

The problem is that money would just be pocketed by the law makers or used to fund war.

Neato,
Neato avatar

Better it goes into government so at least people can vote to change it. If billionaires hold it they will just use it to influence the government and hoard wealth.

MenKlash,
MenKlash avatar

Better it goes into government so at least people can vote to change it.

We can't change it. Politicians would still have their monopolical powers because they help each other. Don't trust the government. Billionaires not only influence it, they also receive help from them.

SaltySalamander,
SaltySalamander avatar

so at least people can vote to change it

Fucking lol.

nonearther,

“So you’re saying more tax cuts to these billionaires? Done deal” - entire world’s leadership

Nawor3565,

That’s pretty insane, because that’s barely 1/3 of what the USA spends on its military alone every year. I think we can do better than 2%, these people won’t even notice.

(To be clear though, anything would be better than nothing. The chances of even a measley 2% tax getting passed is slim to none, and those chances get smaller the higher the tax is, so anything we can get is a win.)

PowerCrazy,

By the time you could get the Billionaires to “agree” to a 2% wealth tax, you would be in a position to demand basically 100% with progressive taxation of course.

  • All
  • Subscribed
  • Moderated
  • Favorites
  • •
  • worldnews@lemmy.ml
  • DreamBathrooms
  • thenastyranch
  • ethstaker
  • khanakhh
  • Youngstown
  • rosin
  • slotface
  • mdbf
  • vwfavf
  • everett
  • kavyap
  • cubers
  • ngwrru68w68
  • magazineikmin
  • megavids
  • Durango
  • cisconetworking
  • InstantRegret
  • osvaldo12
  • tacticalgear
  • tester
  • Leos
  • GTA5RPClips
  • modclub
  • provamag3
  • anitta
  • normalnudes
  • JUstTest
  • All magazines
    •