Reported about 1 year ago
Brazil has proposed a global tax on the super-rich in a report commissioned for its G20 presidency. The report suggests taxing individuals with over $1 billion in assets at 2% of their wealth, aiming to raise $200-250 billion annually to fund public services and address climate change. Economist Gabriel Zucman highlighted the need for a progressive tax system to combat inequality, noting that billionaires currently own 13% of the world's GDP.
Source: YAHOO