2024-07-01 18:49:50
Given the failure of wealthy nations to tax billionaires, a world minimal tax ought to be applied, argues a report commissioned by the brazilian presidency of the G20, which particulars learn how to apply that price.
The thought of taxing the most important fortunes on a world scale already has the assist of Brazil, French Spain y South Africa within the G20, which brings collectively the most important industrialized and rising powers. America, alternatively, declares itself in opposition to it.
“The richest individuals profit from a big tax privilege: they pay a lot much less tax than all different social classes,” he stated in an interview with the report’s creator, the French economist Gabriel Zucman.
This happens primarily as a result of tax programs, which impose greater taxes on revenue than on belongings; and it was exactly the improve in belongings which basically explains the buildup of wealth of the wealthiest in current many years.
The report requested by Brazilwho holds the annual presidency of the G20, estimates the present tax price that billionaires pay on their belongings at 0.3%.
The latter have skyrocketed: the wealth of 0.0001% of the richest households, which represented 3% of the PIB mundial in 1987, it at present reaches 14%, calculates Zucman, a professor on the Paris Faculty of Economics and the College of Berkeley in California.
“Nobody or virtually nobody can agree with a state of affairs during which probably the most privileged taxpayers, who’ve a higher contributory capability, who’ve benefited from the globalization, have the fitting to pay lower than lecturers or firefighters,” stated Zucman, an professional on inequality points.
In 2021, the analysis medium ProPublica, primarily based in New York, revealed that a number of billionaires, such because the founding father of Amazon Jeff Bezos or the creator of Tesla, Elon Musk, at present the richest males on the earth, paid few taxes for a number of years or didn’t contribute a lot to the ISR.
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2024-07-01 18:49:50