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Wealth tax on super-rich could raise £1.5tn globally, campaigners say (www.theguardian.com)

submitted 3 months ago by MicroWave@lemmy.world to c/world@lemmy.world

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The Tax Justice Network said trillions could be raised with a ‘featherlight’ tax on the 0.5% of richest households, copying a current Spanish tax

Governments around the world copying Spain’s wealth tax on the super-rich could raise more than $2tn (£1.5tn), according to campaigners calling for the money to help finance the climate transition.

As a growing numbers of countries consider raising taxes on the ultra-wealthy, the Tax Justice Network campaign group said in a report that evidence from a “featherlight” tax on the 0.5% richest households in Spain could help raise trillions of dollars globally each year.

The Spanish government, under the socialist prime minister, Pedro Sánchez, introduced a temporary “solidarity” wealth tax in late 2022, which is collected in 2023 and 2024, on the net wealth of individuals exceeding €3m (£2.6m). It is estimated to apply to the richest 0.5% of households.

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[+] johny -12 points 3 months ago* (last edited 3 months ago) (3 children)

Here is an idea, how about the US uses its military to enforce a minimum wealth tax worldwide to end tax competition, instead of to enable its proxies to commit war crimes.

[–] Lets_Eat_Grandma@lemm.ee 11 points 3 months ago (1 children)

So you're proposing that the US tries to go conquer the world. Are you insane?

[–] johny -4 points 3 months ago

I’m not in favor of gunboat diplomacy, but if the US is doing it anyway (to enable genocide) I would rather have them do something useful with it.

And using a military to enforce policy does not equal conquering the world, it’s at the end of the escalation ladder, diplomatic pressure then sanctions, embargoes, support regime change, militarily blockades, limiting military operations, and finally full on invasion. These are all things the US is already doing but then for nefarious reasons.

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