Brazil, Germany, Spain and South Africa sign motion for fairer tax system to deliver £250bn a year extra to fight poverty and climate crisis
The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250bn a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.
In a sign of growing international support for a levy on the super-rich, Brazil, Germany, South Africa and Spain say a 2% tax would reduce inequality and raise much-needed public funds after the economic shocks of the pandemic, the climate crisis and military conflicts in Europe and the Middle East.
They are calling for more countries to join their campaign, saying the annual sum raised would be enough to cover the estimated cost of damage caused by all of last year’s extreme weather events.
“It is time that the international community gets serious about tackling inequality and financing global public goods,” the ministers say in a Guardian comment piece.
As a person from a diff cultural background, people and relatives who have more money always help and pave the way for a smoother future for the folks who don’t. As example, my maternal family had distant family member help out in the house. And know we have strong relationships and continued support both emotionally and financially and gateway to other aspects for a smoother life.
That’s nice but kinda pollyanaish and not a model of how economies should work. In fact the gross inequity between the wealthiest sliver of human beings against the majority is outrageous and immoral.