Tax the Rich: World Economic Forum Hears Call for Global Wealth Redistribution by Simon Kent for Breitbart
The direct imposition of permanent annual taxes on the earnings of the world’s richest individuals could redistribute wealth and lift millions out of poverty, a report presented to the World Economic Forum (WEF) on Wednesday outlined.
Under the globalist proposal, supranational taxation would start at a rate of two percent on wealth over $5 million and progress to five percent on wealth over $1 billion, generating $2.52 trillion. This would be in addition to – and on top of – whatever taxes are imposed at source by individual national authorities.
That is claimed to be enough to cover the cost of two inoculations and a booster for the world’s estimated eight billion people several times over, according to analysis on 66 countries by Fight Inequality Alliance, Institute for Policy Studies, Oxfam and Patriotic Millionaires.
The group says unless heads of state and government and CEOs acknowledge the “simple, effective solution staring them in the face —taxing the rich,” people around the world “will continue to see their so-called dedication to fixing the world’s problems as little more than a performance.”
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“The insane reality is that whilst billions face a daily struggle to survive during this pandemic, billionaire wealth is spiraling out of control. This cannot be right,” Jenny Ricks, global convenor of the Fight Inequality Alliance, said in a statement seen by AFP.
The tax proposal was made to coincide with a meeting of the WEF which is taking place online for the second straight year as its Davos gathering was postponed due to the spread of the Omicron variant.