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.” Mail.
Blogger: I hold no brief for the wealthy but am all too aware that messing around, taxing the rich, can seriously damage economies. By and large, all marxist plans to redistribute wealth have failed miserably. Is this different enough to actually work?
The mega rich - the billionaires - are perhaps a different kind of fish to target, however. Provided it not be done through socialist eyes and that it concentrates in creating wealth-building economies in Third World nations - it could feasibly work. Billionaires have far too much unelected power.
It must not pivot on donations to poorer countries - or worse - giving monies to the venal rulers of so many destitute countries, simply to be plundered, is hardly an intelligent thought process.
Safeguards to stop monies being turned into armaments must be in place.
Do you know? - The more I wrote, the less confidence I felt that this idea might work - indeed, it may even be dangerous.
I so want to be wrong!
