A proposal to tax the rich is gaining traction. But is it feasible?
Over the last decade, calls to tax the rich have grown louder around the world — but the needle hasn't exactly moved.
Now, the Brazilian government has a new proposal: a 2 percent global wealth tax on the uber-rich. It would impact the 3,000 wealthiest people around the world.
Economists say this 2 percent hike would unlock an extra $250 billion per year. That money could go toward addressing a number of issues, like climate change and global poverty.
G20 nations would have to agree on this proposal before it goes anywhere — and so far, that's not happening. France, Spain, South Africa and several other nations have voiced support, but the U.S. and Germany aren't on board.
Is a global wealth tax a feasible solution?
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Now, the Brazilian government has a new proposal: a 2 percent global wealth tax on the uber-rich. It would impact the 3,000 wealthiest people around the world.
Economists say this 2 percent hike would unlock an extra $250 billion per year. That money could go toward addressing a number of issues, like climate change and global poverty.
G20 nations would have to agree on this proposal before it goes anywhere — and so far, that's not happening. France, Spain, South Africa and several other nations have voiced support, but the U.S. and Germany aren't on board.
Is a global wealth tax a feasible solution?
For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org.
Email us at considerthis@npr.org.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
