Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

PARIS, Oct 23 (Reuters) - Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research group hosted at the Paris School of Economics said.

  • Recant@beehaw.orgEnglish
    52·
    6 months ago

    250 billion for what? Governments are horribly inefficient and many of their employees operate with the thought “not my money not my problem I can just spend it however I want”

    Billionaires getting taxed more only treats a symptom and not the root cause. Their corporations should be broken up, competition should be stimulated, shareholders should demand limits on exec bonuses and the executive pay should be limited to a reasonable ratio of exec to lowest paid employee pay.

    That would make things better and money in the government should be spent more appropriately.