The Tax Justice Network said trillions could be raised with a ‘featherlight’ tax on the 0.5% of richest households, copying a current Spanish tax

The Tax Justice Network said trillions could be raised with a ‘featherlight’ tax on the 0.5% of richest households, copying a current Spanish tax

Governments around the world copying Spain’s wealth tax on the super-rich could raise more than $2tn (£1.5tn), according to campaigners calling for the money to help finance the climate transition.

As a growing numbers of countries consider raising taxes on the ultra-wealthy, the Tax Justice Network campaign group said in a report that evidence from a “featherlight” tax on the 0.5% richest households in Spain could help raise trillions of dollars globally each year.

The Spanish government, under the socialist prime minister, Pedro Sánchez, introduced a temporary “solidarity” wealth tax in late 2022, which is collected in 2023 and 2024, on the net wealth of individuals exceeding €3m (£2.6m). It is estimated to apply to the richest 0.5% of households.

  • @brbpostingEnglish
    3•29 days ago

    Thanks for fighting for accuracy, desperately needed in the modern era.

    Can you make a change today so that The Guardian & Breitbart would never appear to be similarly [un]credible at first glance?

    If not, a small pause could make sense. Better than damaging credibility not much of established news agencies perhaps but certainly the bot, limiting its impact in the future even if the problem’s corrected (think insta-downvotes from older users once burned by it). Folks respect pauses for refactoring!

    Maybe MBFC isn’t tops and there’s some attractive alternative btw!

    PS: thanks @[email protected] for the alarm