The issue of fair taxation for the ultra-rich is becoming increasingly urgent. Many believe that globalization and lobbying by the ultra-rich have led to a situation where billionaires pay virtually no tax, widening inequalities and fueling resentment towards the ruling classes. Reports from the EU Tax Observatory and Capgemini show that the ultra-rich are taxed less than the middle classes, with their wealth growing at a much faster rate. This situation is exacerbated by tax competition between countries, which has led to the proliferation of highly favorable tax regimes for high-income individuals.
Proposed Solutions
Calls for fairer taxation of the ultra-rich are growing, with proposals like a global minimum tax of 2% on the wealth of billionaires gaining traction. Brazil, France, South Africa, Spain, and Belgium are among the countries supporting this measure. While challenges exist in implementing such a tax, the potential benefits in terms of revenue generation are significant.
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