As G20 finance ministers consider a potential wealth tax on the super-rich, a significant majority, including 74 percent in India, supports the proposal, signalling hope for a fairer and more sustainable future
As G20 finance ministers prepare to discuss a potential wealth tax on the super-rich next month, a survey has shown an encouraging trend. A substantial 68 percent of people in these countries, with an impressive 74 percent in India, support this proposal. This unified stance has the potential to tackle critical global issues such as hunger, inequality, and the climate crisis, providing a ray of hope for a fairer and more sustainable future.
Renowned French economist Gabriel Zucman, a pivotal figure in Brazil’s G20 proposal for progressive international taxation, is set to unveil a report on Tuesday. The report will lay out a comprehensive plan on how a 'global minimum tax on the ultra-rich' could be executed and the substantial revenue it could generate. His expertise and influence lend significant weight to this proposal.
According to Zucman, the ultra-wealthy pay significantly less in taxes than regular citizens. The proposal aims to establish a new global standard: billionaires in every country would be required to pay at least 2 percent of their wealth in taxes annually.
The fact that 74 percent of Indians support taxing wealth, high incomes, and corporations to finance climate initiatives and the 'polluter pays' approach with income redistribution further emphasises this positive trend.
Seventy-one percent of Indians favour universal basic income, 74 percent support policies that promote healthy diets to reduce emissions, and 76 percent seek a better work-life balance.