cross-posted from: https://lemmy.ca/post/7812500
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.
That’s really easy to avoid. Make the tax start at 100 million or something and you won’t hit a single middle to upper class home owner.
You’ll suddenly find a lot of people with 99 million in assets and a cousin in the Cayman Islands that owns a few yachts and jets.
When they pass all those millions to a cousin, they can be taxed.