The Brazilian presidency of the G20 wants to implement an international tax affecting the wealthiest households. Such a tax would bring in nearly $250 billion, according to a report published Tuesday by the NGO Global Citizen.
The wealth of the richest people has collectively increased by $2.7 billion per day since 2020, and they emit on average a million times more carbon dioxide than an average person. French economist Gabriel Zucman defends a 2% annual tax on the wealth of the 3,000 richest people, saying it is "very simple and we see how to do it quickly." The proposal has the support of Brazil's G20 presidency and France, which chairs the IMF and World Bank meetings, says the finance minister of the Brazilian presidency, Fernando Haddad. He called for a new globalization 2.0 at the G 20 meeting, adding that "we are facing a global social and environmental crisis" in the face of a "crisis" of inequality and poverty. The G20 meeting will take place in Hamburg, Germany, from November 18-20.