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Brazil's Radical Plan To Tax Global Super-Rich To Tackle Climate Crisis

An anonymous reader quotes a report from The Guardian: Proposals to slap a wealth tax on the world's super-rich could yield $250 billion a year to tackle the climate crisis and address poverty and inequality, but would affect only a small number of billionaire families, Brazil's climate chief has sa...

Ministers from the G20 group of the world's biggest developed and emerging economies are meeting in Rio de Janeiro this weekend, where Brazil's proposal for a 2% wealth tax on those with assets worth more than $1 billion is near the top of the agenda. Many governments are privately skeptical but unwilling to publicly criticize a plan that would shave a tiny amount from the rapidly accumulating wealth of the planet's richest few, and raise money to address the pressing global climate emergency. Some economists have argued that the idea was more likely to be accepted if the proceeds were devoted to solving the climate crisis than if they were used to address global inequality.

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