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Brazil, France, Spain, Germany and S. Africa Push To Tax Billionaires 2% Yearly; US Says No
(www.ibtimes.co.uk)
this post was submitted on 22 May 2024
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2-6% is a joke when the rest of the population is paying >25% up to 50% or more in some places.
in brazil we are paying 100% in some cases. not income, of course, but some goods are twice as expensive for us to obtain as they should because of crazy taxation.
meanwhile our rich pay among the lowest taxes in the world (they pay zero tax in some investments). shit even when tax is due, some of our richest won't pay it and get away with it. (thanks, neymar!)
this shit is egregious and has to end.
If you would have read the article, you would have noticed it's a wealth tax, not an income or gains tax.
What does that matter? 2% of a billion is 20 million. Do you seriously think their wealth doesn't grow by at least 20 million a year? Do you think their wealth doesn't grow by more than 2% every year? It should not be growing, it should be diminishing!
I'll repeat myself: 2-6% is a fucking joke.
To be fair though, it's not nothing (unlike the USA). They have to start somewhere, I'll give 'em that.