Last week, Brazil presented a plan to the G20 to impose a global tax on billionaires.
Currently holding the G20 presidency and gearing up for a big leaders’ summit in Rio de Janeiro in November, Brazil’s progressive government under President Lula da Silva contracted French economist Gabriel Zucman (a frequent collaborator with Thomas Piketty) to report on how such a global tax on the ultra-wealthy could be implemented.
Zucman found that if the world’s 3,000 billionaires paid a minimum tax per year of 2% of their wealth, global tax coffers would increase by up to A$380 billion.
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