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World’s billionaires should pay minimum 2% wealth tax, say G20 ministers
(www.theguardian.com)
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this post was submitted on 25 Apr 2024
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That’s your income not your net worth, 2% of your net worth would be taking the value of all your cash + stocks/investments/businesses + assets like cars/homes/land/collectibles/jewelry/etc and taxing 2% of that value.
Your income shouldn’t be your net worth unless you’re honestly spending every dime of every check
A lot of us are poor enough where we sorta have to just to survive.
I’m in that club. Woohoooo!
Right? Who can afford to own things?
So what about people paying more in taxes than their net worth is?
Not super relevant to the convo, everyone pays taxes based on income, the proposal is to make rich people ALSO pay on net worth, not all people. For most people the effort of doing a net worth assessment isn’t worth the tax income
Yeah I know, IMO hoarding wealth is just bad for the system we agree on (using paper slips and numbers in computers to exchange goods and services). It just gives power to the few, without the possibility to overturn them as we might in an election.