Wealth tax: Why are countries afraid to tax the ultrarich?
Key takeaways
- Growing income inequality and public displays of billionaire power are increasing calls for new income and wealth taxes aimed at the world's richest individuals.
- There's also the option for an annual or one-off wealth tax on everything someone has above a certain mark.
- A few governments want to tax extreme wealth to lower taxes on a stagnating middle class or to make up for social inequality.
Why this matters: an international story with cross-border implications worth tracking.
Growing income inequality and public displays of billionaire power are increasing calls for new income and wealth taxes aimed at the world's richest individuals. Can wealth ever be taxed fairly?
https://p.dw.com/p/590wo Some countries are looking at wealth taxes to raise revenue from the superrich to help fill budgets or compensate for growing social inequality Image: Jens Kalaene/dpa/picture alliance Advertisement Not many people enjoy paying taxes. But many voters don't see a problem taxing the superrich and making them pay their "fair share."
One way is to increase income taxes. There's also the option for an annual or one-off wealth tax on everything someone has above a certain mark.