A global wealth tax is the least we can do to curb runaway wealth concentration

The Real News Podcast · Jan 24, 2022 · 26m

The concentration of wealth in the hands of a select few has become a global problem that poses a threat to the basic functioning of our societies. According to a landmark new analysis by the Institute for Policy Studies, Oxfam, the Fight Inequality Alliance, and Patriotic Millionaires, “A wealth tax of 2% on the world’s millionaires, 3% on those with wealth above $50 million and 5% on the world’s billionaires would raise $2.52 trillion dollars annually. This would be enough to lift 2.3 billion people out of poverty, make enough vaccines for the whole world, and deliver universal health care…