Global Tax on Wealth (Piketty)
Marl van der Toorn, Manager, Netherlands, Moderator
Globalization has many economical and even social benefits, but also has its downsides. Like exploitation of labour, making the rich richer and multinational corporations increasingly influencing political decisions.
According to French Professor at the Paris School of Economics Thomas Piketty in his recent best selling book , globalization also plays an important role in the long-run dynamics of income and wealth distribution, among many other forces.
To counter the increasing inequality in (pre-tax) income and capital, Piketty suggests a global taxation on wealth (capital) with a progressive tax rate. Such tax should become based on reliable global wealth statistics.
To accomplish the above he stresses the need for more global financial transparency by:
- International transmission of bank information
- Global registry of financial assets
- Global coordination on wealth taxation
Do you think Piketty's global capital taxation method might work? Why (not)? (...) Read more? Sign up for free
Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.
Sign up for free Log in