Global Tax on Wealth (Piketty)
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 Capital in the Twenty-First Century, 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)?
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Martin Lekoski, Slovakia
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Taxation of the Wealthy
I believe I read somewhere that the more you earn in Japan, the more you are expected to pay for mor... Sign up
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Jorge Garrido, Mexico
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No Global Taxation on Wealth
The problem is the way Governments spend the taxes they collect; much of this money is spent on main... Sign up
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Steven Cooke, Philippines
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No CAPITAL Taxation!
Taxes and government 'control' in general only promote corruption. Government's only legitimate role... Sign up
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