Global push for higher taxes on the super-rich

Rightwing government in Italy doubles flat tax on foreign income, joins G20-led push for higher taxes on the super-rich. Global momentum for wealth tax increases with calls from various countries and organizations to target billionaires and centimillionaires for more tax revenue to fund anti-poverty measures and climate-friendly initiatives.

Global Tax on Super-Rich Proposed

A global tax on the super-rich is proposed in a new report commissioned by Brazil for the G20 nations. The tax would require individuals with more than $1 billion in total assets to pay 2% of their wealth in income tax, aiming to raise funds for public services, education, healthcare, and climate change initiatives.

International Taxation of Wealth

German Finance Minister rejects Brazil's proposal to tax the super-rich, indicating challenges in gaining widespread G20 support. Other countries like France show support while some like Japan and Italy resist.

Globalization, Poverty, Climate Change, G20 Meeting

Brazil called for a 'new globalization' to address poverty and climate change at a G20 finance ministers meeting in Sao Paulo, overshadowed by conflicts in Ukraine and Gaza.