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July 6, 2012

U.N. Calls for Tax on Wealthy to Aid World’s Poor 
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The United Nations is calling for a number of new taxes in a bid to help
aid the world's poor. In a new report, the World Economic and Social
Survey calls for proposals including taxes on carbon emissions,
financial transactions, and on the world's billionaires. Robert Vos of
the U.N. Department of Economic and Social Affairs unveiled the report.

Robert Vos: "If you tax, for instance, 1 percent of the wealth held by
billionaires, so meaning everybody holding more than $1 billion dollars
in wealth, that would not really affect them in terms of their incomes.
The revenue, the income flows that they already have on their wealth
holding, would by far outstrip that tax that you would take away from
them. So, in that sense it would be another tax that which also make
sense from any economic theoretical argument."

 

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