The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
August 20, 2024

Modest Tax on World's Wealthiest Would Generate $2 Trillion to Help Poor Nations Face Climate Crisis
----------------------------------------------------------------------------------------------------

The advocacy group Tax Justice Network said that even a modest wealth
tax on the world's richest could easily raise $2 trillion each year,
more than enough to help poorer nations become climate-resilient and
transition to clean energy. The group cited Spain's "solidarity
surcharge," implemented less than two years ago, which raised hundreds
of millions of euros last year simply by imposing a small, progressive
tax on the net worth of the 0.5% richest households. The Tax Justice
Network released its proposal for a global tax on the ultra-rich ahead
of November's U.N. Climate Change Conference.


.