Global Support for Wealth Tax to Address Inequality and Climate Crisis

As G20 finance ministers consider a wealth tax on the super-rich, a survey shows 68% global support, including 74% in India. The initiative, led by Earth4All and Global Commons Alliance, aims to address global hunger, inequality, and climate crisis. Brazil pushes for consensus, with key support from economist Gabriel Zucman.

In a significant move, G20 finance ministers are set to deliberate on implementing a wealth tax targeting the super-rich. A recent survey indicates that 68% of people worldwide, including 74% in India, back this measure to tackle global hunger, inequality, and the climate crisis.

The survey, conducted by Earth4All and Global Commons Alliance, involved 22,000 citizens from the world's largest economies. The proposal for a wealth tax has been gaining traction since 2013, with Brazil, the current G20 president, spearheading efforts to reach a consensus.

Prominent French economist Gabriel Zucman, a pivotal advocate for progressive international taxation, is set to release a comprehensive report outlining the framework for a global minimum tax on the ultra-rich. This proposal aims to ensure billionaires contribute at least 2% of their wealth annually as tax.

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