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RE: mastodon.green/@alberto_cottic…
Very interesting insight from Gabriel Zucman: there is now an international movement for taxing wealth, and important initiatives are afoot. The most important of all is prop 40, California's proposed one-time five per cent tax wealth. It is projected to yield 100 billion dollars! That's as much as one year of income produced in California.
I knew the various law proposals etc., but I was not seeing the big picture.
Alberto Cottica (@alberto_cottica@mastodon.green)
"And so here, what you have with billionaire wealth is that there’s a potential tax base; we are not taxing billionaire wealth today, which has been skyrocketing. That’s the flip side of the rise of wealth concentration.Alberto Cottica (Mastodon.green)
"We can afford it. We're not talking about higher taxes on those who get up and go to work for their income every day, but on the very richest whose income is derived from the wealth they hold."
#UKPol #WealthTax #PatrioticMillionaires
bbc.co.uk/news/articles/cvgjp7…
Gary Lineker among millionaires asking Andy Burnham to tax them more
A group including the former England footballer write to the new PM telling him "we can afford it".Faarea Masud (BBC News)
