The recent proposal by the Brazilian presidency of the G20 to negotiate a global standard of at least 2 per cent tax on the world’s super-rich, comprising approximately 3,000 individuals..(!!…only 3000!! )

Already a decade ago, scandals revealed by whistleblowers, such as the Panama Papers, ‘Luxleaks’ and the Pandora Papers, opened the eyes of citizens around the world and led the Organisation for Economic Co-operation and Development to launch a reform process, which culminated in a ‘two-pillar solution’ on corporate taxation.

             This stipulated that very large multinationals should pay taxes in all the places where they operated (pillar one) 
             and that there should be a minimum, 15 per cent global corporate-tax rate (pillar two).

Unfortunately, decades of privatisation and commercialisation have weakened the capacity of public services and exacerbated inequalities.

              Quality public services are the bedrock of any functioning society and our primary tool for tackling global challenges and 
              driving meaningful change. 

Investing in them can provide society with an effective antidote to the real threats of extremism and populism, safeguarding our future.

Evidently, the current international system is widely perceived as outdated and unfair, encouraging high avoidance and evasion of tax by the powerful. The recent proposal by the Brazilian presidency of the G20 to negotiate a global standard of at least 2 per cent tax on the world’s super-rich, comprising approximately 3,000 individuals, has refocused attention on the issue.

Today’s most significant dilemma for democracy is thus how to raise revenue. The answer is simple: go after the money where it is, in the hands of big multinationals and super-rich individuals who are experts at hiding it to avoid paying their fair share of taxes.

            Tax on billionaires—political vaccine against the far right .... (extremists 🐗)

https://www.socialeurope.eu/tax-on-billionaires-political-vaccine-against-the-far-right