Posted on 10/24/2023 7:54:25 AM PDT by Navy Patriot
A global minimum tax on billionaires equal to 2% of their wealth could raise close to $250 billion (around €235.6 billion), the EU Tax Observatory estimated in a report released on Monday.
The measure would affect fewer than 3,000 individuals, but the group says the revenue could help governments to invest in key areas such as health care, education, and climate policies.
According to the Observatory’s calculations, billionaires' personal tax in the United States amounts to about 0.5% of their wealth.
(Excerpt) Read more at euronews.com ...
What Europe needs to do is to get the shackles of high taxation off their people so the economy can unleash itself, lifting all boats.
Don't think the Euroweenies will do that, they love Socialism too much.
When Uncle Sam subsidizes your security, you can have all the socialism you want.
Due to reduced revenue receipts, the billionaires tax will require those earning $50K or more in USD, will have to become included. Thank you for your inclusive Cooperation.
Uncle Sam love$ his Foreign Nazis more than he loves his Legacy Citizens.
You got that right.
most billionaires net worth is in stocks, to pay this tax they would have to sell large portions of their stock collapsing stock markets around the world and throwing the world into a depression.
nothing could be further from the truth, nearly all billionaires earned it themselves.
you missed the “global” part of that
Musk is working on Starship , maybe they’ll go to the Moon ,LOL
Wealth redistribution. Typical commie crap. The poor eats this crap up whole, and it makes them feel good, but it does nothing to extract them from their poverty.
It does, however, keep the commies in power.
Yep.
That has been done in The Netherlands. A friend of mine’s father was a retired machinist there. He had to pay a wealth tax based on his total assets. Year after year, he had to sell off assets to pay the tax. In the end, he owned nothing.
But his tax bill was zero.
i told them to go screw themselves
“Income tax is not wealth tax.”
I know, and did not say it was.
Those who are so JEALOUS of success couldn’t run a porty potty “HONEY TRUCK” business.
Just looking at what the money would be invested in is a joke. Health care? What, some more untested vaccines? Education? Doesn’t this mean indoctrination? Climate policies? Yeah, right. EU wants not only to steal the money, but they intend to waste it, too.
Yup. They intend to make their family and friends rich as well
Anyone netting $100,000 per year, investing it wisely at 10% per year average, would be a millionaire in 24 years, a billionaire in 97 years, a trillionaire in 169 years, and a quadrillionaire in 241 years. That works for AI persons as well.
Alfred Nobel, setting up his peace prize, would have been better off setting up an AI replication of himself. Like all untethered organizations, the Nobel Committee has morphed into a leftist insane asylum. Alfred must be spinning in his grave.
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