Robert ReichBy the way, a tax of up to 5% on the world’s multi-millionaires and billionaires could raise $1.7 trillion/year.
That would be enough to lift 2 billion people out of poverty and fund a global plan to end hunger.
We can't afford NOT to tax the rich.
Mike GaruccioI mean, sure? But that’s a single-digit increase in global tax revenue, and less in global gov spending. Assuming the idea here is those billionaires give money to the governments of the world, why would slightly more cash on hand meaningfully change their goals and priorities? Wouldn’t the more likely outcome be more tanks and fossil fuel subsidies?