Alberto Cottica

"The key idea is that instead of public revenue being raised by taxing income from labour or economic activity, we should ensure that public revenue is raised by taxing wealth, financial assets, immovable property, financial transactions, and all the ills of the economy, including from the extractive industry and especially of fossil energy.”

Olivier De Schutter, the Special Rapporteur on Extreme Poverty and Human Rights.

https://www.theguardian.com/environment/2026/mar/03/un-de-schutter-outlines-plan-for-redistributive-global-economy

#degrowth #un #humanrights #economics

Global economy must stop pandering to ‘frivolous desires of ultra-rich’, says UN expert

Olivier De Schutter says new economic agenda needed to tackle crises of rising inequality and ecological collapse

The Guardian
Mar 4 at 1:24pmWeb
Show threadKevinOnEarthMar 5
@alberto_cottica
That has seemed to me for YEARS to be the blatantly obvious tack to follow on taxation.
Western economies now run mostly on non-productive #MoneyShifting industries (everything #finance-related, through #dividends, #insurance, #advertising, #gambling etc.)
Even #CorporateTax is a distortion & should be zero, as it also taxes *production* and thus employment. (But of course, tax the profiteers running the corps.)
But as we all know, none of this will ever happen.