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wealth taxABC
•86% Informative
Report says global tax revenues would be up to $US250 billion ( $380 billion ) higher.
The tax rate of billionaires would become no lower than that of middle-class workers.
The proposal is not a wealth tax but would function as a top-up mechanism.
It would only have to be paid by billionaires who do not already pay the equivalent of 2 per cent of their wealth in income tax.
A 2 per cent minimum tax on global billionaires would generate an estimated $US200-$US250 billion in tax revenue annually , according to the report.
The report says the minimum tax should not be seen as a wealth tax, but as a tool to strengthen income tax systems.
Professor Zucman says the world is in a better position to successfully implement such a proposal than it was in the past.
Billionaires shield "virtually all" of their income from income tax, report says.
Less wealthy individuals can also invest in non-dividend-paying companies and avoid realising capital gains.
Second method involves billionaires using personal wealth-holding companies and similar legal structures to avoid paying tax.
VR Score
92
Informative language
94
Neutral language
52
Article tone
informal
Language
English
Language complexity
55
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
5
Source diversity
2
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