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global wealthBenzinga
•72% Informative
A mere 3,000 people now boast of $14.4 trillion of wealth, which equates to 13% of the world’s GDP.
Gabriel Zucman , Professor of Economics at the Paris School of Economics and the University of California , said the concentration of wealth has become a “global” and “alarming” issue.
He said without sufficient tax revenues, governments would be handicapped to guarantee adequate services such as education, health care, and social protection.
Economist says billionaires like Jeff Bezos and Elon Musk pay the least taxes relative to the amount of money they make because they live off their wealth.
Zucman said in a New York Times op-ed earlier this year said billionaires like Amazon ’s Jeff Bezos .
Bezos would have to foot a hefty tax bill.
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