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The tax burden on the world’s ‘super rich’ will increase! Big revelation in the survey

Sagar Patel

By Sagar Patel

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There is a strong debate about taxing the world’s super-rich.

For many years there has been a demand to impose higher taxes on the world’s rich. Which is also being rapidly considered. The group of 20 countries in the world, also called Group-20, could also consider imposing taxes on these rich people next month. This means that taxes on the world’s super-rich are likely to increase. On the other hand, a survey has worried the world’s super-rich. In which more than 68 percent of people in G20 countries have supported taxing the rich. The special thing is that 72 percent of the Indian people voted here. Let’s try to understand what kind of things have come to light in this survey.

What survey is it?

The survey by Earth4All Initiative and Global Commons Alliance took the opinions of 22,000 people from the world’s largest economies. The survey has revealed that 68 percent of the inhabitants of these countries are in favor of imposing such a tax on the rich. In India this figure is even higher, that is, 74 percent. These people believe that such a tax should be imposed to address global hunger, inequality and the climate crisis.

The decision will be made at the G20 meeting in July

The proposal to tax the super-rich has been under discussion since 2013 and international support for the issue has been growing in recent years. Brazil, current president of the G-20, aspires to achieve consensus on taxation of the rich. There is a possibility of emphasizing a joint announcement in this regard at the G-20 Finance Ministers meeting in July.

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two percent annual tax

French economist Gabriel Zucman will present a report Tuesday on how a global minimum tax on the ultra-rich would work and how much it could be raised. Zucman is the brain behind this tax proposal in Brazil’s G-20. Zuckman says the very rich pay much less than the average person. The objective of the proposal is to establish a new international standard. Under this proposal, the billionaire in each country will have to pay two percent of their wealth as an annual tax.

important point of the survey

According to the survey, 74 percent of Indians are in favor of this tax. 68 percent of Indians believe the world needs to take drastic measures over the next decade in all sectors of the economy: power generation, transportation, buildings, industry and food. 81 percent of Indians surveyed supported the transition to welfare economies. In such economies, the focus is more on health and the environment than on economic growth.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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