The Global Wealth Tax
Tax wealth exceeding $5 million and allocate at least a third of the revenues to lower-income countries
- Each country should implement a wealth tax, of at least 2% per year for wealth above $5 million, 6% above $100 million, and 10% above $1 billion.
- Half of the revenue from this minimum tax would be pooled and given to the lowest income countries to fund their infrastructure and public services.
- Each country is free to implement an even more progressive tax, for example by taxing wealth from 1 million, or with higher rates to significantly reduce the wealth of the ultra-rich.
- Depending on the country, 72% to 98% of the population supports a global wealth tax (see support by country). In both the U.S. and Europe, the majority of the population wants to allocate at least 30% of the wealth tax revenues to low-income countries.