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Worldwide billionaire tax would raise $250 billion | DW Business

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Economists say a global 2% tax on billionaire wealth could raise $250 billion per year. A report by the EU Tax Observatory claims the world’s richest people are paying an effective tax on their fortunes of 0.5% or less. The research group says a global minimum level of 2% in combination with a strengthened minimum corporation tax would raise enough money annually to help developing countries cope with the impact of climate change. Speaking to DW Business, Gabriel Zucman from the EU Tax Observatory explains how a wealth tax would work and whether it could ever actually happen.

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