All the World Economic Forum’s Davos panels and the combined philanthropy of the world’s more than 2,755 billionaires have failed so far to vaccinate the world’s poor. That’s why a broad, global coalition has formed calling for the world’s governments to tax the rich. “It is time to levy a wealth tax on the world’s multi-millionaires and billionaires,” Chuck Collins of the Institute for Policy Studies and the Fight Inequality Alliance, wrote, introducing their “Taxing Extreme Wealth” report. “This is not to simply raise revenue to vaccinate the world and invest in robust public health systems. But a wealth tax that is intended to save democracy from the extreme concentrations of wealth and power.” A graduated wealth tax on people with $5 million or more would raise $2.5 trillion annually, the report calculates. Those funds could pay to contain this pandemic, invest in public health to prevent the next one, and lift millions out of poverty. Tax the rich.

Source: Global Wealth Inequality Is Deadly | The Smirking Chimp