A new analysis released Tuesday estimates that an annual wealth tax targeting the world’s millionaires and billionaires would raise enough revenue to lift 2.3 billion people out of poverty, provide universal healthcare to the people of low- and middle-income nations, and produce enough coronavirus vaccines to meet global demand.
The study was carried out by the Fight Inequality Alliance, the Institute for Policy Studies (IPS), Oxfam, and Patriotic Millionaires, advocacy groups that have long warned about and cataloged the corrosive impacts of wealth inequality—which has only gotten worse during the ongoing Covid-19 crisis.
“The insane reality is that whilst billions face a daily struggle to survive during this pandemic, billionaire wealth is spiraling out of control,” Jenny Ricks, global convenor of the Fight Inequality Alliance, said in a statement. “This cannot be right.”
— source commondreams.org | Jake Johnson | Jan 18, 2022