Nearly 400 millionaires and billionaires worldwide—including Australians Dick Smith, Graham Marr, and Richard Barnes—have signed an open letter urging governments to tax extreme wealth more heavily. Ahead of Davos, they argue that concentrated wealth undermines democracy, deepens inequality, and worsens the climate crisis.
In Australia, the 48 billionaires hold more wealth than the bottom 40% (~11 million people). Proposals include a 5% wealth tax (potentially raising $17 billion/year for childcare, housing, and healthcare), higher taxes on the top 1%, tighter capital gains rules, and an inheritance tax.
Treasurer Jim Chalmers is open to capital gains adjustments but has ruled out inheritance tax for now. These voices from the ultra-wealthy strengthen the case for mandatory, systemic progressive reform to ensure fair contribution and fund essential public goods.
#WealthTax #TaxTheRich #Inequality #ProgressiveTax #Davos2026 #EconomicJustice
#ProgressiveTax
California, a state with the most billionaires run by deficit hawks and other such geniuses of unparalleled fiscal prowess. A proposed tax bill opposed by its own state governor has already wiped out a hefty chunk of its tax revenue.
https://reason.com/2026/01/21/californias-billionaire-tax-could-bite-harder-than-advertised/
#California #fiscalPolicy #incomeTax #progressiveTax #unintendedConsequences #wealthTax
South Korea's Blue House is considering raising progressive tax rates on high-value single-home owners, while maintaining land transaction permit zones and planning new nuclear plants to support semiconductor power needs.
#YonhapInfomax #ProgressiveTax #SingleHomeOwners #BlueHouse #NuclearPower #RealEstatePolicy #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=100169
What if we taxed what people spend, not what they earn?
#Business #Economy #Taxation #IncomeTax #TaxReform #ProgressiveTax #ConsumptionTax #Economics #Saving #FinancialSecurity #WealthDistribution #FiscalPolicy #EconomicGrowth #IncomeInequality #The14
https://the-14.com/what-if-we-taxed-what-people-spend-not-what-they-earn/
Governments should tax based on assets instead of income!
#tax #assettax #incometax #taxpolicy #economics #taxsystem #landvaluetax #zakat #progressivetax
"Taxman" is a song by the English rock band #theBeatles from their 1966 album #Revolver. Written by the group's lead guitarist, #GeorgeHarrison, with some lyrical assistance from #JohnLennon, it protests against the higher level of #progressiveTax imposed in the United Kingdom by the #Labour government of #HaroldWilson, which saw the Beatles paying over 90 per cent of their earnings to the #Treasury. The song was selected as the album's opening track.
https://www.youtube.com/watch?v=Oyu5sFzWLk8
"Sunny Afternoon" is a song by #theKinks, written by #RayDavies and released as a single in June 1966. The track was included on the #FaceToFace album released in late October, and served as the title track for a 1967 compilation album. Like its contemporary "#Taxman" by #theBeatles, the song references the high levels of #progressiveTax taken by the British #Labour government of #HaroldWilson.
https://www.youtube.com/watch?v=tw555YwHE48
Now that they have amassed sufficient wealth, they have started to use it for regulatory capture. Lobbying, an end to progressive taxation, trickle-down economics, Ciziens United, and now their own pet fascist president. They are reasserting their *political* dominance of old, using fascist methodology.
#fascism
#RegulatoryCapture
#lobbying
#CitizensUnited
#ProgressiveTax
#feudalism
#neofeudalism
"Sunny Afternoon" is a song by #theKinks, written by #RayDavies and released as a single in June 1966. The track was included on the #FaceToFace album released in late October, and served as the title track for a 1967 compilation album. Like its contemporary "#Taxman" by #theBeatles, the song references the high levels of #progressiveTax taken by the British #Labour government of #HaroldWilson.
https://www.youtube.com/watch?v=tw555YwHE48
Here’s what you get when you replace a #ProgressiveTax with a #FlatRate tax: https://apnews.com/article/arizona-legislature-hobbs-school-vouchers-tax-cut-0bbf267957942c887335ab63d9104a89
The carbon tax needs fixing, not axing — Canada needs a progressive carbon tax
#Canada #ClimateChange #CarbonTax #GlobalWarming #ProgressiveTax #EnvironmentalJustice #Sustainability #ClimateAction #GreenPolicy #Inequality #EmissionsReduction
https://the-14.com/the-carbon-tax-needs-fixing-not-axing-canada-needs-a-progressive-carbon-tax/
Bit of UBI goodness. The only reason it's not implemented is because if people weren't stuck in underpaid jobs where corporations don't pay a living wage and welfare is used then they might ask questions.
And last time _that_ happened was the summer of 2020 which is why they've been desperate to "return to normal".
#UBI #CorporateGreed #CorporateWelfare #TaxReform #Welfare #ProgressiveTax #BLM
Thanks to @scottsantens for the meme and @KimSJ for the alt text. Boost away!
Overhaul the tax system so we are billed every year based on our total net worth. Bring back a #progressivetax rate up to 100% for incomes above one million dollars.
https://youtu.be/9yU_bVZqqYk?si=UQIQUTLpcmpJBtoq
