Taxing the Superrich Is More Possible – and More Necessary – Than Ever
Regardless of nationality, the world’s ultra-rich share two striking similarities: the vast majority are men; and they typically pay much less tax, as a share of their income, than their employees and middle-class workers in general. The concentration of wealth is thus a global issue, and it's getting worse.
BERKELEY – A mere 3,000 people have amassed $14.4 trillion in wealth, the equivalent of 13% of the world’s GDP. While the world’s billionaires controlled less than 3% of global GDP in 1993, the growth of their wealth and political influence has since accelerated.