by Martin Armstrong
Armstrong Economics
Finance ministers from France and Brazil are urging the G20 to implement a minimum 2% tax on billionaires in an effort to fight climate change and poverty. Everyone cheers when the suggestion is to tax someone else, but feigns shock when the rules expand and everyone experiences rising taxation. Global collaborative efforts such as war go against the very problems government agencies claim to combatting. They are deliberately increasing the price of living while simultaneously increasing our taxes.
Brazil’s Fernando Haddad and France’s Bruno Le Maire believe that billionaires should see their wealth decline by 2% (at minimum) every year. “In a world where economic activities are increasingly transnational, we have to find new and creative ways to tax these activities [and] thus direct the revenues to common global endeavours such as ending hunger and poverty and fighting climate change,” said Haddad. Le Marie spoke of GLOBAL TAXATION efforts as “a matter of efficiency and a matter of justice.” “Everybody has to pay his fair share of taxation,” he added. Longtime career politician Bernie Sanders of the US is also in full support of the proposal.