Africa: A Tax On the Super-Rich to Fight Hunger Gains Ground

Caracas — A global agreement could levy a small tax on the world's 3,000 richest people, with fortunes in excess of US$ 1 billion, and use the money to fight world hunger, a study by the Brazilian government and the European Union's

"It is a choice between opacity and transparency. Tax evasion is not a law of nature": Gabriel Zucman. However, the report - and Zucman's presentation - have not addressed the destination of the resources to be raised:"I can't say how the money will be used. The distribution has to be decided by the people with their deliberations and democratic vote," he said.Zucman argued that"billionaires and the companies they own have been the main beneficiaries of globalisation.

Zucman said his proposal"is very simple: that they pay 2 per cent of their wealth or income and thus equalise with other socio-economic groups."The key, Zucman explains, is to define a minimum market value that is difficult for billionaires to manipulate,"and that can now be done with the thousands of tax analysts around the world, as banking secrecy is lifted and with greater coordination between countries.

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