Title: G20 millionaires united for increased taxation
Introduction :
The G20 summit, bringing together the leaders of the twenty largest economies in the world, was recently the scene of an unprecedented appeal: this time, it is the millionaires themselves who are asking to be taxed more. In full swing, this movement, supported by economists and former leaders, marks a turning point in mentalities and could well open the way to significant tax changes. In this article, we will explore this new trend and its potential impact on society.
1. The evolution of mentalities:
There was a time when discussing taxation of the ultra-rich was a taboo, even unthinkable, subject. But things have changed. More than 300 millionaires from more than 40 countries have signed an appeal to G20 leaders calling for higher taxes on the wealthiest individuals. Among these signatories are 65 economists, including a Nobel Prize winner, as well as 18 former heads of state and two former vice-presidents of the World Bank. This massive support indicates that the idea of taxing millionaires more is gaining legitimacy and social acceptance.
2. Current issues:
The signatories of the appeal underline that the world is currently going through a crisis similar to that of the post-war period, where the richest were put to contribution. The increase in extreme poverty and the growing gap between wages and inflation justify, according to them, a more equitable redistribution of wealth. Additionally, green investments have become urgent to achieve the goals of the Paris climate agreement. Countries need financial resources to finance this transition to a more sustainable economy. Millionaires are therefore called upon to contribute more to meet these global challenges.
3. Historical examples and their impact:
It is important to emphasize that the idea of taxing the richest more is not new. In the past, during exceptional periods such as world wars, tax measures have been taken to finance war efforts and reduce inequalities. For example, in the United States, under the administration of Franklin D. Roosevelt, marginal tax rates reached up to 94% for top incomes. This high taxation helped to reduce wage inequalities during the period 1930-1980. It is therefore possible to use historical precedents to justify increased taxation of millionaires.
Conclusion :
The movement of millionaires demanding increased taxation is gaining momentum and is part of a change in mentalities. Call launched at the G20 summit by economists, former leaders and millionaires themselves highlights the urgency of redirecting financial resources towards fairer and more sustainable objectives. However, debates and negotiations will be necessary to put in place effective tax policies that take into account current global issues. It is therefore important to follow the evolution of this movement and its possible repercussions on society in the years to come.