Economy & Equity

https://oi-files-d8-prod.s3.eu-west-2.amazonaws.com/s3fs-public/2023-01/Survival%20of%20the%20richest-Full%20Report.pdf

https://oi-files-d8-prod.s3.eu-west-2.amazonaws.com/s3fs-public/2023-01/Survival%20of%20the%20richest-summary.pdf

Time to tax the rich
Greater taxation of rich people is not the only answer to the inequality crisis, but it is a fundamental part of it.
It is time for governments to shake off decades of failed ideology and rich elite influence, and to do the right
thing: tax the rich.
The revenues raised from this new wave of progressive taxes could then be used to build a fairer, more equal
and sustainable future for us all.
Governments must use the tax tools at their disposal to turn back this tide of inequality, following these four
steps to a more equal world:
1. Introduce one-off solidarity wealth taxes and corporate windfall taxes as well as much higher taxes on
dividend payouts to stop crisis profiteering.
2. Permanently increase taxes on the richest 1%, for example to a minimum of 60% of their income from both
labour and capital, with higher rates for multi-millionaires and billionaires.
3. Tax the wealth of the super-rich at rates high enough to systematically reduce extreme wealth and lower
power concentration and inequality.
4. Use the revenues from these taxes to increase government spending on inequality-busting sectors, such as
healthcare, education and food security, and to fund the just transition to a low-carbon world.