Currently, the wealthy tax rate is just 0.3 percent of assets. Washington is interested in a progressive tax approach.
Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us atAustralian CEO of the SDG Advocacy Hub, Paul Newnham, showed an empty plate with a message to G20 member countries to help fight global hunger. He made the statement while participating in a demonstration in Rio de Janeiro on Thursday, July 25, 2024.
Under the presidency of Brazil, President Lula da Silva pushed for a global agreement on the need to tax the world's super-rich individuals. In Lula's view, some people who fall into the super-rich category are deemed to control more resources than the entire population of their respective countries.
"At the top of the pyramid, the tax system stops being progressive and becomes regressive. The super-rich pay much less tax proportionally than the working class," said Lula.
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