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Joined 1 year ago
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Cake day: August 12th, 2023

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  • Some quotes I found interesting

    Billionaires’ effective tax rate is currently equivalent to 0.3% of their wealth, requiring them to pay a far lower rate than middle-class taxpayers.

    Along with Milei, the Biden administration pushed back this year as the G20 weighed Zucman’s tax proposal. Treasury Secretary Janet Yellen told The Wall Street Journal in May that the “notion of some common global arrangement for taxing billionaires with proceeds redistributed in some way—we’re not supportive of a process to try to achieve that. That’s something we can’t sign on to.”

    As Common Dreams reported Tuesday, the U.S. is one of eight countries that are contributing to an international loss of $492 billion in taxes each year as multinational corporations and ultrawealthy individuals underpay. The eight countries—which also include Australia, Canada, Israel, Japan, New Zealand, South Korea, and the U.K.—oppose a United Nations tax convention.