Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Friday, May 3, 2024

Global Wealth Tax

 This is a good idea: a global tax on the very richest people on the planet. The reason it has to be global is because wealth - especially investment wealth - is highly mobile and there will always be a poor country that will lavish attention on the super-rich to get them to move there.

Enforcement becomes trickier, since the UN generally can't figure out how to open a paper bag with instructions, and you'd worry about pariah states like Russia ignoring international enforcement.

Still.

Imagine what a global wealth tax could do to create a global climate action fund. 

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