A proposal to tax the rich is gaining traction. But is it feasible?

Consider This from NPR

Over the last decade, calls to tax the rich have grown louder around the world — but the needle hasn't exactly moved.
Now, the Brazilian government has a new proposal: a 2 percent global wealth tax on the uber-rich. It would impact the 3,000 wealthiest people around the world.
Economists say this 2 percent hike would unlock an extra $250 billion per year. That money could go toward addressing a number of issues, like climate change and global poverty.
G20 nations would have to agree on this proposal before it goes anywhere — and so far, that's not happening. France, Spain, South Africa and several other nations have voiced support, but the U.S. and Germany aren't on board.
Is a global wealth tax a feasible solution?
For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org.
Email us at [e-mail].
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy