In recent years, the mask problem, the Russian-Ukrainian conflict broke out one after another, and European and American countries have experienced different degrees of inflation. Although led by the United States, they want to bring down inflation by raising interest rates violently. But the effect was not as good as economists predicted, and not only did the recession move faster, but the so-called middle class also suffered a lot. In this situation, there are voices of reflection within Western society.
The combined wealth of these people can be described as rich and invincible
The European Union's Tax Watch recently released a report saying that a 2% tax on European and American billionaires would generate an additional €40 billion in revenue across Europe. Gabriel Zuckerman, a French economist who leads the agency, analyzed that under economic globalization, billionaires have been accustomed to opening shell companies in low-tax countries to avoid paying taxes, and today, billionaires around the world actually bear less than 0.5% of the tax rate, which is an extremely terrible figure. How can the economy not go wrong if they take the most wealth in the world and do not pay the matching taxes.
So the center recommends a "global minimum tax" of 2% on a total of 2,800 billionaires, which is quite low compared to the tax they should pay. Two years ago, the OECD promoted a minimum tax rate regulation, which was prepared to impose a minimum tax of 15% on multinational enterprises, and now the effect of this regulation cannot be said to be better than nothing, but can only be said to be average, because the rich have many ways to evade taxes, such as holding stocks without taxation, doing charity to avoid taxes, and falsely declaring losses can also reduce taxes.
The rich in the United States have a hand in avoiding taxes
In fact, in Western countries, the tax system and related laws are extremely complicated, it seems to stipulate everything, but the richer the person, the easier it is to evade taxes through a series of operations. At the same time, the middle class and the bottom of the class, because they do not have the relevant knowledge and capital, can only follow the economic trend. Relevant data shows that since 2020, the annual household income in the United States has fallen for three consecutive years, and half of Americans actually have less than $500 in savings.
According to the consumption level in the United States, this kind of deposit size, in fact, it is difficult to maintain a person's living expenses for a month, and they can only spend through credit card overdrafts, which is like a vicious circle. Correspondingly, in the first half of this year, the total wealth of the world's 500 richest billionaires increased by $852 billion, and on average, each of these 500 people increased their wealth by about $140 billion a day.
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There is a famous saying in modern economics that all economic problems are distributional problems. The fact that the gap between the rich and the poor in the United States and the West continues to widen in difficult times is the best proof of this. What's even more frightening is that government revenues are also declining. In the United States, for example, from October last year to September this year, the federal government's fiscal revenue fell by 9%, and they also had to print money and borrow, which is a vicious circle at the national level.
In the first two decades of the 21st century, economic globalization flourished, and distribution problems could be masked in growth; But when economic stagnation occurs, the problem of irrational distribution will surface. But for well-known reasons, from the United States to the United Kingdom to the European Union, no country or organization leader dares to raise taxes on the wealthy.
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Previously, British Prime Minister Truss, just described his thoughts and was ousted. Now that EU officials bring up this matter again, it is estimated that there will be no good results, after all, the world order is created by the rich class, and the United States and Israel are not the most typical representatives.