Senator Elizabeth Warren faced backlash on X after calling for a wealth tax on Elon Musk, who reportedly became the world's first trillionaire following SpaceX's IPO. Critics argued Musk creates wealth and jobs, while others debated the potential use of such taxes for public services.
UK Labour figures Andy Burnham and Wes Streeting are considering a wealth tax on the super-rich, inspired by economist Gabriel Zucman's proposals. The tax aims to address growing inequality, with Zucman advocating a 2% levy on assets over $100 million, even for those who leave the country.
Polling in Makerfield shows 55% of voters would be less likely to support a candidate with offensive social media posts. Other key findings include strong support for water renationalisation, a wealth tax, and paid bereavement leave.
A World Inequality Lab report proposes a "plan for equality and prosperity within planetary boundaries," including wealth taxes, reduced working hours, and diet changes to double incomes for 89% of the world population by 2100 and limit global heating to 2C.
DIW President Marcel Fratzscher urges Germany to introduce a wealth tax to finance planned income tax reforms. He estimates a 2% wealth tax on large fortunes could generate €42 billion, allowing for tax cuts on labor and corporate income, boosting the economy.
Hungary's new government, led by Péter Magyar, plans to introduce a wealth tax on the country's richest individuals. This move aims to address wealth inequality and fund public services, targeting oligarchs who benefited from the previous Orbán era.
Andy Burnham's potential victory in the Makerfield byelection could usher in significant political reform, including proportional representation and stricter campaign finance laws. The article argues this is crucial to counter the influence of figures like Nigel Farage and restore trust in British politics.
Wes Streeting, a former Health Secretary, has proposed a "wealth tax that works" by equalising Capital Gains Tax (CGT) with income tax rates (20%, 40%, 45%). He estimates this could raise £12bn annually and aims to encourage investment while closing loopholes. Tax experts have offered mixed reactions, with some calling it a necessary reform and others noting it's not a new idea and the "devil is in the detail."
Wes Streeting, a Labour MP, has proposed equalizing tax on assets and income, arguing the current system unfairly penalizes work and widens the wealth gap. His plan could raise up to £12bn annually by mirroring income tax rates for capital gains, with allowances for entrepreneurs.
A Centre for London report proposes replacing stamp duty and council tax with an annual property wealth tax to address London's housing crisis. The tax would encourage downsizing, fund social housing, and help renters save for deposits.
Stripe co-founder Saikat Chakrabarti is running for Nancy Pelosi's San Francisco congressional seat, aiming for a "full-scale revolution" within the Democratic party. He advocates for ending US military aid to Israel, a wealth tax, and free healthcare, challenging establishment figures.
Ken Griffin said Mamdani's video, filmed outside his apartment, raised safety concerns.
Green party leader also accuses rightwing media of politically motivated attacks as popularity growsZack Polanski has said he was wrong to describe himself as a British Red Cross spokesperson, and that intensified media scrutiny of the Green party reflected fears of its rising popularity and support for wealth taxes.Polanski described himself as a British Red Cross spokesperson while campaigning for the party leadership, the Times revealed. The claim was also mentioned on his personal website in 2020 when he said he was “really proud of the work we do”. Continue reading...
Kevin O'Leary has strongly criticized California's proposed wealth tax, deeming it 'un-American' and 'unconstitutional.' He predicts years of litigation due to the difficulty of valuing illiquid assets and argues the tax will accelerate the exodus of businesses and billionaires from the state.
