Global Wealth Tax Proposal Submitted to World Economic Forum

[Stone]

Global Wealth Tax Proposal Submitted to World Economic Forum

New American [adapted]| January 21, 2022
   

An alliance of leftist millionaires has submitted a report to the World Economic Forum calling for a global wealth tax.

In a letter promoted by the liberal organizations Patriotic Millionaires, Millionaires for Humanity, and Tax Me Now, 102 millionaires called for “a complete overhaul” of the “international tax system.”

“The bedrock of a strong democracy is a fair tax system,” said the letter, ignoring the inherent dangers of democracy, as contrasted with a republican form of government. It went on to say that, “The world — every country in it — must demand the rich pay their fair share. Tax us, the rich, and tax us now.”

Under the globalist proposal, which the signatories submitted to the World Economic Forum, a progressive tax on millionaires and billionaires would be imposed worldwide, on top of national taxes. It would start at a rate of two percent for individuals worth more than $5 million, three percent for those worth more than $50 million, and five percent for those worth more than $1 billion.

The proposal’s advocates estimate it would raise $2.52 trillion annually. They boast that this revenue is enough to fund two COVID shots and a booster for everybody worldwide, and it could be used to implement universal healthcare and other social programs globally.

Regardless of what its advocates claim, a global tax is not designed — or necessary — to actually help those in need. Rather, it is a necessary step toward creating and sustaining a one-world technocratic government. Furthermore, the Organization for Economic Cooperation and Development (OECD), the United Nations, and other globalist entities have been seeking for years to create a worldwide tax regime.

Furthermore, by having the power to tax individuals’ incomes, such an international regime would have significant power to control the everyday lives of those under its jurisdiction.

Regardless of what comes of this specific proposal, a global tax regime is already starting to be implemented. In October 2021, 136 countries including the United States — led by the OECD — agreed to implement a 15-percent global minimum tax rate. That the United States will join a tax system that restricts its national sovereignty and undermines its economic competitiveness illustrates how its leaders have abandoned any semblance of putting national interests first. [emphasis mine]