💰How rich is too rich? | The Stream

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During the pandemic, billionaires have seen their collective wealth grow by a staggering $5 trillion, according to Forbes Magazine’s latest ranking of the world’s richest people. And as COVID-19 plunged the global economy into its deepest recession since the second world war, Forbes’ annual list grew to 2,755 people – adding 660 more billionaires to its ranks.

Amid a pandemic, the surge in wealth for the world’s richest is renewing a push for increasing their taxes. Proponents of wealth taxes say the measure could alleviate widening economic inequality and fund COVID-19 vaccination efforts needed to get the global economy back on track. Last week, the International Monetary Fund suggested that a temporary tax on the rich could finance and help meet heightened demand for social services.

In this episode of The Stream, we’ll look at the debate over wealth taxes.

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Comments

Al Jazeera English says:

Thanks for watching everyone. Tell us what you think about taxing the super rich in the comments below.

Sushanto Banerji says:

What about Russian and Ukraine deadlock?

Tikyda Couassi-Ble says:

Can people do what they buy from these companies? You vote for the superiority of the service/product with your wallet. Trying to curve/tax these people' wealth beyond what Allah has prescribed seems really wrong in my opinion.

p tan says:

The reason why these billionaires are able to earn billions is due to the confluence of factors such as modernity, globalization, internationalization, standardization, law and order and so forth. Yes, they should be taxed because they have exploited these factors to extract obscene wealth. A mega-wealth generating machinery which were not readily available in the past, which may not be readily available even today to certain groups of people and which today's societies have no precedence in grappling with. My only grip is that the taxed monies should not go to one government or another. Since their wealth extractions are trans-national or trans-boundary in nature, the monies should go to international bodies like the WHO, UN.

Silas Larsen says:

This issue requires a host competent in the matter.

Caring Sharing says:

If we stopped printing cheap fiat money and promoted gold/silver as global currency, the world will be thriving in prosperity. Guaranteed!

Happy Man says:

Money 💰 is the root of all evil things !!!! 🙁

Thomas Donald says:

The rich stay rich by investing and investing without stopping then the poor stay poor by spending like the
Rich but yet not investing like the rich

VITALIS MOSES says:

Who them Help?
Pls..Who is the richest Animal on Earth.?.. 🙏..

Wayne Johnson says:

Yes, the wealthy should pay higher taxes. Corporations should not be allowed avoid paying taxes, and no individual should be allowed to be a billionaire, that’s just obscene.

Caring Sharing says:

Before we die, we'll all have one last glance at this world. Sadly, that's when we'll realize the futility of this temporary worldly life. Even our own body will be left to rot 6ft down. Be humble, caring and sharing.

Jarrod Yuki says:

america is an oligarchy and aristocracy not a democracy.

Malcolm Christopher says:

There should be a cap on maximum wealth. After a curtain amount of wealth the money should be invested into business to create jobs and if that person can't invest that money into more jobs or should be taken as tax and the government should invest it into creating jobs

Da prince says:

Presenter💞💞

horpemna hedaktuk says:

It's nice

Diana Wambui says:

Stop whining and have that money work for you!!!!! Discipline, hardwork, financial literacy… that's what sets the top 1% from the poor and the middle class.

Anand M. Kumar says:

Let's tax the super rich and wealthy tourists to fund civilization's defense against the depredations of the super rich and wealthy tourists who usually run human trafficking outfits

turbo Flacko says:

It was saddening to see how easy it was for people who are up to get more

Dora Hietavirta says:

Wait a second. There are planetary boundaries! Economists cannot afford to just think about their own subsystem!

turbo Flacko says:

Feeling a robinhood vibe coming on

Divided&Conquered says:

America is a Plutocracy! 🤦 A capitalist dream! Land of the elite! This privileged lady, is annoying I coud not tolerate her!😒

Ian. Ernest Froud says:

I'm skint , I'm happy ,

Handsome Fellow says:

Cough….. cough….Saudi prince

Divided&Conquered says:

I could never be rich, I ain't now and still give to people who have less than me! If I did have money, I would try my hardest to save this beautiful planet!😁

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