Economists and many millionaires are calling on governments to impose taxes on the world’s superrich, warning of an unfolding “economic, ecological and human rights disaster” caused by escalating wealth inequality.
Billionaires have seen their wealth grow by 109 percent over the past decade – from $5.6 trillion to $11.8 trillion in total, according to Oxfam International, which focuses on the global alleviation of poverty.
Their fortunes grow a collective $2.7bn a day, it calculated.
Government policies around the world have greatly benefitted the wealthy and the finance sector while failing to protect working-class interests, critics said.
The main obstacle to the implementation of a global tax system for the mega-rich, however, is “political, of course”, she said.
Stronach, writing in Canada’s National Post newspaper, also proposed nations create an “economic charter of rights” to tackle the deepening problem of wealth inequality.
“With an economic charter of rights, companies with more than 300 employees would be required to share 20 percent of their annual profits with employees,” Stronach said. »