Paper 1 real world example: Income equality and taxation
Brazil has proposed a 2 per cent tax on the world’s billionaires, a plan supported by governments in South Africa, Germany, and Spain. According to Forbes, there are currently 2,781 billionaires worldwide, an increase of nearly 600 per cent over the last 20 years. The world’s billionaires have a combined total wealth of $14.2 trillion, and it is estimated that a 2 per cent tax would raise $260 billion. A sum of this...