EU-funded report calls for wealth of super-rich to be taxed, not income

Contributing sentiments towards policy:

46% : In its inaugural global tax evasion report, the Paris-based EU Tax Observatory said billionaires have been pushing the limits of the law by moving certain types of income, including dividends from company shares, through dedicated holding companies that usually serve no other purpose.
46% : Commenting on the report, Nobel prize-winning economist Joseph Stiglitz said: "Tax evasion, and, more broadly, tax avoidance, is not inevitable; it is the result of policy choices - or the failure to make policy choices that act to stop it."He explained that a billionaire's tax would help governments fund important services such as education, infrastructure and technology, and soften the blow of oncoming crises, including future pandemics, and those linked to extreme weather events as a result of the climate crisis.
43% : "It depletes government revenues, and if not accompanied by egalitarian measures, it risks increasing inequality by boosting the after-tax profits of shareholders, who tend to be towards the top of the income distribution."
39% : "The EU Tax Observatory, led by the economist Gabriel Zucman, was founded three years ago and is funded by the EU as part of its efforts to combat tax abuse.

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