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G20 finance ministers discuss a global tax on the super-rich
Finance ministers from leading rich and developing nations gathered in Rio de Janeiro on Thursday for a two-day meeting to discuss a global tax on the super-rich, a top priority for Brazil, which holds the presidency. According to the proposal before the Group of 20, individuals with over $1 billion in total assets would be required to pay the equivalent of 2% of their wealth in income tax. Brazil’s Finance Minister Fernando Haddad told reporters that the final declaration will mention a proposal to tax the super-rich, but he didn’t detail wording or whether it will specifically cite the 2% proposition. ... (full story)