A list of countries that have a #WealthTax and how they work. THREAD:
#Norway has a wealth tax of 0.85% on individual stocks worth more than $170,000. Of this, 0.7% goes to municipalities, and 0.15% goes to the central govt. In 2017, the wealth tax made up 1.1% of all Norwegian tax revenue.
#Spain has a progressive wealth tax between 0.2% and 3.75% on stocks above $784,000.
#Switzerland has had a wealth tax since 1840. In 2017, wealth tax made up 3.6% of all Swiss tax revenue.
#Argentina recently passed a “millionaire tax” to help pay for ongoing pandemic relief + medical supplies. About 12,000 people worth over $2.5 mil will be taxed: bbc.com/news/world-lat….
UK Finance Minister @RishiSunak might introduce a one-off 1% wealth tax over 5 years on wealth over $700,000 for individuals: theguardian.pe.ca/business/reute…
It’s about time we start talking about a #wealthtax seriously in Canada so everyone is paying their fair share, especially during an economic recession. Sign our #TaxtheRich movement here: broadbentinstitute.ca/tax_the_rich
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