Back from the IMF/World Bank Spring meetings, where — six weeks after the beginning of the work at the G20 on a coordinated taxation of the super-rich — there was palpable "tax the rich" energy in the room

A few notable developments 🧵 First, two Nobel Prize winners — Esther Duflo and @JosephEStiglitz — endorsed the proposal for a coordinated minimum tax on global billionaires

My speech at the G20 today — making the case for a coordinated minimum tax on the super-rich, and more broadly calling for new era of multilateralism, focused on rooting out the inequalities that can corrode democratic societies

+some thoughts on the reactions... 1/n



In the response by the ministers, there was strong support for the idea that we need new forms of cooperation to tax the super rich, increase tax progressivity, and fight inequality

This in itself is a historic development — for too long these issues have been ignored

Is rising US inequality an illusion? For people who want to make an informed opinion, I suggest starting with the official US government series 🧵 Taking the series as published (no attempt at harmonizing, etc.) – just the official headline series

Start with CBO

Let's talk about Auten and Splinter's work on US inequality 🧵

gabriel-zucman.eu/files/as-respo…
There has been an enormous increase in the concentration of income visible in tax returns in the United States

Because it's directly observable, nobody denies it

Who pays taxes, and how tax reforms would affect the different economic groups, are arguably some of the most important questions in modern democratic societies

Excited to share this NBER working paper, out today, that proposes a new (& hopefully better) way to do tax incidence The current practice of tax incidence originated from foundational scholarship conducted in the middle of the 20th century

It then evolved somewhat organically—and today has quite severe issues

We try to overcome those by proposing a new framework founded on optimal tax theory

Thrilled to publish the Global Tax Evasion Report 2024

A first-of-its-kind international research collaboration, building on the work of more than 100 researchers, coordinated by the @eutaxobservatory

With striking new findings

Thread 🧵

https://twitter.com/taxobservatory/status/1716220384972857381

End of bank secrecy, global minimum tax for corporations… the fight against tax evasion has been at the center stage of the international policy agenda over the last decade

What are the results?

Like in Sergio Leone’s movie, there is the Good, the Bad, and the Ugly