RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Wealth

Insight On The Richest 1%

Rate Captain by Rate Captain
December 2, 2021
in Wealth
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

A whopping loss of $35.75 billion was recorded by the top 4 richest

Musk Spent $2.64 billion for Majority Stake in Twitter.

Oil prices bullish, hits highest level since 2014

The richest 1 per cent have since the mid-nineties captured 38 per cent of wealth growth globally, said an annual report that called for “modernising tax systems” to reduce inequality.

The richest 10 per cent own around 60-80 per cent of wealth and the poorest half less than 5 per cent of wealth, said the World Inequality Report 2022 that will be published by the Harvard University Press on December 7.

Global billionaire wealth in 2021 represents 3.5 per cent of the world’s household wealth, with share of the global top 0.01 per cent up from 7 per cent of global wealth in 1995 to 11 per cent this year, The Indian Express quoted the report as saying on Thursday.

The report suggested developing new forms of wealth taxation on multimillionaires, including a progressive rate of wealth tax with tax rates according to the value of the total amount of wealth owned. Tax ranging from 1 per cent of wealth owned over $1 million to 3 per cent for global billionaires can generate 1.6 per cent of global income.

The report estimates that a 15 per cent minimum corporate tax—”very low” would lead to revenue gains of 83.3 billion euros in EU, 57.0 billion euros in the US, 6.1 billion euros in China and 0.5 billion euros in India.

“We propose a global wealth tax on multi millionaires, people who own more than a million dollars or euros and this tax in this proposal is progressive, meaning that the rates are going to be according to the value of the total amount of wealth that you own,” said Lucas Chancel, co-director at World Inequality Lab at a pre-briefing meet on the report.

“In countries, where wealth is highly concentrated, more rates on the stock of wealth of very wealthy individuals can deliver high amounts of revenues,” the Express quoted Chancel as saying.

“Women today get just one-third of all labour income in the world whereas gender parity would mean they get half of that. But currently women earn just one-third of all incomes from work and the situation has increased since the 1990s but at a very slow rate. If we continue at this rate, we need to wait at least a century to reach gender parity,” Chancel said.

The report is co-authored by Chancel, Emmanuel Saez, Gabriel Zucman and Thomas Piketty, the French economist whose book ‘Capital in the Twenty-first Century’ made him a celebrity when it was published in 2013.

Previous Post

TIES Can Reduce Unemployment

Next Post

Bitcoin Price Prediction

Related News

A whopping loss of $35.75 billion was recorded by the top 4 richest

A whopping loss of $35.75 billion was recorded by the top 4 richest

by Rate Captain
May 6, 2022
0

On Thursday, several of the top four billionaire-owned companies, including cloud computing, e-commerce, and household IT names, were battered, wiping...

Musk Spent $2.64 billion for Majority Stake in Twitter.

by Rate Captain
April 6, 2022
0

Elon Musk invested a total of $2.64 billion for his current stake in Twitter, according to an SEC filing released...

Oil prices bullish, hits highest level since 2014

by Rate Captain
February 15, 2022
0

Prices of the black liquid hit their highest level in more than seven years in the Asian session today as...

Abdul Samad Rabiu, CEO of BUA Group now Second-Richest Man In Nigeria

by Rate Captain
January 8, 2022
0

Nigerian Industrialist Abdul Samas Rabiu has become the second-wealthiest man in Nigeria, surpassing the likes of Mike Adenuga Femi Otedola...

Next Post

Bitcoin Price Prediction

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

May 23, 2022
CBN say Nigeria would reap the benefits of a rising oil price

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

May 23, 2022

Popular Story

  • Tether, USDT market cap has dropped by US$10B since UST collapse

    Tether, USDT market cap has dropped by US$10B since UST collapse

    0 shares
    Share 0 Tweet 0
  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
  • BNP Paribas has joined JPMorgan’s blockchain-based network.

    0 shares
    Share 0 Tweet 0
  • Investment Bank, JP Morgan predicts Foreign Exchange Rates from 2022-2023

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.