Billionaires should face a minimum tax rate, report says – BBC
Joseph Stiglitz, the Nobel Prize-winning American economist, suggested in an introduction to the report that unfairness in taxation poses a risk to democracy.
“If citizens don’t believe that everyone is paying their fair share of taxes – and especially if they see the rich and rich corporations not paying their fair share – then they will begin to reject taxation.
“Why should they hand over their hard-earned money when the wealthy don’t? This glaring tax disparity undermines the proper functioning of our democracy; it deepens inequality, weakens trust in our institutions, and erodes the social contract.”