Wealth

The gap between rich and poor is large and growing in almost every country. In America, the richest 1% gained $7 trillion in wealth in 2020. The most effective way to address the problem is taxing the rich. But what kind of tax, and how much? There is an emerging support for a one-off wealth tax – including on property and financial stocks. In America, such a wealth tax – such as a 5% tax on the richest 5% of households (with wealth in excess of $2.5 million) is favoured across the political spectrum, according to recent polls.

— Wayne Visser

From Purpose Inspired: Reflections on Conscious Living, Volume 5. Buy on Lulu ↗