$6.2 million banana
A world where someone pays $6.2 million for a banana duct-taped to a wall is a world that needs wealth taxes. But when wealth taxes are considered by politicians and governments, unsubstantiated spin and myth making dominates the debate. (If you can call it a debate). We look at the Tax Justice Network's modest wealth tax proposal which could help governments increase their national budgets by 7 percent a year, a potential global revenue of more than 2 trillion US dollars annually. And we discuss what research really says about so-called 'tax flight' by the very wealthy because of tax reforms. Will they really leave in droves? Featuring: Mark Bou Mansour , Tax Justice Network Alison Schultz , Tax Justice Network Victoria Gronwald of the London School of Economics. She's co-author of their report, Tax Flight. Britain's wealthiest and their attachment to place. Various AI-voiced excerpts from interviews with High Net Worth Individuals from the LSE report. Hosted and produced by Naomi Fowler , Tax Justice Network Transcript of the show is here (some is automated) https://podcasts.taxjustice.net/wp-content/uploads/2024/12/6m-banana-transcript_Dec_24.pdf Further reading: Texas Judge Wrongly Halts Enforcement of Landmark Anti-Money Laundering Law https://thefactcoalition.org/texas-cta-injunction/ An update from FACT Coalition in the US on the US Treasury appeal against the Texas Judge's Nationwide Injunction Against Corporate Transparency Act https://thefactcoalition.org/just-the-facts-12-12-24/ The Guy Who Bought (and Ate) That Banana Art https://slate.com/technology/2024/12/justin-sun-banana-art-crypto-billionaire-criminal-comedian-maurizio-cattelan.html Countries can raise $2 trillion by copying Spain's wealth tax, study finds https://taxjustice.net/press/countries-can-raise-2-trillion-by-copying-spains-wealth-tax-study-finds/ Tax flight? Britain's wealthiest and their attachment to place, LSE report https://eprints.lse.ac.uk/121396/ Infographic: The extreme wealth of the superrich is making our economies insecure https://taxjustice.net/2024/08/19/infographic-the-extreme-wealth-of-the-superrich-is-making-our-economies-insecure/ Wiki: How to tax the superrich (with pictures) https://taxjustice.net/2024/08/19/wiki-how-to-tax-the-superrich-with-pictures/