Tax the Rich!

Inequality in the world is rife, and our planet is burning. A wealth tax could combat this

• The richest 1% globally emit as much carbon pollution as the poorest two-thirds of humanity.

• EU governments miss 33 million euros per hour in unpaid taxes from the super-rich.

• Since 2020, the five richest men in the world have seen their fortunes more than double, while almost five billion people have seen their wealth fall.

• In the EU, since 2020 the five richest billionaires increased their wealth by 76 percent, at a rate of 5.7 million euro per hour, while 99% of the EU’s population became poorer.

• Since 2020, billionaires in the EU increased their accumulated wealth by one-third, reaching 1.9 trillion euros last year.

• Seven out of ten of the world’s biggest corporations have a billionaire CEO or a
billionaire as their principal shareholder.The richest 1 percent holds 47 percent of the total financial wealth in Europe.

• The per capita emission of a person in the EU in the top 1 percent is 14 times more than the per capita emission of a person in the bottom 50 percent

A wealth tax is a step in rebalancing power dynamics in the world.