TITLE: Platform Amendment – Progressive Global Wealth Tax
SPONSOR: Youth Caucus
Passed in a vote by a majority of the caucus steering committee on our 12/17/17 conference call.
BACKGROUND: Global problems require global solutions. Wealth inequality has reached crisis levels, and is likely to continue to worsen. A progressive global wealth tax on millionaires and billionaires solves the problem of offshore tax havens.
PROPOSAL: A progressive global wealth tax on millionaires and billionaires.
Section being addressed:
IV. Economic Justice & Sustainability
E. Fair Taxation
Current language of the platform plank being addressed
We call for progressive taxation, shifting tax from individuals to corporations, taxing “bads” not “goods,” taxing unearned income at the same rate as earned income, taxing speculation on Wall Street, and cutting corporate tax giveaways.:
Proposed addition to follow after the current language:
We call for a progressive global wealth tax on millionaires and billionaires, in order to reduce crisis-level wealth inequality and eliminate the problem of offshore tax havens.
“Capital in the 21st Century” – Thomas Piketty
“The Hidden Wealth of Nations: The Scourge of Tax Havens” – Gabriel Zucman