A global inequality tax

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Branco Milanovic suggests a global tax to tackle inequality -not just low income levels- in the developing world.

Global redistribution through taxes that would be levied by an international body may seem far-fetched today, but the logic of development that we are witnessing – particularly the move away from nation-states as the locus of sovereignty – suggests that it may eventually come to pass…

Those who advocate leaving globalization exclusively in the hands of the private sector may resent the idea of vesting tax-raising authority in a global agency. But they cannot fail to notice that the processes they support undercut their own position by rendering the wealth gap more obvious and the fairness of the actual global distribution more questionable. They will ultimately realize that their self-interest lies in supporting some form of global action to deal with both poverty and inequality.

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