“Yes — extreme wealth is a policy failure”
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A global billionaire tax would impose an annual levy on ultra-wealthy individuals across borders, aiming to reduce wealth inequality and fund public services. Proponents argue it addresses tax avoidance and funds social needs; opponents contend it risks capital flight, business disruption, and enforcement challenges across jurisdictions. The debate intensified recently as countries like California and Switzerland considered wealth taxes, sparking both policy experimentation and fierce resistance from the wealthy.