Despite Historic Levels of Inequality, Yellen Opposes Global Billionaires Tax

U.S. Treasury Secretary Janet Yellen opposes a proposed global tax on billionaires at the G7 meeting to set a minimum rate for the ultra-wealthy, citing a lack of support for redistributing proceeds through a common global arrangement.

The proposed 2% global tax on billionaires aims to prevent tax avoidance and raise $250 billion annually, contributing to progressive taxation efforts worldwide.

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