Wealth tax would solve the vax problem – and a lot of other ones too
It could cover social grants and healthcare for poor countries and lift about 2-billion people out of poverty
A progressive wealth tax on the world’s richest individuals could pay for every person on the planet to be fully vaccinated and lift a swathe of its population above the poverty line, according to researchers.
Taxation would start at 2% on wealth more than $5m (about R77m) and progress to 5% on more than $1bn (about R15bn), generating $2.52-trillion (about R39-trillion), enough to cover the cost of two inoculations and a booster for the world’s estimated 8-billion people several times over, according to analysis on 66 countries by the Fight Inequality Alliance, the Institute for Policy Studies, Oxfam and Patriotic Millionaires.
In December only 4% of people in low-income countries were vaccinated, data from the World Bank show, compared with more than 80% of those in countries such as the UK who’ve had two doses. This matters not only because the unvaccinated are more vulnerable to becoming seriously ill, but also because it creates more opportunities for the virus to mutate...