# Brazil's Bold Wealth Tax Proposal Aims to Tackle Climate Crisis and Inequality 🌍

**URL:** <https://onehack.st/t/brazils-bold-wealth-tax-proposal-aims-to-tackle-climate-crisis-and-inequality/288055>\
**Category:** News & Articles\
**Tags:** news\
**Created:** [August 1, 2024, 3:37am UTC](https://onehack.st/t/brazils-bold-wealth-tax-proposal-aims-to-tackle-climate-crisis-and-inequality/288055 "2024-08-01T03:37:30Z")\
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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [August 1, 2024, 3:37am UTC](https://onehack.st/t/brazils-bold-wealth-tax-proposal-aims-to-tackle-climate-crisis-and-inequality/288055/1 "2024-08-01T03:37:31Z")

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**Summary:**

1. **Wealth Tax Proposal** : Brazil’s climate chief, Ana Toni, suggests a 2% tax on billionaires’ assets, expected to raise $250 billion annually to combat the climate crisis and reduce inequality. This tax would impact around 100 billionaire families globally.

2. **G20 Agenda** : The proposal is a key topic at the G20 meeting in Rio de Janeiro. While no country openly opposes the tax, private skepticism exists, with concerns about implementation and global tax enforcement.

3. **Allocation Debate** : There’s ongoing debate on how to use the raised funds, with some advocating for climate crisis solutions and others for poverty alleviation. The approach could mirror the global 15% corporate tax agreement by G7 finance ministers.