Haddad proposes taxation of billionaires at G20 to Fund Universal Basic Income

Minister of Finance in the Lula Government proposes taxing billionaires to fund Universal Basic Income

During his virtual speech at the G20, Finance Minister Fernando Haddad outlined a comprehensive approach to tackling global challenges. He emphasized the need for billionaires to contribute more in taxes to finance a universal basic income for the poorest people worldwide.

Haddad highlighted that the recent wave of globalization has led to increased inequality, with wealth concentrating in the hands of a few while many struggle to meet basic needs. He proposed a new era of socio-environmental globalization, where progressive taxation and international cooperation would be essential to create a financial safety net for all citizens, regardless of their occupation or economic situation.

In addition to advocating for fairer taxation of billionaires, Haddad argued for the implementation of a global minimum wealth tax as an essential part of this strategy. He stressed that the resources from these taxes could be directed towards funding a universal basic income, providing people with access to basic needs such as food, housing, and healthcare, thereby reducing poverty and promoting equal opportunities.

Although the proposal faces challenges and debates about its feasibility and impact, Haddad believes it is time to address global challenges with a more supportive and collaborative approach among the nations represented at the G20. The implementation of a universal basic income, funded by the wealthiest individuals, could be a way to build a fairer and more equitable world for all.

Universal Basic Income in Brazil and Worldwide

In Brazil, the idea of a universal basic income is not new. Former senator Eduardo Suplicy is widely recognized as a pioneer in this field, tirelessly advocating for this proposal for decades. His visionary vision has inspired debates and discussions across the country, highlighting the importance of ensuring a minimum standard of living for all citizens. Now, with Minister Haddad's recent proposal to tax billionaires to fund universal basic income, Brazil may be closer than ever to turning this vision into reality, paving the way for a fairer and more egalitarian future for all.

In the world, some prominent billionaires have already expressed support for the idea of a universal basic income. Among them are:

Elon Musk: The CEO of Tesla and SpaceX has mentioned on several occasions the need for a universal basic income to address the challenges of automation and artificial intelligence.

Mark Zuckerberg: The founder of Facebook has also advocated for the idea of a universal basic income as a way to provide financial security to people and allow them to pursue creative and innovative opportunities.

Richard Branson: The British entrepreneur and founder of the Virgin Group has expressed support for the idea of a universal basic income as a way to combat poverty and promote equal opportunities.

Chris Hughes: Co-founder of Facebook and advocate for universal basic income in the United States, Hughes has argued that it is a viable solution to address economic inequality and ensure a decent standard of living for all citizens.