After returning from the IV Summit in Defense of Democracy in Barcelona earlier this month, Mexican President Claudia Sheinbaum finds herself at the center of a growing global debate: whether to tax extreme wealth.
According to a recent report from El Sol de México, Sheinbaum has committed to evaluating a “fair and progressive” tax system that includes the possibility of a so-called “wealth tax.”
Quentin Parrinello, policy director of the International Tax Observatory, confirmed that the president discussed the matter with the 11 other left-of-center heads of state attending the summit.
The numbers are striking. The Observatory estimates that a two percent tax on fortunes exceeding US$100 million would generate US$10 billion annually for Mexico — approximately one percent of GDP. With a three percent rate, that figure rises to US$15 billion.
Please login or subscribe to view the complete article.