Monday, January 13, 2020

IMF boss says raise taxes on the rich to tackle inequality— Larry Elliott

Kristalina Georgieva, the IMF’s managing director, said higher marginal tax rates for the better off were needed as part of a policy rethink to tackle inequality.
In a sign of how the IMF has moved away from the tax-cutting approach that once formed a central part of its policy advice, Georgieva said there needed to be a different approach to tackling what had become “one of the most complex and vexing challenges in the global economy”.
The IMF chief, writing in a blog, said: “Inequality of opportunity. Inequality across generations. Inequality between women and men. And, of course, inequality of income and wealth. They are all present in our societies and – unfortunately – in many countries they are growing.”
The Guardian (UK)
IMF boss says raise taxes on the rich to tackle inequality
Larry Elliott, economics editor
Kristalina Ivanova Georgieva-Kinova is a Bulgarian economist, who is the managing director of the International Monetary Fund. She worked as chief executive of the World Bank from January 2017 to 1 October 2019. She served as Acting President of the World Bank Group from 1 February 2019 to 8 April 2019. Wikipedia

1 comment:

Andrew Anderson said...

Otoh, MMT proposals are to raise taxes on the non-rich to curb their consumption in the event of unacceptable price inflation since the rich don't consume enough to make a difference.

So instead of tax and spend we get spend and tax the non-rich.

Why not instead de-privilege the banks since that would allow a huge amount of fiat to be spent and equally distributed to all citizens to promote the general welfare with little price inflation risk?

Too fair?