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:
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?
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