Articles on or after 4/24/2024: Heated World
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Behind the billionaire climate tax - Heated World (Apr 25) |
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Apr 25 · The climate crisis is extremely unaffordable. That’s the conclusion of a new study published in Nature last week, which found that global warming will cost $38 trillion every year by 2050. For comparison, the entire global economy is about $100 trillion per year.
But one economist has a novel idea about how to pay for at least part of the bill. At a meeting of the world’s wealthiest countries and banks last week, Esther Duflo proposed that the richest people should compensate poor people for the climate damages they disproportionately caused. That money would be raised through a climate tax on billionaires and large corporations.
Duflo is the youngest person and second ... Read more ...
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Nobel Prize-winning economist calls for climate tax on billionaires - Heated World (Apr 24) |
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Apr 24 · For the first time, the world’s most powerful countries are considering a proposal that would tax the super rich and send the money directly to the people on the front lines of the climate crisis.
The proposed climate tax is the brainchild of Nobel Prize-winning economist Esther Duflo, who presented it to the Group of 20 summit in Washington D.C. last Wednesday. Duflo suggested taxing global corporations and the world’s top billionaires to raise money for climate adaptation in countries that are most impacted by the climate crisis. The funds would be directly sent to the poorest individuals in those countries to help them prepare for climate disasters.
“Richer citizens ... Read more ...
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