More than 150 Italian economists have signed on to the proposal to tax the super-rich launched by President Luiz Inacio Lula da Silva, and which will land at the G20 Finance G20 in Rio de Janeiro at the end of July. The "Tax the Rich" legislative initiative calls for the introduction of a progressive tax on large assets, to be applied to the richest 0.1% of Italian citizens, about 50,000 people, for the portion of their net worth exceeding 5.4 billion euros. It is estimated that revenues could reach up to 16 billion euros a year. This is not a "patrimonial tax", but rather the introduction of "three additional tax brackets for higher incomes". Among the proposals is also that of increasing the levy on large inheritances and gifts. For the time being, the economists' initiative is only Italian, but these days it is being extended to other European countries.
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