International Capital Tax Commission (ICRICT). Chaired by @JosephEStiglitz and @Jayati1609
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Joined February 2015
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ICRICT retweeted
With the midterms just right around the corner, staying informed has never been more important.
Every week, A Closer Look delivers in-depth analysis on the biggest economic and political issues facing working Americans.
Get it in your inbox ๐ฅ: patrioticmillionaires.org/clโฆ
ICRICT retweeted
Join us on 28โ29 October for our virtual workshop on Health Taxes and Excise Tax Administration in Africa.
We will explore tobacco and alcohol taxation, illicit trade, excise administration and practical country experiences.
๐ 11:00โ13:00 SAST
Register: ataftax-org.zoom.us/j/854817โฆ
ICRICT retweeted
Patrimoniale per finanziare una sanitร migliore o espropri per migliorare la crisi abitativa?
Dalla California a Berlino, un altro mondo รจ possibile.
E in Italia?
Sul @fattoquotidiano di oggi.
ICRICT retweeted
Elon Musk and his fellow billionaires think they can buy our democracy.
They are wrong. Together, we will defeat oligarchy.
ICRICT retweeted
A new poll of CA millionaires found:
- 57% support Prop 40
- 78% agree billionaires have too much influence in state elections
Read this week's Closer Look to learn what CA millionaires *actually* think about taxing their peers in the billionaire class: patrioticmillionaires.org/peโฆ
ICRICT retweeted
So let met get that straight: paying a wealth tax is impossible (โbillionaires have no liquidityโ, โit would be taxing unrealized gainsโ, โtheir wealth is virtualโ) but paying half a billion to influence elections is possible. Did I understand well?
Elon Musk has cemented his record as the largest individual political donor in modern American history.
Musk poured $446 million of his own money into this yearโs midterm elections, mostly aimed at preserving the Republican Partyโs control of Congress. wapo.st/4igb5Kq
ICRICT retweeted
๐ ๐๐๐ฐ ๐ฉ๐จ๐ฅ๐ข๐๐ฒ ๐๐ซ๐ข๐๐ ๐๐ฅ๐๐ซ๐ญ๐
๐ ๐๐๐ง ๐ญ๐๐ฑ๐๐ญ๐ข๐จ๐ง ๐ก๐๐ฅ๐ฉ ๐๐ข๐ ๐๐ซ๐ข๐ ๐ญ๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ฐ๐๐ฒ ๐๐ซ๐จ๐ฆ ๐๐จ๐ฌ๐ฌ๐ข๐ฅ ๐๐ฎ๐๐ฅ๐ฌ ๐ฐ๐ก๐ข๐ฅ๐ ๐ฉ๐ซ๐จ๐ญ๐๐๐ญ๐ข๐ง๐ ๐ฉ๐ฎ๐๐ฅ๐ข๐ ๐ซ๐๐ฏ๐๐ง๐ฎ๐?
As Nigeria navigates the shift towards a more sustainable future, tax policy can play a critical role in supporting the fossil fuel phase-out while strengthening domestic resource mobilisation.
TJNAโs policy brief, in partnership with Civil Society Legislative Advocacy Centre (CISLAC), Taxation as a Fossil Fuel Phase-Out Strategy: Nigeria, explores how taxation can support this transition and contribute to a more sustainable and equitable economic future.
๐ Read the policy brief: tjna.me/4jttNk7
#TaxJusticeAfrica
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ICRICT retweeted
Mark Zuckerbergโs threat to leave CA if voters approve a 5% billionaire wealth tax was a bluff.
Heโs not alone. Since Prop 40 was filed, CA gained 32 billionaires & billionaires in CA got $381 billion richer.
Yes. Itโs time for a billionaire wealth tax. It starts in California.
ICRICT retweeted
IMF surcharges help fund the IMF by covering lending, intermediation costs, accumulating financial reserves and managing risk. Austerity in the Global South should not fuel the institutional functioning of @IMFNews.
ICRICT retweeted
Share this post as widely as possible. No matter where you live, this referendum affects you.
Thank you all so much.
To my friends in California: the whole world is watching.
YES on Prop 40. NO on Props 41 and 42.
The forces of democracy will prevail over the forces of oligarchy.
ICRICT retweeted
We have just 12 days left to win a historic victory.
The clock is ticking.
California's billionaires have poured $300 million into a massive disinformation campaign designed to deceive voters and mislead the public.
To counter it, I need your help.
xitter.cf/gabriel_zucman/status/โฆ
ICRICT retweeted
California voters are dismantling, one by one, the excuses billionaires around the world โ from @BernardArnault to Jim Ratcliffe to @MartinLorentzon long used to avoid paying taxes.
The arrangement @Meta has just made for Zuckerberg shows, for example, that the supposed issues of โlosing controlโ billionaires constantly invoke is a smokescreen.
ICRICT retweeted
๐๐๐ฑ ๐ญ๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐ง๐๐๐๐ฌ ๐ฉ๐จ๐ฅ๐ข๐ญ๐ข๐๐๐ฅ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ญ๐จ ๐๐๐ฅ๐ข๐ฏ๐๐ซ ๐ซ๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ.
At the Africa Tax Administration Forum's Exchange of Information Continental Conference and Workshop, held from 14โ16 October in Victoria Falls, Zimbabwe, TJNA Policy Associate Zandile Ndebele called for stronger political commitment to turn tax information sharing into action against illicit financial flows.
TJNA highlighted the need for:
๐ฃClear laws and adequate funding to support implementation.
๐ฃSkilled personnel and secure systems to exchange and use tax information.
๐ฃStronger parliamentary oversight and cooperation among government institutions.
Through the Anti-IFFs Policy Tracker and the African Parliamentary Network on Illicit Financial Flows and Taxation (APNIFFT), TJNA connects evidence with political action to advance these reforms.
Effective information sharing helps countries uncover offshore assets, tackle tax evasion and mobilise resources for public services.
Read more: tjna.me/4iyZwiL
#TaxJusticeAfrica #AfricaAgainstIFFs
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ICRICT retweeted
California voters can make MAGA billionaires who support Donald Trump โ like Peter Thiel, the founder of @PalantirTech , and Sergey Brin, the co-founder of @Google โ their fair share.
They can show the world that it is possible to stand up to the same tired arguments billionaires always use to avoid taxation: threats to leave, claims that they canโt pay, warnings that innovation will suffer, and so on.
ICRICT retweeted
California's referendum is a major political battleโarguably one of the most consequential issues in this year's U.S. midterm elections.
California voters have the opportunity to spark a much broader movement to end billionaire impunity, both in the United States and around the world.
They can send a powerful message to the billionaires pouring hundreds of millions of dollars into ads designed to manipulate voters and sow confusion:
No. Not everything is for sale.
ICRICT retweeted
In the United States, extreme wealth has reached levels never seen beforeโnot even during the Gilded Age of the late 19th and early 20th centuries.
This is the concentration of wealth we must confront.
Because extreme wealth always comes with extreme power: the power to crush competition, manipulate public debate, shape public policy, and buy elections.
ICRICT retweeted
A one-time 5% wealth tax would merely bring Silicon Valley billionaires' fortunes back to where they stood just a few weeks ago, at the beginning of September.
Back when their wealth was "only" 178% higher than on January 1, 2023.
They would rather see 3 million people lose their health insurance than allow that to happen.
ICRICT retweeted
Since 1982, the wealth of California's billionaire classโthe richest 0.0002% โ has increased thirtyfold.
Between 2023 and 2025 alone, it surged by 144%.
California's billionaires now hold a combined $2.4 trillion in wealthโequivalent to all the income reported by ALL Californian families on their individual income tax returns.
ICRICT retweeted
To be sure, a handful of billionaires, most notably Sergey Brin and Larry Page, have threatened to leave California.
Itโs one of their usual tactics โ stoke fears โ but itโs highly unlikely they have done so. Why would Brin spend more than $100 million to defeat a tax he wouldnโt have to pay?
And hereโs the catch: they pay almost no income tax.
The $20 billion that Zuckerberg and Huang alone would pay in wealth tax represents 160 years of California individual income tax payments of Page and Brin combined!
So even if they leave, the State of California is guaranteed to be immensely better off.
ICRICT retweeted
If Prop 40 passes, Zuckerberg alone would contribute more than $10 billion to health care and education in California.
Add the $10 billion from Jensen Huangโwho has said that he would be โperfectly fineโ paying the billionaire tax โand we're already at $20 billion in guaranteed revenue.
There is now very little doubt that the tax will raise around $100 billion from Californiaโs roughly 250 billionaires.