Brazil Proposes New Global Tax on the Wealthy at G20 to Address Inequality and Tax Evasion

Brazil's finance minister proposed a global tax on the super-rich at a G20 meeting to address tax evasion and inequality.

He recognizes there will be much debate, as not all countries agree.

Brazil is prioritizing developing world issues in its G20 presidency.

Studies show countries lose billions in tax revenue due to evasion and billionaires have low effective tax rates.

Recent scandals revealed tax evasion pervasiveness, while inequality has soared, leading more to call for wealth taxes.