Independent Commission for the Reform of International Corporate Taxation (ICRICT). Chaired by @JosephEStiglitz and @Jayati1609
Joined February 2015
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ICRICT retweeted
Jun 14
There cannot be a law more lenient for the rich and powerful than for the rest of us.
The fight for bringing billionaires into the fold — in the UK and around the world — is only just beginning.
theguardian.com/politics/202…
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ICRICT retweeted
Jun 14
It's time to break decisively with the logic where retirees, the poor, or immigrants are expected to balance the budget, while the rich are to be allowed to live in their own parallel society.
That starts with creating an unavoidable minimum tax on the wealth of the superrich.
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ICRICT retweeted
Jun 14
For comparison, the fiscal savings expected from the catastrophic 2024 decision by Keir Starmer to scrap the winter fuel allowance for retirees were estimated at about £1.5 billion annually.
10 times less than what a small 2% minimum tax on 1,000 families could bring.
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ICRICT retweeted
Jun 14
A minimum tax equal to 2% of wealth for households with net wealth above £100 million would bring in £15 billion annually – 0.5% of GDP.
£15 billion, from just about 1,000 families, each year.
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ICRICT retweeted
Jun 14
But the tide has finally started to turn.
In 2025, the UK abolished its non-dom regime – the tax exemption for rich foreigners.
This was a a step in the right direction, and it’s now time to take this logic to its conclusion:
No billionaire should be allowed to go tax free.
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ICRICT retweeted
Jun 14
In the 1980s, when this movement started, poverty skyrocketed in the United Kingdom.
Under Tony Blair’s government, it remained at a very high level.
And since then the UK has even seen child poverty rise: more than 30% of children now live in poverty.
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ICRICT retweeted
Jun 14
It is impossible to understand today's world if one ignores this upheaval.
For with the explosion of the wealth of the super-rich has come an explosion of their power:
The power to tilt markets, to shape public discourse, to influence policymaking, to stall social progress.
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ICRICT retweeted
Jun 14
In the 1980s, the 0.001% wealthiest families living in the UK — roughly 200 families — owned wealth equivalent to 5% of UK GDP.
Today: 20% of GDP.
If they spent all their wealth, these 200 families could buy ~1/5 of all the goods & services produced in a given year in the UK.
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ICRICT retweeted
Jun 14
The explosion of billionaire wealth has been one of the defining features of our time.
Globally, billionaires used to own wealth equivalent to 3% of world GDP in the 1980s.
Today: 17% of world GDP.
And the upsurge is accelerating.
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ICRICT retweeted
Jun 14
Thank you SO MUCH for making my new book a UK bestseller.
Leaders in the UK and around the world can no longer ignore extreme wealth and the danger it poses to our democracies. 🧵
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ICRICT retweeted
“Entrepreneurs should know that when they amass more than £100m in wealth it is because they have been extremely lucky, benefiting from a national infrastructure and local amenities created and funded by the state, as well as workers’ skills”
theguardian.com/politics/202…
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ICRICT retweeted
A trillionaire? In this economy? 🤑
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ICRICT retweeted
Jun 12
Those who celebrate @elonmusk's $1 trillion fortune need to be reminded of a simple and vital truth:
That there is a fundamental tension between extreme wealth and the very possibility of democracy.
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ICRICT retweeted
I'm here to support the people not the billionaires at the World Cup #TaxTheSuperRich #worldcup2026
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Poverty is a policy choice that starts with how we design our tax systems.
In @guardian, #ICRICT co-chairs @JosephEStiglitz & @Jayati1609 and commissioner @PikettyWIL join 350 signatories: rewrite the rules that manufacture poverty.
#TaxJustice
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La pauvreté est un choix politique. Tout commence par nos systèmes fiscaux.
Dans @lemondefr et @guardian, @JosephEStiglitz , @Jayati1609 et @PikettyWIL , aux côtés de près de 400 personnalités, signent une feuille de route pour l’éradiquer.
#JusticeFiscale #TaxJustice
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"Wealth tax is not just to pay government bills but to change the property structure" — @PikettyWIL at the closing of #WIC2026 in Paris.
The Global Justice Report lays it all out 👇
wir2026.wid.world/download/.
@WIL_inequality @PSEinfo
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"Tax justice cannot be separated from broader reforms of the global economy" — ICRICT Co-Chair @Jayati1609 at #WIC2026 in Paris 🇫🇷
Building a more equitable economic system requires sovereign debt restructuring, stronger financial safety & fair taxation, she said.
#TaxJustice
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ICRICT retweeted
"We need to establish a new principle: extreme wealth must come with unavoidable obligations to society. That is the idea behind an unavoidable minimum tax on the super-rich." 💬 @gabriel_zucman
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ICRICT retweeted
Sarah Perret, Emmanuel Saez, and @gabriel_zucman discussing the future of billionaire taxation at the World Inequality Conference 2026.
🎙️Moderated by @EmmaAgyemang
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