G20 Summit Tackles Wealth Tax Proposal Amid Global Tensions

Brazil pushes for a billionaire tax to address inequality, but faces resistance from key nations.

Brazilian President Lula da Silva is advocating for a 2% annual tax on the net worth of billionaires at the G20 Summit in Rio de Janeiro.
The proposed tax aims to generate up to $250 billion annually to combat global inequality and climate change, particularly benefiting low-income countries.
Resistance to the wealth tax comes from nations like the United States, where political leaders express skepticism about its feasibility.
The summit agenda also includes the launch of the Global Alliance Against Hunger and Poverty, with 31 countries already committed.
Geopolitical issues such as the Ukraine and Gaza conflicts and the impact of Donald Trump's reelection are expected to influence discussions.