At the IMF–World Bank Annual Meetings, ICRICT Co-Chair Joseph Stiglitz made the case for a 2% minimum tax on wealth to protect democracy and fairness.

Using France as an example, he argued that when billionaires oppose such a modest rate, “they’re admitting either incompetence—or tax avoidance.”

Stiglitz outlined three reasons this measure matters: it strengthens democracy, reinforces social trust, and cuts through the loopholes that let the ultra-rich avoid taxes. His bottom line: governments will always need revenue — the question is who pays.