This keynote will discuss pressing issues with contemporary tax systems in Korea and globally, and solutions to address these issues. A growing body of evidence shows that ultra-high-net-worth individuals have particularly low tax rates, lower than that of all other socio-economic groups. Through domestic measures and international action, it is possible to invent a new system of taxation reconciling economic openness with tax justice. #taxation #elonmusk #billionaire

00:00 Progressive taxation is a key pillar of modern societies
01:11 The lack of progressivity of contemporary tax systems
05:27 The failure of the income tax at the top
08:40 The rise of global billionaire wealth
10:52 A new proposal
13:42 A powerful tool to safeguard progressivity at the top
15:56 The need for international cooperation
18:47 A tool to strengthen the income tax
20:13 Coordination while respecting national sovereignty
21:14 Implementation challenge
29:11 Conclusion
29:51 Question 1
32:01 Question 2

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