How could additional funds – on top of 0.7% ODA – be raised in the spirit of global redistribution? Through a global tax on extreme personal wealth, for starters. There are now more than 2,000 billionaires living in 20 countries from the USA, China and Russia to Turkey, Thailand and Indonesia.93 An annual wealth tax levied at just 1.5% of their net worth would raise $74 billion each year: that alone would be enough to fill the funding gap to get every child into school and deliver essential health services in all low-income countries.
