Study: How Many Millions of Lives a 3% Tax on Billionaires’ Wealth Could Save

A 3% tax on billionaires’ wealth could save up to 29.5 million lives by 2030. That is the conclusion of a new study published in the prestigious journal “The Lancet,” at a time when international aid to the poorest countries is being sharply cut.

Researchers warn that cuts to international aid for low- and middle-income countries could have severe consequences.

If these cuts continue, around 7.6 million deaths could occur by 2030, of which 1.4 million would be children under the age of 5.

But, according to the study’s models, part of this financial gap could be covered through wealth taxation.

A 1% tax on billionaires’ wealth could avert around 15.1 million deaths, while a global tax on financial transactions could avert around 24.5 million.

The researchers stress that these are model-based estimates, not certain forecasts.