The wealthy get richer even when governments ‘clamp’ down

markets have shown little fear in reaction to renewed revelations of vast personal wealth accumulation among the wealthy over the past decade. The Nasdaq has risen to an all-time high, Facebook hit a market cap of $1tr and Apple remains comfortably above the $2tr level.

A new minimum global tax level of 15% for companies has been agreed to by 130 countries. This is lower than the 22% which has been calculated to offset any tax arbitrage, whereby a tax rate of 28%