by Martin Armstrong, Armstrong Economics:

Brazilian President Luiz Inácio Lula da Silva is backing a global coalition along with the G20 nations to implement a global wealth tax. Lula believes there must be a 2% minimum tax on wealthiest 3,000 individuals, worldwide, in order to redirect those funds into climate change initatives. Finance ministers believe this could raise up to $250 billion a year and the money will be spent as the global conglomerate feels fit.