Article Title: Forget philanthropy. The super-rich should be paying proper taxes

 

Article Summary

This is an article which revolves around the topic of taxes. The main idea of the author of the passage can be summed up in a single line: the rich need to pay more taxes. The author of the passage believes that the rich have avoided paying taxes for far too long and this needs to change if we need to reduce income inequality in the world.

In the first part of the passage, the author talks about the Davos summit, where the richest of world assemble. The author uses the summit essentially to quote views of some of the richest people in the world. He highlights the view of Robert Nozick, wherein the state had no right to force the wealthy to help others. The rich essentially need to see this giving as a virtue and not be forced to do so. The author then explains that is essentially never going to happen and the world will keep waiting for the rich to develop a conscience, thereby the cycle of inequity will continue to be.

The author of the passage also highlights that how the supposed rising of the left and the marginal voices, through the rise of populist leaders and movements such as Brexit as actually not a rising at all and it is the continuation of more of the same. The author is critical of charity and how the hit and miss impact of charity cannot cover for the flaws of the system.

Overall, the article essentially asks for a redressal of the tax system and for the rich to pay up more.

 

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Words to learn from this Article:

Humbled: Subdued or brought low in condition or status

Unruffled: Free from emotional agitation or nervous tension

Trembling : Vibrating slightly and irregularly; as e.g. with fear, cold or like the leaves of an aspen in a breeze

Globetrotting: Travel all over the world for pleasure and sightseeing

Forbade: Command against

Virtuous: Morally excellent

Magnificos: A person of high position

Inflicting: Make (someone) do something unpleasant

Betraying: Reveal unintentionally /Deliver to an enemy by treachery

Denounced: Speak out against/Accuse or condemn openly or formally; classify or describe as disgraceful

Anarchy: (government) a state of lawlessness and disorder (usually resulting from a failure of government)

 
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