“Wealth Tax” in Rich Nations Can End “Vaccine Imperialism” (Part IX)

by Bobby Reyes

“Calculating Taxes Up And Down” | Photo by kenteegardin via Flickr/CC BY-SA 2.0

I used for the first time the term “Vaccine Imperialism” in Part V of this series. I said in it that “The medical centers (‘MedCenters’ in 50 foreign locations) can produce affordable vaccines and therapeutic medicines. The bottom line is that the world will remember how President Biden fought to eliminate the ‘Vaccine Imperialism’ by the rich-and-developed countries.”

I wrote about the apparent inability of less-developed countries to provide vaccines against the coronavirus to their poor citizens that constitute the overwhelming majority of the world’s population. But sooner than later, the rich countries would be forced to help the developing nations provide vaccinations to their suffering populations. Why? Because there is a need for a universal “herd immunity.” Besides, if the pandemic had depopulated many developing countries, who would buy food, goods, services, technology, and state-of-the-art equipment exported by the world’s leading suppliers?

Well, here is a positive development. The Bloomberg News reported this week that “Switzerland’s wealth tax offers a rare real-world example of how a levy on assets can work, just as such ideas gain traction elsewhere in the wake of the coronavirus crisis.

“The measure forces residents in one of the world’s wealthiest nations to tally the value of their investments, real estate, cars, fine art, Bitcoin, and even beehives and cows. A percentage is then skimmed off by cantonal governments, varying in size and method depending on the canton. Among only a handful of countries with the levy, Switzerland can claim that it has the most effective one.

“With the Covid-19 fallout causing government debt to swell and hurting poorer people most, wealth taxes are being debated from California to the U.K. as a tool both to pay down debt and address inequality. U.S. Senator Elizabeth Warren, Nobel laureate Joseph Stiglitz, and economist Thomas Piketty are among proponents.”

The G-7 Nations will have a virtual meeting — as hosted by Prime Minister Boris Johnson of the United Kingdom — this Friday. Perhaps President Biden (or his representative, if he cannot make it to the meeting) must persuade the other six national delegations to agree and declare that “vaccination (against viruses) is a universal human right.” Again, please see the link to why a suggested Biden Back-to-Basics (B2B) Doctrine must lead to making vaccination a human right in this link.

The “Wealth Tax” initiative of the Swiss government is a significant development. Yes, the world needs to come together and fund a universal vaccination (against viruses and other pathogens) as a human right. This column also laid out five ways of financing the suggested MedCenters’ creation in 50 strategic locations globally. If you forgot what the five funding sources are, please go to this link.

Perhaps, someday, the Fourth Estate of many countries will remember how a team from the Philippine Daily Mirror was ahead of the pack in proposing a Biden B2B Doctrine take the lead in constructing 50 MedCenters around the world. Besides, funding them in producing locally vaccines and viral therapeutics and vaccinating people as their human right. Thus, ending in the bud, a feared “vaccine imperialism” — with a lot of help from the Swiss government (and its pioneering “Wealth Tax” to combat the pandemic) and leaders like Sen. Elizabeth Warren, Nobel laureate Joseph Stiglitz, and economist Thomas Piketty, among other progressive minds.

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