A Washington state couple's argument was rejected by the Supreme Court on Thursday, preserving a Trump-era tax on foreign assets. The case could have compromised current tax laws and blown up Democratic talk of a wealth tax.

US Supreme Court upholds Trump-era tax on foreign assets; handing Biden potential win

G20 Minister's proposal of a wealth tax on billionaires is gaining a lot of traction with an argument that this would perhaps help fight poverty inequality and climate change more details coming up.

Wealth Tax could fund climate change and poverty?

Cash-strapped Sri Lanka is still struggling with economic crisis and interim budget might include a rise in income tax. Ranil Wickremesinghe has called for all-party unity.

Sri Lanka's economic crisis: Ranil Wickremesinghe hints at wealth tax

It's an idea championed by US President Joe Biden, leading economists and even the International Monetary Fund -- make the rich pay more taxes to replenish public coffers and narrow huge wealth gaps.

Biden puts taxing rich back in spotlight

Direct taxes are made up of income tax paid by individuals, wealth tax and corporation tax paid by companies.

Direct tax collections rise 18.2 per cent in April-December

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