suggesting a direct link to drug shortages across the country. al-jazeera mexico city south africa's drugs regulate says a local study on the johnson and johnson covert 19 vaccine showed no major safety concerns but it still decided to suspend the japs use of the concerns raised in the u.s. that it could be linked to blood clots and single dose was the only vaccine being administered in south africa does have other doses on order from pfizer. just gone for 30 g.m.t. i'm peter davi here in doha let's update your top stories for you the u.s. and nato say after 20 years in afghanistan they're ending their military campaign in a speech to the white house the u.s. president joe biden and seoul troops in afghanistan will be withdrawn by september the 11th protesters and the police having a face off in the u.s. state of minnesota for

a 4th night over the fatal police shooting of donte write an overnight curfew is now in effect in brooklyn center earlier the officer kim potter was charged with manslaughter she had pretends he was at the scene of the protests. but what minnesota has done is they've drafted in thousands of troops from around the state under a plan that was originally organized for the deryck schreuder dark when the police officer killed george schwartz and they simply moved out the plan for the entire city of minneapolis and now put it into action on this training sauber of brooklyn center against the wishes of the local community who are the ones grieving the loss of another 20 year old black man at the hands of the police completely are necessarily due to escalate so they're meeting protests about escalation with more escalation we're just waiting to see what they do next or whether they realize so many of these protests but a very stoic the protests will stay calm but you know it hasn't been marked out of

the last few nights. the defense continued to make his case in the murder trial of the former police officer derek show of in a retired pathologist testified george floyd died because of multiple factors including preexisting heart conditions the u.s. climate envoy john kerry is in shanghai to hold talks with chinese leaders it's the 1st visit by a senior member of the by ministration china's pledge to become carbon neutral by 2060 who the rebels in yemen say they've launched an attack using drones and missiles on the southern saudi city of jism they say caused a fire at one target belonging to the oil giant aramco. at least 20 children have died in a fire at a school in asia officials say the pupils aged between 7 and 13 were trapped in straw hot classrooms when the blaze broke out in the capital niamey those are your headlines up next it's the stream of 30 minutes of news straight after that 5 aussie that. want to i'll just. tell me what the government you

represent is now illegitimate and we listen we do not sell fence material any country. conflict and yet we meet with global news makers and talk about the stories that matter. high and for me ok you're watching the stream on today's episode how rich is too rich how you look at my laptop this is fell's forbes world's billionaires list the richest people in 2021 in the past year there have been 660 new billionaire i want you to look at this fact i'm just going to skip down here a lot of it so you can see it nice and clearly a new billionaire was minted every 17 hours on average over the past year now because when a global pandemic this is spot a whole conversation about wealth taxes should the super rich be taxed because the

super rich i know you have opinions on this if you're on you jump into the comment section and be part of today's show we start the debate if alex cobbler. on the tax justice network we reckon that one nurses annual salary is lost to tax havens and free single 2nd. because of the tax abuses of multinational companies and we'll see individuals stashing their assets offshore those are the resources that we need. to fight the pandemic to make sure there's public health services for everyone well why infection nation as quickly as possible we need to build back from the pandemic in a way that reduces the inequalities that scar our societies rather than worsening them and that's why we need tax justice measures we need progressive taxation of a radical short to raise the resources we need stand by for small arguments for and

against wealth taxes how. welcome to the stream morris introduce yourself to what he who you are what you do sure i marched parole violent here in new york city i ran a group called the patriotic millionaires who just wrote a book about taxing the rich and that's what we need to do thank you for having me welcome allison introduce yourself to the st louis it's. regular i'm a senior member of the and i also wrote a book not about actors but about rich. nice to have the ally raffia get to have all this conversation about wealth taxes tell everybody who you are i want you to say hello bunny my name is rough and we go out i'm senior lecturer in economics at the university of cornish and we just published a paper as to meet the revenue potential of wealth taxes in europe yes i want to play you this little clip from the forbes chief content officer his name is rhonda

talking about how people feel richer during the global pandemic carious. last year the world's billionaires were 8 trillion dollars on the nose this year 13 point one trillion that's more than 5 trillion dollars so in terms of this pandemic years been very very good to people very very. mice i guess so. you know i've known that all along i'm far wealthier now than i was before that endemic started and i haven't worked for a living in 7 years that's the problem some of us who don't even work are becoming wealthier and wealthier and wealthier because our investments are right up they're not going up and we pay far lower tax rates here in the united states because we get investment income that's taxed less than people who have to work for a living pay a tax rate so that's what's causing part of the quality of its destabilizing our

society alison well no i mean some degree of course it's not surprising it was by design we had a lot of policies that stopped up at the market and you know the stock was the stock market dropped a lot last march and then it rebounded heavily but that was lustily also by a lot of support for keep up the stock market and so a lot of to large extent this was by design although it's also going to remember that it's not as rich people who are in the markets 50 percent of americans or at least own stock in a lot of people in the u.k. their pension it out so well there is certainly room or there were aspects of our assets in risky portfolios to some degree we didn't all. i feel is have problem with rich people getting richer. there is a pattern in the it's received very clearly in the data over the last 40 years that the richest people in society are growing reaches of this is not a short term trend no because of deep and then we can be. measures from the central

banks but this is a long ongoing process and the degree of inequality of you have reached is. it is unilaterally it was almost i'm 8080 years ago to give you some some numbers now in the u.s. the richest one percent or more than a 3rd of or wealth in the country the richest one percent of u.s. households in europe it's about 11 3rd so these are the qualities the levels of in accordance this we are seeing and that's not new that's an ongoing long lasting trend since the last 40 years i said when we asked the provocative question going to show him my laptop how rates to rate this is what wrote in the tasa sent us since when is it a crime to be rich that is what capitalist society is predicated what hot and rob

wallet it alison yes so i think the imagery showed in the beginning of all those billionaires i think it remarkable that they're all self-made and they all created companies that provided value and i don't question for a bell about the show which you know are correct and show some long running trends but then the question as an economist which is did these people get rich and some other people i mean if there's a 0 sum game where some people get super rich they're necessarily making someone else worse off because that they're getting rich and making other people better off if that's necessarily even a problem. i don't think it's that simple to say that well some people are rich and it's all good so the deficit just gets more unfortunate i mean one of the reasons why we see. this is that like you know jeff bezos got a lot richer because of amazon this last year but i know amazon saved my life. so

did it him getting rich necessarily making me worse off whereas even maybe make me better off. well i mean it's the diversions in the amazon warehouses who work for. a lot of pressure very low wages that are certainly not. doing well because or better because business is doing so well i mean we have the i pads on have i think a very well. let me finish and of course here they'd never get. over the last 40 years or so we have certain industries which menaced next to extract the reins from from the rest of the economy to a large profits which are way above what a normal kind of company makes and that is at the at the cost and at the detrimental effect of other parts of society yes i do think so so let me just bringing said i am economic numbers just bringing the people who have a lot of money in this conversation so my scope go out and then i'm going to

actually turn the argument from millionaires and billionaires who want to pay a wealth tax they want to pay money nice to have you know it's not it's not bad that mr bayle says you're rich he did a great job running on a stock i would call him self made though he started out with hundreds of thousands of dollars from his parents and friends and family which is something slightly most of us can't do and even if half the people in america have own stock in the stock market the rich are i mean half the people don't so it's not a problem that people like mr basis are becoming very very wealthy that's great work out of this country what is the problem is that a quarter to half of the people in our country are not earning enough to get by and we can't survive this we have like woks of work people that are starting to march in the streets out there and we have to do something about that that's the inequality that's destroying our country but i think there is there is something else to death i mean the i would say it's a question americans it is a bit of

a thorny issue but i would say it's not so unproblematic that that business is so so rich and. the reason is that the a democratic society cannot take. can only take so much inequality i mean if received the kind of inequality we see today in the us will not only in the us in europe in in china in in russia or one percent of the population owns a 3rd or 40 percent of the untold wealth that means that this tiny group combines a vast amount of resources. which in a democracy in a healthy democracy or as a means that they have way more ways to to make themselves heard make their cause i think there is there are considerations pair which go beyond saying good for a rich person to be rich and indeed well there are some more fundamental questions on the hill and certainly there are super rich people who want to contribute more

to society they can take our money and look here on my laptop super rich cool for higher taxes on wealthy to pay for covert $19.00 recovery millionaires for humanity millionaires want to wealth tax to that same response i had a conversation today and now i want you to meet the founder of mean ass for humanity making the point about what can be done if you have huge wealth join the club a pandemic have a listen the millions ask our governments to rise texas and people like us we are talking about a permanent world sex of our around one percent of the world's biggest fortunes as we continue to face the impact of the covert 19 crisis in leg a fun thing for all this d.g.'s we merely have a critical role to play in healing our world specially climate change and extreme

poverty is out of control. we have definitely seen the rich get richer and the poor getting poorer with the last 3 decades. this will make an unsafe will for future generations that's why we do this no media for our schools our government's police checks us so i want to be clear here about what we're talking about this is not regular tax this is a wealth tax allison define a wealth tax. so it's very different from an income tax that is what we have in america right now and only a few european countries even have a well tax right now which is you're actually talking taxing the stock of well rather than the amount of income you get each year it would be a tax on your bank account or your brokerage account and it would so it is that is a very different kind of tax and it is also a much more difficult tax to collect because unlike income taxes we don't actually

have good data what well people have what they owe and especially very rich people who keep a lot of their assets in private companies that are very hard to value are things like are or overseas property so it is fundamentally a very different income taxes are very easy to collect so we've got great data on income you know your employer reports how much they paid you the i.r.s. knows that you know you can tax that but wealth is fundamentally very different as in economics as well so it's a very different incentives and so i said creates a very different economic model marshall book code tax the rich how do you tax the rich what do you propose will we do propose something like a wealth tax look at mr davis again for example you might have no income at all he's the richest person in the world and so income tax yack wealth tax is hard to hard to administer and sure that's true but we do it here in united states we have a state taxes and that's essentially

a wealth tax that's tax once per each person we also have more than half of our people in our country are paying a wealth tax because middle class homeowners here in united states pay real estate taxes and almost all of their wealth is their home so i think we're asking that we have wealthy people like these billionaires yes some of whose wealth is hard to measure and some of which isn't pay the same kind of tax that most middle class americans been paying for years so much as well i mean so i mean i think it's important and jeff bezos would be paying capital gains taxes that's really so somebody is paying that thing. so i think it's important to understand that. yeah and there's a bunch of money to finish this year when it gets really hot as a degree designing it because it hit here's the thing so are we talking noise then are you talking about just close closing the loopholes which i don't think is even possible once one has closed i never want to open this. it's not

a loophole people like investors like me or like just a social nationalist i mean i have i don't know $1000000.00 worth of stock in amazon that's great but we pay taxes at tax brackets of 0 percent 50 percent and 20 percent that's far less than even you pay as a working journalist we need to state laurus about this. we paid out. the loopholes i'm not too worried about about them i mean this is right that the income tax works well because the i.r.s. gets the information on the you are earning we can do something very similar disrespect to well he's recorded i mean financial institutions have had a lot of of these records not everything but a financial wealth we have they don't they will you of real estate them and they are large real estate markets in the in the u.k. the u.s. we do have a lot of that information or could make it available relatively easy the tax haven

issue which roof which we started out and heard about from from tax justice u.k. there are estimates that in the u.s. about 10 percent of the super very very rich keep keep their sense of broad site there is a problem but enforcement can be done i mean money can be traced. to some responses i think you're minimizing the extent of how difficult this is it's true that we do estate taxes but this is a one time thing we do one thing it takes a lot of resources there's a lot of leakage it's very very small out. of the population has. cut ups are so high but also i mean we also understand that animal on the whatever it takes to keep from animals that it takes so we have really a question just a lot of questions or thoughts for you and i'm just going to interrupt because that conversation and asking could go on for a very long time out it would love to get in as well this is fake to they to suggest a noise tax anything over

a 1000000000. thoughts quickly that's we're talking we're talking here in new york in the united states about a wealth tax which like a tiny fraction of our people new york state where i live is considering a wealth tax that would affect a few 100 people and yes it would be hard to administer i don't think the problem is so much cheating and stealing most people are basically honest i think the problem is we don't even attempt to tax the rich people because we don't tax the wealthiest people except on their income and you know you can look at a paycheck of somebody like jeff bezos and he makes less money than you do on an actual paycheck because he has huge amounts of stock in amazon that he owns and he doesn't meet on a paycheck so i'm going to comment to you alison if i might this is i want to interact with you as well if that's ok he's sleeping panda there comes a point where there which no longer make money but take money allison thoughts i don't think that's true i don't think we've proven that the economy is there are

some people we are talking about a large rent that these companies are extracting we're talking often about tech companies that provide services for free so and as i said i don't think we should really give up on sort of we kept acknowledge the fact that it's really hard to value privately held companies like it or not trade on the stock market getting a value that is very typical we are already see a big trend towards companies staying private investors for high end investors certainly wanting to invest in private equity assets that cannot be valued and if we had a well actually i would just increase that incentive even more to some degree it sort of like break the thermometer you don't have a fever if we had a well taxed people would find all sorts of ways of making our wealth look a lot smaller so i guess that would help wealth inequality but at the same time we wouldn't really know the extent of it nearly as much as we do now let me pointing at the head of the i m f who is making a case for what could happen during a global pandemic if the wealthy yeah well if it will join us with a while for having the same. this year next vaccine policy is

economic policy fast the progress in ending the health crisis could at almost 9 trillion dollars to global g.d.p. by 2025 best value for public money in our times but this window of opportunities closing fast what discreate crisis has shown us just how this capable our shared destiny is now we must build on this brother says of common responsibility to foster a fear recovery in the resilient past pandemic world marrs i am wondering if this pandemic has made us think differently about wealth and taxing. and what is possible with a lot of money particularly when we think move faster than we've ever happened for

. i think it certainly made us think differently we have you know something close to a quarter of our people that become unemployed at least part of the time because of the coke virus crisis yet the richest among us to become richer and richer richer and that's we're not saying they're bad people we're not saying amazon is a bad company we're not saying anybody's evil you know they're good people doing good things by writing a valuable service that alison and i both love to shop at amazon but we're just say these people who are making humongous amounts of money and paying less taxes then regular people are in their paychecks at a lower tax rate they need to pay more taxes to reduce inequality somewhat this is an interesting point from some play. this one. can pick up off the point you were going to make as well this says on you change the role of the government is to ensure the worse off in society has access to opportunities to succeed and improve

their lives tax a separate is not the solution stronger institutions are f.a.l. . but i would say it's not an either or and. it's not that what a tax is is it is the government from from providing a good education it's to get around that would say for example and talk about education it's that about states would allow the government to fund these endeavors more easily but i think i'm not i'm not going to vote bigger picture pointed at all the discussion so far we are not touching upon the vaccine than people and they make i think when we talk about the best takes we begin to distinguish between 2 purposes we want a way to fix because we want to fund these things like the recovery or we want to have we want to fund climate change policies or do you really want to have tax because we want to do something about you know quality and the kind of well it

takes as you need for these 2 different approaches are very different. if you like the one morrison proposed one percent that won't do much for really bringing wealth inequality down it would be. sure to raise revenues but we won't really be able to reduce wealth inequality any quarantine meaningfully for that we need a progressive wealth tax which is able to reduce the share of t.v. very richest 1st i just can't understand a $1000000000.00 i mean your only fact that you have a lot of money. no one if everybody pays one percent on whatever it is a matter which has really dollars i would have. you know what is a better tax minister definition of that takes is that the tax rate doesn't change that. expertise well but look at the track record that you go to that's a. 2 brackets is somewhat progressions.

we're actually proposing 3 brackets in the united states. but this is not how we understand to mean that all of that. might sound low but it is a lot bigger than itself the risk free rate is less than one percent which means if you're not investing in risky assets you're paying more in taxes each year then your wealth is bringing in syria well what actually is a 1000000000 there we should be you know makes one percent on their on their billions i mean we know from from from today to their yes but it rates rated and i stepped up that a lot and say where you are paid enough to distribute why is that why some just wonder why is there such a fierce debate about this 1000000 as themselves and saying yes we've got the money we want to help why is there why should people who don't have the money argue about it. here in the united states the people have been told from 40 years ago that old government is evil taxes are evil we must each be independent and do our own thing and not help each other and we simply have to change that philosophy we

have to have the philosophy you know as your previous speaker said that we're kind of all in this together and we're all going to succeed or fail and we can't have a society where there are just a few stream lee works people and lots and lots of poor people you know they tried that in south africa in the 1980 s. that did not end well for the rich people i think we have to have a change and we need some kind of more progressive tax system and be even the wealth tax you proposed 'd as austan said are somewhat progressive and that would be a good thing. alison do you feel that you're on the losing end of this argument all the way to end of the saga meant they're winning at raf yeah we actually mostly agree yeah i think so i mean i definitely also feel strongly we need to find a way to raise more revenue and particularly i think that the way we do it should be progressive i just don't think the well back to the most efficient and best way to do it but i think we do largely agree we need to raise more revenue and that

should be progress. right now i would add that if we really want to do something about the wealth inequality i want takes is a very potent measure in the short term and what i mean by a progressive an effect would be one word the rate goes up so we're person riccio as $3000000.00 pages of one percent and a 1000000000 there pays a much higher rate this is a program that would be a progressive tax but i'm going to have to reduce inequality they would have well practice on even sort of not rich. no that's a different question it depends on. where is the threshold where do you start to tax me if you say. 2 or $3000000.00 is not rich that's a different debate but if you know that the top one percent starve the right to get $5000000.00 there's no rich person has to wrap up this show thank you so much i'm just going to show you where you can find a guest so that you can follow them morris is at the patch a 1000000 as you can follow him and you know tax the rich he may well get some

clues as to how to do that oh how to be rich alysha is right here on twitter and also rapaille you can follow on twitter as well thank you love your conversation. take care. when the cold at 19 pandemic hit iran. a filmmaker cut adrift from his crew began documenting life from them up on go international sanctions. and intimate portrayal of isolation and one of the world's least understood countries coronavirus. iran people in power. seems a promising parts out of the pandemic but implementing the greatest inoculation in

history is testing the global community around the world already a clear gap as the match between rich nations and poor ones when it comes to vaccinating their populations from the geopolitics to the pure economics the misinformation and the latest developments what's going on here is very different 1st comes in the form of the nasal spray special coverage of the corona virus pandemic. it's a very bleak picture for a lot of americans out there white supremacy impacts all of our patients you're putting more money into the hands of some workers taking money out of the hands of other workers and i won't go. as to their camp it becomes us versus them this is the deal about constraining your nuclear program the bottom line the big questions on out is they are.

al jazeera. where after us. war in afghanistan was never meant to be a multi-generational undertaking. the us president joe biden says it's time to end america's for revel war but promises it won't be a hasty exit from afghanistan. hello again peace it'll be here in doha you're watching al-jazeera live from our headquarters the top stories at 5 hours g.m.t. . well.