And so it begins: Taxes in the world¡¯s wealthiest countries are rising. Inevitable perhaps given the unprecedented COVID-19-era debt surge and, according to some investors, even a good thing if it helps close wealth gaps that the pandemic exacerbated.
Tax rises grabbed headlines recently when Britain, last year¡¯s biggest major borrower relative to gross domestic product (GDP), upped taxes on workers and employers, potentially raising 12 billion pounds ($17 billion) a year.
U.S. markets are edgy too after Democrats proposed raising tax rates on companies and those with annual incomes above $400,000.
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