If a sovereign nation decides to institute a tax on net worth, that's their call.
When a bunch of self-appointed pleasure seekers (see: Rio +20 Ipanema Beach pics) wants to do it, you almost yearn for the simple corruption of the Oil-for-Food programme.
From AFP via Yahoo Canada:
UN calls for 'billionaires tax' to help world's poor
The United Nations on Thursday called for a tax on billionaires to help raise more than $400 billion a year for poor countries.An annual lump sum payment by the super-rich is one of a host of measures including a tax on carbon dioxide emissions, currency exchanges or financial transactions proposed in a UN report that accuses wealthy nations of breaking promises to step up aid for the less fortunate.
The annual World Economic and Social Survey says it is critical to find new ways to help the world's poor as pledged cash fails to flow.
The report estimates that the number of people around the globe worth at least $1 billion rose to 1,226 in 2012.
There are an estimated 425 billionaires in the United States, 315 in the Asia-Pacific region, 310 in Europe, 90 in other North and South American countries and 86 in Africa and the Middle East.
Together they own an estimated $4.6 trillion so a one percent tax on their wealth would raise more than $46 billion, according to the report.
"Would this hurt them?" it questioned.
"The 'average' billionaire would own $3.7 billion after paying the tax. If that billionaire spent $1,000 per day, it would take him or her over 10,000 years to spend all his or her wealth," the report says....MORE