Tax Justice experts believe that government support for business in times of crisis should be more balanced and should not become a source of unjustified enrichment for some companies and their owners. The crisis period can become a good reason for the introduction of more “fair” tax and financial rules.
In particular, during the crisis, activists are offered the following measures:
- Implement a huge (50-75%) excess-profits tax
- Tax wealth: hefty wealth taxes, land value taxes, capital gains taxes, etc.
- Nationalize failing firms: buy forms or their stock cheaply now, take control, clean house, and when market conditions normalize, sell them back, at a market price
- Ban stock buybacks to prevent from market manipulations. Also temporarily curb or ban dividends.
- Ban all new mergers.
- Other measures, including restrictions regarding capital controls, prices controls, beefed-up criminal sanctions, revision of the concept of limited liability and so on.