Though it remains politically out of reach, it’s well worth thinking about a global wealth tax. Global tax agreements, after all, already have precedent in existing treaties. But, more importantly, there are critical insights to be gleaned in conceiving and designing such a tax.

Those insights are explored in a new report from coauthors Omar Ocampo and Chuck Collins of the Institute for Policy Studies in collaboration with Oxfam, Patriotic Millionaires, and the Fight Inequality Alliance. Among other things, Taxing Extreme Wealth offers a detailed analysis of the world’s billionaires and multimillionaires — revealing both the breathtaking extent of their wealth and what kinds of initiatives could be funded with a global wealth tax.

Jacobin’s Luke Savage sat down with Ocampo and Collins to discuss the report and its findings.