Paris: More than 100 millionaires make unusual requests on Wednesday: “our current tax”.
Their appeal came as a research supported by rich individuals and non-profit organizations found that wealth tax on the richest people in the world could collect $ 2.52 trillion per year – enough to pay Covid vaccines for everyone and attract 2.3 billion people from poverty.
In an open letter to the Davos Online World Economic Forum meeting, 102 millionaires, including Disney Heiress Abigail Disney, said the current tax system was unfair and “intentionally designed to make rich people”.
“The world – every country in it – must demand rich people to pay fair shares,” the letter said.
“Our taxes, rich people, and our taxes now.” PLEA they took part in the report by Global Charity Oxfam this week which said that 10 richest people in the world doubled their wealth to $ 1.5 trillion over the first two years of temporary pandemics inequality and poverty.
“As a millionaire, we know that the current tax system is unfair,” said the letter circulated by groups including patriotic millionaires, millionaires for humanity, my current tax, and Oxfam.
“Most of us can say that, while the world has gone through a large number of suffering in the past two years, we have actually seen our wealth up during a pandemic – but little if there are those who can say that we pay us a fair share in taxes .
“The signatories include rich men and women from the United States, Canada, Germany, England, Denmark, Norway, Austria, the Netherlands and Iran.
Patriotic millionaires take part in a wealth tax study with non-profit networks and social movements, including fighting for inequality alliances, Oxfam and Institute for US-based institutional policy studies.
In addition to funding vaccines throughout the world and relieving poverty, taxes will be sufficient to provide universal health care and social protection to 3.6 billion people in low and medium-sized income countries, the group said.
Taxes will be set at two percent for those who are worth more than $ 5 million, three percent with more than $ 50 million and five percent with more than $ 1 billion.
The group said a more steep progressive tax, which includes 10 percent levy on billionaires, will collect $ 3.62 trillion a year.
The actual taxation level is the country specific.
Jenny Ricks, the Global Convenor Fight Ineolution Alliance, told AFP the group choosing a lower progressive tax, namely on “realistic side”.
The plan to impose a wealth tax of around 700 American billionaires floated by Democrats at the US Congress last year, but was cut from President Joe Biden’s program and the $ 1.75 trillion social climate change program.
Wednesday’s tax proposal was made as a global government and business leaders participated in the meeting of Davos Virtual this week.
In-people meetings were postponed because of the spread of Omicron variants.
“No one has maintained a non-stop system expanding the richest wealth in the world while condemning billions for poverty that is easily prevented,” Chairman of Morris Pearl’s patriotic millionaire, former Managing Director of Blackrock Investment, said in a statement.
“We need deep and systemic changes, and it starts with a tax rich like me,” Morris said.