In a letter released on Tuesday (18) at a virtual meeting of the World Economic Forum with leaders and politicians, some millionaires urged countries to force them to pay more taxes.
The document was signed by the group “patriot millionaires” and stated that the world’s ultra-rich need to contribute more so that the tax system can be more egalitarian.
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“As millionaires, we know that the current tax system is not fair. Most of us can say that while the world has gone through an immense burden of suffering in the last couple of years, we have actually seen our fortunes grow during the pandemic — few if any of us can honestly say that we have paid our fair share in taxes.” said the signatories of the open letter published during the forum dubbed “Virtual Davos”, according to Reuters.
Among the signatories is Disney heiress Abgail Disney.
Earlier this week, a survey by Oxfam was published saying that the fortunes of the 10 richest people in the world increased by $1.5 trillion in the pandemic, while more than 99% of people saw their income decrease.
Furthermore, another study by “patriot millionaires” in conjunction with Oxfam and other NGOs indicates that a progressive tax on wealth, starting at 2% for those with more than US$5 million and reaching 5% for billionaires could raise US$2.52 trillion, enough to lift 2.3 billion people out of poverty and guarantee health and social protection to the vulnerable in poor countries.
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