February 1, 2023

Taylor Daily Press

Complete News World

The super rich are calling on governments to impose a wealth tax

The multimillionaire group calls itself the Anti-Inequality Coalition. According to them, the number of the super-rich has increased by more than 50 percent in the past decade. In a petition they are filing on Wednesday, the signatories call wealth “one of the world’s most ignored forms of extremism.”

Wealth accumulation has been going on at the top for fifty years and the trend has accelerated dramatically in recent years, according to millionaires. Earlier this week, it appeared that of the €39,000 billion in new wealth created in the past two years, Two-thirds of it went to the richest 1% of the world’s population.

“The solution is clear for all to see. You, our global representatives, must tax us, we are extremely rich, and must start now.”

The signed millionaires come from the technology, food, and energy industries, along with investors, heirs, and celebrities like Hulk actor Mark Ruffalo and filmmaker and documentarian Abby Disney.

wealth tax 2%

According to the organizations behind the petition, including development aid organization Oxfam and National Millionaires, the number of people with a net worth of at least $5 million has more than halved in the past 10 years. The same goes for people who have 50 million or more. The number of billionaires has multiplied as well as their fortunes.

In the petition, the millionaires proposed a global annual wealth tax of 2 percent on 5 million or more, 3 percent on 50 million or more, and 5 percent for billionaires. It could generate $1.7 trillion.

Signatories come mainly from the United States and the United Kingdom. According to the authors, greater taxation of the super-rich could count on the support of economists. According to the organization, a poll of 135 economists from 40 countries showed that 71 percent support the idea of ​​imposing higher taxes on the rich in their countries over the next five years.

“If we care about our democracy, our communities and the planet, this is bound to happen,” says the daughter of an Austrian millionaire, Marlene Engelhorn, co-founder of Taxmenow. However, our policy makers do not have the common sense to listen, or they do not feel the need. The big question is: what or who is stopping them?

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