Saturday , 20 July 2024
Home Global Economy “Tax us now” – Rich want to pay for health
Global Economy

“Tax us now” – Rich want to pay for health

A group of more than 100 millionaires from nine countries, together with international organizations, is calling for a wealth tax for the richest. “Tax us, the rich, now,” the groups Patriotic Millionaires, Millionaires for Humanity and Tax Me Now urged governments, according to Oxfam.

“As millionaires, we know that the current tax system is not fair,” says an open letter to the World Economic Forum (January 17-21) in Davos. According to Oxfam, the wealth of the ten richest men in the world has doubled since the beginning of the pandemic – from around 613 billion euros to a good 1.3 trillion euros. In the same period, the pandemic has plunged 160 million people into poverty.

A wealth tax of 2 percent a year for millionaires and 5 percent for billionaires could bring in $2.52 trillion a year worldwide, according to Oxfam. This would enable significant progress in poverty reduction, equitable distribution of Covid-19 vaccines and general health care.

The “Patriotic Millionaires” publish their letter on the World Economic Forum’s “Davos Agenda” series of events. The signatories include US film producer and heiress Abigail Disney, Danish-Iranian entrepreneur Djaffar Shalchi, American entrepreneur and venture capitalist Nick Hanauer, and Austrian student and BASF heiress Marlene Engelhorn.

see below with dpa

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Global Economy

Spotlight on 2023: S&P 500 and the Significance of the 4400 Level

In our past exploration of the financial landscape of 2023, we delved...

Global Economy

AI and Data Analytics Drive Efficiency in Money Laundering Detection

BIS Innovation Hub Turns to Tech for Money Laundering Detection The BIS...

Global Economy

Russell 2000 Gains Momentum as Tech Stocks Outperform Value

Tech stocks have dominated the equity markets in recent months, surpassing value...

Global Economy

Crypto Exchange Bybit Announces Exit from Canadian Market Amid Regulatory Changes

Regulatory Shifts Prompt Bybit's Strategic Withdrawal from Canadian Crypto Market