Zurich: A group of more than 100 billionaires and millionaires has issued a petition to political and business leaders asking the World Economic Forum to virtually: pay more taxes.
The group, which calls itself “patriotic millionaires”, said the ultra-wealthy were not currently being forced by the pandemic to pay their share of the global economic recovery.
“As millionaires, we know that the current tax system is not fair. Most of us can say that, while the world has gone through a lot of suffering in the last two years, we have indeed seen our wealth increase during the pandemic – yet few if any of us can honestly say so. . We pay our fair share in taxes,” the signatories said in an open letter published on the occasion of the World Economic Forum’s “virtual Davos”, which began on January 17.
Reuters last year reported a massive increase in the wealth of billionaires in 2020, as the world went into lockdown and the global economy suffered its worst recession since World War II, prompting the millionaire group to call for higher taxes. inspired to. inspired to. inspired to.
While it prompted more than 130 countries to agree a deal to ensure that large companies pay a global minimum tax rate of 15%, aimed at making it harder for them to avoid taxation, the millionaires said The rich still need to contribute more.
During the two years of the pandemic, the wealth of the world’s 10 richest individuals has risen to $1.5 trillion or $15,000 a second – a study conducted by Oxfam revealed this week.
‘Part of the problem’
In the letter, signatories, including Disney successor Abigail Disney and venture capitalist Nick Hanauer, called on Davos’ participants for a week of online power-broking and talks: “You won’t find answers in a private forum… you’re part of it.” ” Trouble.” ,
A spokesman for the World Economic Forum said that paying a fair share of taxes was one of the forum’s principles, and that the wealth tax – as it exists in Switzerland, where the organization is located – could be a good model to deploy elsewhere. . Is. Is.
In most countries outside a handful of countries in Europe and some more recent additions in South America, the wealthy do not have to pay annual taxes on assets such as real estate, stocks or artwork, as they are taxed only when the property is sold. She goes .
According to a study conducted by Patriotic Millionaires in conjunction with Oxfam and other nonprofits, a progressive wealth tax starting at 2% for people over $5 million and rising to 5% for billionaires to 2.52 trillion . Dollar gone. can mobilize, which is enough to lift 2.3 globally. Lifted Arab people out of poverty and guaranteed health care and social security for individuals living in low-income countries.
The World Bank published an article in 2021 urging countries to consider a wealth tax to help reduce inequality, replenish state coffers depleted by COVID-19 relief schemes and gain social confidence Was.
However, outside Argentina and Colombia, no new property tax scheme has been introduced since the start of the pandemic.
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