More than 200 millionaires — many of them American — have presented a manifesto to the World Economic Forum in Davos, Switzerland, to “tax the ultra-rich” — including themselves.
You can reach us by calling issued in an open letter Wednesday entitled “The Cost of Extreme Wealth,” Just like the U.S. hit its $34.1 trillion debt limit.
The U.S. Congressional Budget Office has linked the massive tax cuts granted during the Trump administration — mostly benefiting the wealthy and corporations — to a $1 trillion deficit in 2020 alone. Republicans talk now about cutting Social Security and Medicare, but not increasing taxes for the rich.
“Tax the ultra rich and do it now,” The letter was ordered to be sent to Davos Forum by the British and American Patriotic Millionaires organizations, TaxMeNow Millionaires for Humanity.
Abigail Disney is a wealth heir. Davos As a statement “farce” You have failed to deal with the issue.
“Extreme wealth is eating our world alive. It is undermining our democracies, destabilizing our economies, and destroying our climate,” She added. “But for all their talk about solving the world’s problems, the attendees of Davos refuse to discuss the only thing that can make a real impact — taxing the rich.”
The wealthy should be taxed “simple, common-sense economics,” “The letter.” “It is an investment in our common good and a better future that we all deserve, and as millionaires we want to make that investment.”
It “history of the last five decades is a story of wealth flowing nowhere but upwards,” Notification of the note. “In the last few years, this trend has greatly accelerated. In the first two years of the pandemic, the richest 10 men in the world doubled their wealth while 99% of people saw their incomes fall.”
Oxfam reported Monday that the world’s richest 1% accrued nearly two-thirds of all new global wealth created since 2020. The Oxfam representative mocked it Davos Interview with Voice of America: “festival of wealth.”
This is the current “lack of action” By the at Davos It is “gravely concerning,” “The letter.”
“A meeting of the ‘global elite’ in Davos to discuss ‘Cooperation in a Fragmented World’ is pointless if you aren’t challenging the root cause of division,” It was added.
The economic forum did not immediately respond.