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Are Billionaires ready to pay taxes?


				19.01.2022
						A group called "Patriotic Millionaires" called for the introduction of a global wealth tax at the World Economic Forum held in Davos in Switzerland.
In an open letter, they stated: "Most of us can say that although the world has experienced a huge amount of suffering over the past two years, we have seen an increase in our well-being during the pandemic, however, few of us can honestly say that we pay our fair share of taxes."

Among the signatories of the letter are Disney heir Abigail Disney and venture capitalist Nick Hanauer.
According to a study conducted by the Patriotic Millionaires in collaboration with Oxfam and other non-profit organizations, a progressive wealth tax starting at 2% for those with more than $5 million and increasing to 5% for billionaires can raise $2.52 trillion, which is enough globally to lift out of poverty 2.3 billion people and guarantee health and social protection for people living in countries with a low standard of living.

Since the beginning of the pandemic, the fortune of billionaires has increased by 4.35 trillion euros, with a new billionaire appearing every 26 hours.
"Central banks poured trillions of euros into financial markets to save the economy, but most of these funds ended up in the pockets of billionaires," said Oxfam Ireland CEO Jim Clarken.

Link to source: https://www.intaxwetrust.org/

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