At the World Economic Forum in Davos, Switzerland, over 250 billionaires and millionaires have united to issue a bold call to world leaders: tax our extreme wealth, reports CNBC.
This group, spanning 17 countries, includes notable figures such as Disney heir Abigail Disney, screenwriter Simon Pegg, and Valerie Rockefeller of the famous U.S. family.
Their message is clear and direct, as they express surprise over the failure of political leaders to address the question of taxing extreme wealth, a topic they have been raising for three years.
A Unanimous Plea for Economic Equity
Their open letter, titled "Proud To Pay More," reflects a shared understanding that taxing the wealthiest individuals will not adversely affect their standard of living or hinder economic growth.
Instead, they view it as a transformative measure to channel private wealth into democratic and societal progress.
This plea comes in the backdrop of an alarming report by Oxfam, highlighting the accelerated wealth accumulation by the richest men globally and the looming possibility of the world's first trillionaire within a decade.
The Intersection of Wealth and Political Influence
The letter's signatories, including actor Brian Cox, Hollywood star Simon Pegg, Disney heiress Abigail Disney, and several top business executives, emphasize the detrimental impact of billionaires using their wealth to garner political power, thereby undermining both democracy and the global economy.
A new poll, conducted by Survation for "Patriotic Millionaires," supports this stance, revealing that a significant portion of the wealthiest in G20 nations favor higher taxes on their income to address the cost-of-living crisis and improve public services.
