100+ ULTRA-RICH PEOPLE WARN FELLOW ELITES ABOUT INCREASING INEQUITY IN THE WORLD
A group of more than 100 millionaires and billionaires on Wednesday presented fellow members of the global economic elite with a stark choice: “It’s taxes or pitchforks.”
The open letter was published amid the corporate-dominated virtual Davos summit.
The 102 signatories included such prominent figures as Disney heiress Abigail Disney and venture capitalist Nick Hanauer.
It warned that “history paints a pretty bleak picture of what the endgame of extremely unequal societies looks like.”
“For all our well-being—rich and poor alike—it’s time to confront inequality and choose to tax the rich,” it reads.
The letter was released hours after an analysis showed that a modest annual wealth tax targeting the world’s millionaires and billionaires would raise $2.52 trillion dollars a year.
It would be enough to lift billions of people out of poverty and vaccinate the world against Covid-19.
The analysis was conducted by the Fight Inequality Alliance, the Institute for Policy Studies, Oxfam, and Patriotic Millionaires.
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