(Dan Tri) – A group of more than 100 billionaires and millionaires have called on political and business leaders to take action so that they and the world’s super-rich in general pay more taxes.
The world’s richest billionaires (Illustration: Reuters).
Reuters reported that the `Patriotic Millionaires` (PM) group of 100 billionaires and millionaires issued a call to action to leaders participating in this year’s World Economic Forum (WEF) so that they pay more taxes.
Accordingly, the above group commented that the world’s super-rich are currently not forced to contribute to global economic recovery efforts after the Covid-19 pandemic.
`As millionaires, we understand the current tax system is unfair. Most of us can see that while the world has gone through immense suffering over the past two years, our wealth has increased
According to Reuters, despite the recent pandemic, the assets of the global super-rich still increased strongly.
While more than 130 countries have agreed to a deal forcing big companies to pay a global minimum tax rate of 15%, millionaires say the super-rich still need to contribute more.
The open letter’s signatories, including Disney entertainment heiress Abigail Disney and venture capitalist Nick Hanauer, called on political and business leaders to do more to ensure
A WEF spokesman commented that the property tax structure in Switzerland (where WEF is headquartered) could be a good model for implementation elsewhere.
In most countries, with the exception of a few in Europe and some South American countries, the rich do not pay annual taxes on assets such as real estate, stocks or works of art, because they are
According to a study conducted by PMÂ with Oxfam and other non-profit organizations, if a 2% tax was levied on those with over $5 million and increased to 5% for billionaires, the resulting
The World Bank in 2021 released a report calling on countries to consider a wealth tax to help reduce inequality, replenishing government budgets depleted by Covid-19 relief programs.
