102 millionaires in the United States and Europe ask to be taxed more in an open letter
- 102 millionaires said the global tax system was unfair and they should be taxed more.
- They said most of them have seen their wealth increase during the pandemic and are not paying enough tax.
- They said the global tax system was “designed to make the rich richer” and called for an overhaul.
One hundred and two millionaires across the United States and Europe have signed an open letter calling the current tax system unfair and asking to be taxed more heavily.
The letter, addressed to attendees of this year’s virtual World Economic Forum meeting, said taxing the rich was necessary to bring trust and fairness to the world. The meeting, which usually takes place in Davos, Switzerland, is an invitation-only annual event attended by the world’s richest and most powerful people.
“As millionaires, we know that the current tax system is not fair,” the letter reads.
“Most of us can say that while the world has gone through immense suffering over the past two years, we have actually seen our wealth increase during the pandemic – but few, if any, of us can honestly say that we pay our fair share of taxes.”
The letter came after Oxfam calculated that the world’s 10 richest men had more than doubled their wealth during the pandemic.
“This injustice entrenched in the foundations of the international tax system has created a colossal lack of trust between the peoples of the world and the elites who are the architects of this system,” the open letter states.
He called for “a complete overhaul of a system that until now has been deliberately designed to enrich the rich.”
Signatories include Disney heiress Abigail Disney.
“To put it simply, restoring trust requires taxing the rich. The world – every country in it – must demand that the rich pay their fair share,” the letter reads.
“Tax us, the rich, and tax us now.”