Dozens of millionaires from the U.S. and 6 different nations have a message for his or her governments: “Tax us. Tax us. Tax us.”
Calling themselves the Millionaires for Humanity, greater than 80 rich people — together with Walt Disney Co. heiress Abigail Disney, former BlackRock Inc. managing director Morris Pearl, and Danish-Iranian entrepreneur Djaffar Shalchi — are petitioning for greater taxes on the wealthy to assist pay for the billions in new authorities applications made mandatory by the Covid-19 pandemic.
“At this time, we, the undersigned millionaires and billionaires, ask our governments to lift taxes on folks like us. Instantly. Considerably. Completely,” in keeping with the open letter. “We’re not restocking grocery retailer cabinets or delivering meals door to door. However we do have cash, numerous it. Cash that’s desperately wanted now.”
Their missive, which comes forward of this weekend’s Group of 20 assembly, isn’t the primary such attraction. Even earlier than the pandemic upended public funds, a cohort of 200 or so rich folks calling themselves the Patriotic Millionaires — a gaggle that embody Disney and Pearl — have been urgent for a extra progressive tax system.
Of their open letter, the Millionaires for Humanity warn that the outbreak might push hundreds of thousands extra folks into poverty and pressure already insufficient health-care methods, staffed largely by underpaid ladies. Charity isn’t the reply.
“Authorities leaders should take the duty for elevating the funds we’d like and spending them pretty,” in keeping with the letter. “We owe an enormous debt to the folks engaged on the entrance strains of this world battle. Most important staff are grossly underpaid for the burden they carry.”