Shulou(Shulou.com)11/24 Report--

On January 19, more than 200 millionaires urged elites attending the World Economic Forum to "address extreme wealth inequality" and "tax the super-rich" to help ease the cost of living pressure on ordinary families.

Tuyuan Pexels, the millionaires from a group known as The Patriotic Millionaires, who call themselves "a group of high net worth Americans who are deeply concerned about extreme wealth inequality in the United States", called for similar measures during last year's campaign.

In an open letter titled "extreme Wealth cost" on Wednesday, local time, The Patriotic Millionaires called: "tax increases on the super-rich, levy now." The open letter is also supported by PMUK, Tax Me Now and Millionaires for Humanity.

"this is very simple economic common sense, and it is an investment in our common interests and a better future," the letter said. As millionaires, we also want to make this kind of investment. "

The letter warned that an "extreme era" was coming, marked by increased poverty, wealth inequality, anti-democratic nationalism, deteriorating ecological environment and reduced opportunities for ordinary workers to earn living wages.

In the absence of concrete measures, the letter questioned the mission of the World Economic Forum: "the current lack of action is deeply worrying. There is no point in discussing 'cooperation in a fragmented world' at the 'Global Elite' meeting in Davos if you do not challenge the root causes of the division. Defending democracy and building cooperation requires action now to build a fairer economic model, an issue that cannot be left to future generations. "

The letter was signed by 206people from 12 countries, including Abigail Disney, heiress of the multimedia entertainment empire Disney, and actor Mark Ruffalo.

"extreme wealth inequality is engulfing our world," said Abigail Disney. "it is undermining our democracy, our economic stability and our climate. Although Davos attendees are talking about solving the world's problems, they refuse to discuss the only thing that can have a real impact: raising taxes on the rich."

"I attended Davos and sat in the same room with many of the richest and most powerful people in the world and listened to them talk about how to change the world," she criticized. "but in my experience, Davos is a farce. Before Davos attendees started talking about taxing the rich, the whole event showed that they were actually seriously out of touch with reality."

A study by The Patriotic Millionaires found that a 2 per cent progressive annual wealth tax on individuals worth more than $5 million, a 3 per cent tax on individuals with a net worth of $50 million and a 5 per cent tax on super-rich people with a net worth of more than $1 billion could help raise more than $1.7 trillion in 2022.

In a recent report, Oxfam said that the richest 1 per cent of the world's wealth had accumulated nearly 2/3 of the world's new wealth in the past two years, with $26 trillion of the $42 trillion created during that period.

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