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- cross-posted to:
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- world
Abigail Disney, Brian Cox and Valerie Rockefeller among signatories of open letter condemning inequality
More than 250 billionaires and millionaires are demanding that the political elite meeting for the World Economic Forum in Davos introduce wealth taxes to help pay for better public services around the world.
“Our request is simple: we ask you to tax us, the very richest in society,” the wealthy people said in an open letter to world leaders. “This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nations’ economic growth. But it will turn extreme and unproductive private wealth into an investment for our common democratic future.”
The rich signatories from 17 countries include Disney heir Abigail Disney; Brian Cox who played fictional billionaire Logan Roy in Succession; actor and screenwriter Simon Pegg; and Valerie Rockefeller , an heir to the US dynasty.
It looks like they really want this; however, even they understand that people will circumvent the laws and move money to more “favorable” countries, if the world doesn’t take a coordinated approach.
The politicians have been setting up the game to appease the rich for generations. It won’t be undone that easily.
Need something like this:
https://en.m.wikipedia.org/wiki/Global_minimum_corporate_tax_rate
But for individual wealth/billionaires
And when action happens, I will be behind 100%. Need to read the article, is there even a plan? Other than “hey politicians, do this”?
its really not that hard. Even one country can start it. If a company does business in a country it must pay the corporate rate but it can deduct any corporate tax it pays in other countries. So if it pays the same or more already it pays no additional but if it pays little it has to pay the difference. So they can move the money whereever they want but the only way to avoid it is to not do business in the country and thus open it up for local opportunities.