Millionaires ask to pay more tax

The image is from the same source.

There is an image caption.

The Disney heiress was one of the signers.

A group of more than 100 of the world's richest people have called on governments to make them pay more tax.

The Patriotic Millionaires said that the ultra-wealthy were not being forced to pay their share of the economic recovery from the coronaviruses.

They said in an open letter that the current tax system is not fair.

The Disney heirs were signed by Nick Hanauer.

Mr Hanauer is an early investor in Amazon.

Most of us can say that the world has gone through an immense amount of suffering in the last two years, but we have actually seen our wealth rise, yet few if any of us can honestly say that we pay our fair share in taxes.

The forum is being held in Covid rather than in its normal home at the World Economic Forum, which according to the charity, has made the world's wealthiest far richer and has led to more people living in poverty.

The world's 10 richest men have more than doubled their collective fortunes since March 2020, according to the report.

The number of millionaires increased by 5 million in 2020 to a total of 56.1 million.

According to the UK branch of Patriotic Millionaires, the Fight Inequality Alliance, the Institute for Policy Studies, and itself found a wealth tax of 2% annually for those with more than $5m, 3% for people with more than $50m, and 5% for billionaires.

The image is from Patriotic Millionaires.

There is an image caption.

McGough said it's time to correct the wrongs.

The group claimed that taxing the UK's wealthiest 119,000 people would raise over forty billion dollars a year.

They suggested that the funds could be used to eliminate planned National Insurance tax rises to fund social care in England, pay for the salaries of 50,000 nurses and increase Universal Credit.

It said that 2.52tn could lift 2.3 billion people out of poverty and make enough vaccines for the world.

"For all our well-being - rich and poor alike - it's time we right the wrongs of an unfair world," said McGough. It's time to tax the rich.

Ms McGough said that the government cannot be trusted at a time when living will cost the average household a further £1,200 a year.

If they do anything in the next few months, they should tax the rich instead of raising National Insurance.

Business and political leaders are not going to find the answer in a private forum, according to the open letter.

Money.
There is a coronaviruses epidemic.