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. In short, we need action now.”A new poll of the super-rich shows that 74% support higher taxes on wealth to help address the cost of living crisis and improve public services. The polling found that 58% supported the introduction of a 2% wealth tax on people with more than $10m, and that 54% thought that extreme wealth was a threat to democracy. Billionaires are wielding their extreme wealth to accumulate political power and influence, simultaneously undermining democracy and the global economy.

Source: The Guardian January 18, 2024 03:18 UTC