He Davos World Economic Forum President Javier Milei participated. In parallel, another issue arose, since a group of more than 250 businessmen and billionaires announced an initiative in which they advocate payment of more wealth tax, since they consider that obtaining these resources arising from idle accumulated private wealth will allow “an investment for our common democratic future” and thus improve people’s quality of life.
This is the proposal “Proud to pay more” (“Proud to pay more” in Spanish) that were announced during the 54th edition of the Davos Forum. The idea of the world’s super-rich is for politicians to introduce more taxes on wealth.
Davos Forum: businessmen ask to pay more wealth tax
The initiative is led by billionaires from more than 17 countries, who demand an investment in public services with the aim of making them of higher quality. “This will turn extreme and unproductive private wealth into an investment in our common democratic future.”they wrote in a letter this Wednesday.
More than 250 billionaires and millionaires are demanding that the political elite gathered in Davos for the World Economic Forum introduce wealth taxes to help pay for better public services around the world.
The manifesto “Proud to pay more” added important signatures such as the heiress of the Disney empire, Abigail Disney, the actors Brian Cox and Simon Pegg, the Australian artist Bruce Lloyd, and the British politician and judge Robert Berkeley, among others.
“Our request is simple: we ask you to tax us, the richest in society,” the rich say in an open letter to world leaders. “This will not fundamentally alter our standard of living, deprive our children, or harm the economic growth of our nations. But it will turn extreme and unproductive private wealth into an investment in our common democratic future.”
“We are also the people who benefit the most from the status quo,” they say in a letter titled Proud to Pay, which they will try to deliver on Wednesday to world leaders meeting in Davos (Switzerland): “But inequality has reached a tipping point, and its cost to our economic, social and ecological stability is serious, and increases every day. In short, we need to act now.”
Wealth tax: 74% of the rich support the petition
Patriotic Millionaires, a group of American millionaires concerned about the instability and economic inequality in their country, have conducted a global survey to analyze the thinking of millionaires. For it They asked 2,300 people with capital exceeding one million dollars and, according to the results, they concluded that 74% supported increasing taxes on their wealth.
58% supported introducing a 2% wealth tax on people with assets greater than $10 million, and 54% thought extreme wealth was a threat to democracy.
In the report “Beyond GDP: who grows and at what price?”prepared by the Futuro Policy Lab think tank and the Spanish Institute of Analysts, highlights the importance of inequality and climate change as factors that have exacerbated instability in the world.
He GDP, the star metric of the current economic system, can be a trap to determine the economic development of a country, they defend in the study. If between 1946 and 1980 in the United States, all incomes grew close to the average (2%), in the following four decades an unbridgeable gap opened. The income increase for the poorest 50% was less than 1%, while the richest percentile in the country increased its income by 3%.
Source: Ambito
