Categories: Business

Billionaires ask to pay more taxes in Davos

Billionaires ask to pay more taxes in Davos

A group of 205 billionaires and millionaires from several countries signed a petition sent to the leaders present at the World Economic Forum, in Davos, Switzerland, demanding to pay more taxes.

The group, which identifies itself as “The Patriotic Millionaires”, says the world is living in an era of extremes with “increasing poverty and increasing inequality; the rise of anti-democratic nationalism; extreme weather and ecological decline; and deep vulnerabilities in our social systems”.

To combat these pressing challenges, they point to the solution: “You, our global representatives, must tax us, the ultra-rich. And they must start now.”

Coincidentally, the global billionaires’ initiative takes place in the same week that President Luiz Inacio Lula da Silva gave a speech to trade unionists at the Planalto Palace saying that “the rich will pay more taxes” in Brazil.

According to the president, it is necessary to implement a tax reform in the country, reversing the logic of taxes.

“We are going to reduce (the collection of taxes) for the poor and increase for the rich”, said Lula.

The billionaires who signed the Davos petition said raising taxes on them will help “uphold democracy and build cooperation to build fairer economies”.

Most of these super-rich live in the United States and the United Kingdom. Among them are Disney heiress Abigail Disney and actor Mark Ruffalo.

No super-rich Brazilian signed the letter.

Source: CNN Brasil