Disney heiress Abigail Disney and Hollywood actor Mark Ruffalo are among a group of millionaires and billionaires demanding more wealth taxes in order to address financial inequality.
The group of 205 ultra-rich individuals addressed a letter to world leaders and business leaders at the World Economic Forum, held in Davos, Switzerland.
The letter, titled ‘The Cost of Extreme Wealth‘, addresses the issues of rising poverty and widening wealth inequality. “In the first two years of the pandemic, the richest 10 men in the world doubled their wealth while 99 percent of people saw their incomes fall,” it states.
“The solution is plain for all to see. You, our global representatives, have to tax us, the ultra rich, and you have to start now.
“There’s only so much stress any society can take, only so many times mothers and fathers will watch their children go hungry while the ultra rich contemplate their growing wealth.”
The call to action comes as new report by Oxfam shows that world’s richest 1 per cent amassed nearly two-thirds of all new wealth worth $42 trillion created since 2020.
The report says that a tax of up to 5 per cent on the world’s multi-millionaires and billionaires would be enough to lift two billion people out of poverty.
