‘Tax us substantially’: Over 80 global millionaires’ solution for tackling Covid-19
The millionaires, mostly based in the United States and the United Kingdom, say in the open letter that raising the taxes will adequately fund health systems, schools, and security through a permanent tax increase on the wealthiest people on the planet, ‘people like us’.Updated: Jul 13, 2020 16:44 IST
Stating that humanity is more important than money, over 80 millionaires on Monday called on governments to impose taxes on them substantially to raise funds to deal with the coronavirus pandemic, since charity alone will not resolve the problem.
The millionaires, mostly based in the United States and the United Kingdom, say in the open letter that raising the taxes will adequately fund health systems, schools, and security through a permanent tax increase on the wealthiest people on the planet, ‘people like us’.
They say: “No, we are not the ones caring for the sick in intensive care wards. We are not driving the ambulances that will bring the ill to hospitals. We are not restocking grocery store shelves or delivering food door to door”.
“But we do have money, lots of it. Money that is desperately needed now and will continue to be needed in the years ahead, as our world recovers from this crisis. Today, we, the undersigned millionaires, ask our governments to raise taxes on people like us. Immediately. Substantially. Permanently”.
The signatories include Abigail Disney, Tim Disney and Mary Ford.
Labour leader Keir Starmer has asked the Boris Johnson government to consider imposing wealth tax: “We are saying to the government, look at the idea of a wealth tax, we certainly support the principle that those with the broadest shoulders should bear the greatest burden.”
The letter goes on to say: “The impact of this crisis will last for decades. It could push half a billion more people into poverty. Hundreds of millions of people will lose their jobs as businesses close, some permanently”.
“Already, there are nearly a billion children out of school, many with no access to the resources they need to continue their learning. And of course the absence of hospital beds, protective masks, and ventilators is a painful, daily reminder of the inadequate investment made in public health systems across the world”.
The millionaires say that a huge debt is owed to the people working on the frontlines of the global battle, adding that most essential workers are grossly underpaid for the burden they carry.
“Our interconnectedness has never been more clear. We must rebalance our world before it is too late. There will not be another chance to get this right. Unlike tens of millions of people around the world, we do not have to worry about losing our jobs, our homes, or our ability to support our families. We are not fighting on the frontlines of this emergency and we are much less likely to be its victims”.
“So please. Tax us. Tax us. Tax us. It is the right choice. It is the only choice. Humanity is more important than our money”, the letter adds.