The Good Society

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,” they said in an open letter to world leaders. “This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nations’ economic growth. But it will turn extreme and unproductive private wealth into an investment for our common democratic future.”

The rich signatories from 17 countries include the Disney heir Abigail Disney; Brian Cox, who played fictional billionaire Logan Roy in Succession; actor and screenwriter Simon Pegg; and Valerie Rockefeller, an heir to the US dynasty.

In a letter titled Proud to Pay, which they will attempt to deliver to world leaders gathered in Davos in Switzerland, the group said “inequality has reached a tipping point, and its cost to our economic, societal and ecological stability risk is severe – and growing every day. In short, we need action now”.

 One of the signatories, Cox, an Emmy and Golden Globe-winning actor, said: “We are living in a second ‘Gilded Age’. Billionaires are wielding their extreme wealth to accumulate political power and influence, simultaneously undermining democracy and the global economy. It’s long past time to act. If our elected officials refuse to address this concentration of money and power, the consequences will be dire.”

  From the Guardian, January 17, 2024