A group of millionaires, known as “Patriotic Millionaires”, protested against the World Economic Forum
gathering of the business and political elite in Davos, Switzerland.
The Patriotic Millionaires
movement started in 2010 with only a handful of signatures. It is now a global organization with more
than 200 members.
The Patriotic Millionaires at Davos asked the world leaders to
immediately introduce fresh taxes on the rich. “We can afford to pay more taxes. The cost of recovery cannot
fall on the poor, the young or on those with lower incomes”
Oxfam is a British founded confederation of 21 independent charitable organizations focusing on the alleviation of global poverty. It recently said that increasing inequality will probably push 263 million more people into extreme poverty in 2022, reversing decades of progress.
Phil White, a former business consultant and
member of Patriotic Millionaires UK, said: “While the rest of the world is
collapsing under an economic crisis, billionaires and world leaders meet in
Davos. It’s shocking that our political leaders listen to those who have the
most but know the least about the economic impact of this crisis. The only way
out is to tax the richest. Tax us now. Tax the delegates attending Davos 2022.”
Marlene Engelhorn, a co-founder of Patriotic Millionaires at the protest, said the only solution to “gross
inequality” was to ask governments “tax me, tax the rich”.
Engelhorn is an heir to the founders of the
BASF chemical company. She co-founded
the #taxmenow initiative. She said: “As someone who has enjoyed the benefits of
wealth my whole life, I cannot continue to sit back and wait for someone,
somewhere, to do something.
“Our
governments don’t do anything to fight gross inequality. Instead, they meet
behind closed doors in Davos. Another
quarter of a billion people will be pushed into extreme poverty this year. It’s
time to rebalance the world. It’s time to tax the rich.”
A modest annual wealth tax on the world’s millionaires and billionaires
could generate $2.52 trillion a year. This would be enough to, among other things,
lift 2.3 billion people out of poverty
The theme of this year’s WEF meeting in Davos
– the first-in-person gathering in more than two years, because of the pandemic
– is “Working together, restoring trust”.
From The Guardian (edited)
