Don’t eat the rich! Millionaires around the globe beg governments to increase their taxes

By Charlie Sawyer

Published Jan 21, 2023 at 09:15 AM

Reading time: 2 minutes

40360

In what might be the biggest plot twist of the century, it seems like maybe we shouldn’t eat the rich… Of course, we’re not suggesting anything crazy such as blindly following their lead or ceasing to criticise their humongous greed. However, recent events have shone a light on a group of super-rich elite individuals who’ve demanded governments around the world tax them more in order to combat the rising cost of living crisis. Say what now?

According to The Guardian, a collective of 205 millionaires and billionaires recently called upon global leaders and business executives at the World Economic Forum (WEF) in Davos, Switzerland to urgently introduce wealth taxes to help tackle “extreme inequality.”

Within an open letter entitled The cost of extreme wealth and published on 18 January 2023, the group detailed their genuine frustration with the figures of authority who still refuse to take radical measures to combat the mounting financial crises.

“The current lack of action is gravely concerning. A meeting of the ‘global elite’ in Davos to discuss ‘cooperation in a fragmented world’ is pointless if you aren’t challenging the root cause of division. Defending democracy and building cooperation requires action to build fairer economies right now—it is not a problem that can be left for our children to fix.” The letter added: “Now is the time to tackle extreme wealth; now is the time to tax the ultra-rich.”

The self-proclaimed ‘patriotic millionaires’ continued: “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 cost of action is much cheaper than the cost of inaction—it’s time to get on with the job.”

The cost of living crisis is currently impacting citizens at a frightening rate. According to Sky News, matters could even worsen as we continue into 2023. Think tank Resolution Foundation has warned that households might face a cost of living “groundhog year” with disposable incomes plummeting even further than in 2022 and living standards getting “far worse” before they improve.

But of course, that’s solely UK-based—numerous other nations are also being dramatically affected by increased energy costs and shortage of goods, primarily due to the fallout of the COVID-19 pandemic.

Among the signatures of the open letter were Disney heiress Abigail Disney and Marvel actor Mark Ruffalo—both of whom have been known for their philanthropic acts. Disney, alongside her husband Pierre Hauser, created The Daphne Foundation in 1991, an organisation that funds programmes which locally combat poverty and discrimination in a number of boroughs in New York City.

This isn’t the first time some members of the ultra-rich elite have made efforts to try and persuade governments to tax them more. In fact, in 2021, a group of 30 UK millionaires petitioned Rishi Sunak—the former Chancellor of the Exchequer, and current Prime Minister—to try and convince him to tax them more, stating they could afford it. Naturally, Sunak—who sits on a bed of wealth estimated at approximately £730 million himself—wasn’t so keen on the idea. What a surprise.

Of course, there are also a number of billionaires who’d rather be victim to a scathing TikTok trend than offer to give a genuine slice of their fortune away—Jeff Bezos, we’re talking about you. But still, it’s always slightly heartening to witness some of the most powerful individuals in the world make steps towards re-evaluating the staggering disparities of wealth that exist in society.

Keep On Reading

By Abby Amoakuh

Only at Coachella can you be caught saying the N-word and still perform without question

By Abby Amoakuh

From Darfur to Tigray, conflict-related sexual violence is devastating the lives of young women and girls globally

By Charlie Sawyer

Lawmakers pressure Trump to provide evidence that Venezuelan asylum seeker Andry Hernández Romero is still alive

By Charlie Sawyer

New study confirms Bacterial Vaginosis can be sexually transmitted, backing what women have long suspected

By Abby Amoakuh

Campaigners call for gamers who carry out virtual rape in the metaverse to be charged as real-life sex offenders

By Charlie Sawyer

23 women speak out after UK police urge victims of serial rapist, student Zhenhao Zou, to come forward

By Eliza Frost

The Summer I Turned Pretty season 3 proves we’ll never be over love triangles

By Abby Amoakuh

Aimee Lou Wood urges fans not to copy her teeth as DIY teeth filing trend rises on TikTok

By Abby Amoakuh

Chappell Roan faces backlash from TikTok moms for likening motherhood to hell

By Eliza Frost

Netflix’s new Trainwreck documentary exposes the rise and scandalous fall of American Apparel

By Eliza Frost

Everyone’s posing like Nicki Minaj: the TikTok trend explained 

By Abby Amoakuh

Everything there is to know about the third and final season of The Summer I Turned Pretty

By Charlie Sawyer

Is Brooklyn Beckham feuding with his family? Rumours circulate after the chef skips his dad David Beckham’s 50th birthday

By Charlie Sawyer

Here’s why the internet is convinced that Trisha Paytas’ third baby will be the reincarnation of Pope Francis

By Charlie Sawyer

Donald trump to accept $400M luxury plane from Qatar royal family

By Eliza Frost

Taylor Swift announces new album on Travis Kelce’s podcast. Everything we know about TS12 so far

By Charlie Sawyer

Michael Cera reveals why he turned down a role in the Harry Potter franchise

By Eliza Frost

Zayn Malik’s new song suggests One Direction era wasn’t all sunshine and rainbows

By Charlie Sawyer

Introducing Berlin’s latest tourist attraction Cybrothel, where men can request AI sex dolls covered in blood

By Charlie Sawyer

From breaking up families to spreading rumours about Joe Biden’s death, here’s what QAnons been up to