Millionaires demand governments tax them more to help Covid recovery

More than 80 millionaires including director Richard Curtis and the heir to Disney sign open letter demanding governments tax THEM more to help economic recovery from coronavirus

  • ‘Millionaires for Humanity’ is asking governments to raise taxes on its members 
  • They want to be taxed more to help fund economic recovery from Covid crisis 
  • Signatories include Disney heir Abigail Disney and Ben and Jerry’s co-founder
  • Blackadder and Four Weddings And A Funeral writer Richard Curtis also signed  

Eighty-three millionaires have signed an open letter calling on governments around the world to tax them more to help fund the economic recovery from the coronavirus crisis.

The group, ‘Millionaires for Humanity’, is asking governments to raise taxes on its members ‘immediately, substantially and permanently’.

Signatories include Disney heir Abigail Disney and Ben and Jerry’s co-founder Jerry Greenfield, as well as other millionaires from around the world.

The letter has been signed by four British millionaires, including Blackadder and Four Weddings And A Funeral writer Richard Curtis.

Other British millionaires who have pledged their support include Gary Stevenson, an economist and former interest rate trader in London and Tokyo. 

In 2011 Mr Stevenson became Citibank’s most profitable trader globally by correctly predicting that the aftereffects of the 2008 crisis would lead to a long term stagnation in interest rates and a rapid rise in asset values. 

He retired as a multimillionaire aged 27 in 2014, to study economics and inequality at Oxford University.

Love Actually director Richard Curtis is one of four British millionaires to sign the letter

Those who signed the letter said: ‘The problems caused by, and revealed by, Covid-19 can’t be solved with charity, no matter how generous. Government leaders must take the responsibility for raising the funds we need and spending them fairly.

‘We can ensure we adequately fund our health systems, schools, and security through a permanent tax increase on the wealthiest people on the planet, people like us.’

A recent report by Credit Suisse found there are 46.8 million millionaires worldwide, and they own nearly half of the world’s global total wealth.

The open letter continued: ‘We owe a huge debt to the people working on the frontlines of this global battle. Most essential workers are grossly underpaid for the burden they carry. At the vanguard of this fight are our health care workers, 70 per cent of whom are women.’

The signers conclude that raising taxes on the wealthy is the ‘only choice’ and that ‘humanity is more important than our money’.

Some of the world’s super-rich have already donated money to assist Covid-19 relief efforts — including Microsoft founder Bill Gates and Twitter founder Jack Dorsey.

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