Monday 23 May 2022

Millionaires at Davos Say 'Tax Us More'

Millionaires Marlene Engelhorn and Phil White joined a Davos protest calling for higher taxes on the wealthy | PHIL WHITE

BBC: A handful of wealthy attendees gathered in Davos are calling on world leaders to tackle the cost of living crisis by pushing up taxes for people like them.

They took to the streets on Sunday alongside left-wing activists to call for fairer tax systems worldwide.

Political and business leaders are at the first in-person World Economic Forum (WEF) since the pandemic began.

But criticisms are mounting over the way the wealthy have profited in the last two years.

UK millionaire Phil White said: "While the rest of the world is collapsing under the weight of an economic crisis, billionaires and world leaders meet in this private compound to discuss turning points in history.

"It's outrageous that our political leaders listen to those who have the most, know the least about the economic impact of this crisis, and many of whom pay infamously little in taxes. The only credible outcome from this conference is to tax the richest and tax us now."

Mr White, who represents a group called Patriotic Millionaires, made his money as a business consultant. He said he was joining left-wing and anti-poverty campaigners calling for change at the annual meeting of influential business people and political leaders because the current economic system was failing.

Over the past decade, a growing number of millionaires and billionaires in the US and Europe have spoken out, calling for governments to impose higher taxes, including wealth levies on the richest.

While only a small number of millionaires were in Davos to attend the protest, the campaigners have sent an open letter to all Davos delegates, signed by millionaire supporters in several countries. » | BBC | Monday, May 23, 2022

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