“Patriotic Millionaires” Request Wealth Tax to Return Some of What They Took
According to Reuters, a group of more than 100 billionaires and millionaires calling themselves “Patriotic Millionaires” has issued an appeal to politicians and business leaders to make them pay more taxes. According to the group, “the ultra-wealthy were not currently being forced to pay their share.” It may look very generous, but I think we should look at where they got their billions — from the rest of us, the regular folk, who do pay their fair share of taxes, as well as enrich the already rich. Moreover, why is no one asking how come those super rich don’t pay a lot more taxes than we do, with some of them paying almost none at all?
As I see it, there should be a progressive tax, applied retroactively, that charges up to ninety percent from the rich. Their “offer” is hypocritical, sordid, and I don’t think they deserve any praise for it or any exemption from their duty to share the common burden of the world’s problems. They cannot even imagine how the rest of the world looks at what they are offering. It is nothing more than a last ditch effort to save their skin after trying everything else.
Humanity should really get some order in its affairs. How can it be that one person has billions, if not more, and pays little to no taxes? These moguls set up organizations and use tax maneuvers to evade taxes while the rest of us pay 20–40 percent income tax. Where is the logic here?
The story mentions a study conducted by the Patriotic Millionaires together with Oxfam and other non-profit organizations. The study concluded that “a progressive wealth tax starting at 2% for those with more than $5 million and rising to 5% for billionaires could raise $2.52 trillion, enough globally to lift 2.3 billion people out of poverty and guarantee healthcare and social protection for individuals living in lower income countries.”
In other words, while regular people pay a quarter or more of their income in taxes, the rich pay up to 5% and expect gratitude. Just look at this excerpt from the story: “Over the course of the two years of the pandemic, the fortunes of the world’s 10 richest individuals have risen to $1.5 trillion — or by $15,000 a second.”
I think that the truth is that the rich know that the current situation is so unacceptable that it will turn against them. To prevent an even greater loss, they are offering to “give” a few percent. What a “sacrifice,” I tremble in awe.
As I see it, there should be a progressive tax, applied retroactively, that charges up to ninety percent from the rich. Their “offer” is hypocritical, sordid, and I don’t think they deserve any praise for it or any exemption from their duty to share the common burden of the world’s problems. They cannot even imagine how the rest of the world looks at what they are offering. It is nothing more than a last ditch effort to save their skin after trying everything else.
It is time for humanity to move to another level. We really need to question what is worth living for and what is not. This is the reason why we see so much corruption and evil in the world today — to help us conduct our scrutinies more quickly and clearly.
The tycoons, who used to feel that they were on top of the world, are now feeling the winds of change. People are beginning to not only want, but demand balance in society, where everyone is treated fairly. In such a society, the leaders of public opinion, the “idols,” will be the ones who help unite people and establish cohesion and mutual responsibility in communities and societies, and the selfish rich and famous will be demoted.