Tax us 'substantially': Millionaires pen letter demanding super-rich to be taxed more

WION Web Team New Delhi, Delhi, India Jul 13, 2020, 04.06 PM(IST)

Representational image Photograph:( Reuters )

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It comes at a time when many experts have already spoken on the idea of taxing the wealthy to deal with the crisis 

Describing themselves as "Millionaires for Humanity", a group of 80 millionaires urged governments around the world to tax the super-wealthy a lot more so that recovery from the coronavirus can be found. 

The group, which included people like filmmaker Abigail Disney, screenwriter Richard Curtis, and  Ben and Jerry's ice cream co-founder Jerry Greenfield, wrote an open letter, saying they should be taxed higher, "immediately, substantially, permanently". 

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The letter said as the world is fighting coronavirus crisis "millionaires like us have a critical role to play in healing our world". 

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It further said they are not treating the sick suffering from the deadly virus and not restocking groceries in the supermarkets.

"But we do have money, lots of it. Money that is desperately needed now and will continue to be needed in the years ahead, as our world recovers from this crisis," the letter adds. 

US entrepreneur Sidney Topol and New Zealand retailer Stephen Tindall were also among the signatories. 

The letter was published before the upcoming meeting of G20 finance ministers.

It comes at a time when many experts have already spoken on the idea of taxing the wealthy to deal with the crisis. 

In Britain, the Institute of Fiscal Studies think-tank has said higher taxes are required for several people, not just the super-rich. 

Earlier, Spanish and Russian governments have also indicated that such taxes would be imposed. 

Various groups including Oxfam, Tax Justice UK, and the Patriotic Millionaires came together to pen this letter.