Number of International Organizations Proposed to Introduce a Tax on the Super-Rich People to Combat the Coronavirus
OREANDA-NEWS. A number of international organizations and millionaires have proposed to introduce a tax on the super-rich people in order to combat the coronavirus pandemic. «While billions of people are struggling to survive amid the pandemic, the property of billionaires is getting out of control. This cannot be fair», said Jenny Rix, coordinator of the Fight Inequality Alliance movement, on Wednesday, January 19.
Activists have unveiled their initiative on the occasion of the World Economic Forum in Davos, which is being held in a virtual format this year in connection with the coronavirus pandemic.
Together with the international humanitarian organization Oxfam, the American Institute of Political Science and the association of wealthy Americans Patriotic Millionaires, the movement to combat inequality proposed to introduce a global tax on the super-rich people, depending on the size of their fortunes. It is proposed to impose an annual tax of 2 percent on property over $5 million, a tax of 3 percent on property over $50 million, and a tax of 5 percent on property over a billion dollars.
Activists estimate that over $2.5 trillion could be raised annually as a result. This would help to free 2.3 billion people from poverty and provide vaccines against coronavirus to the entire population of the Earth.