A group of more than 100 millionaires and billionaires on Wednesday presented fellow members of the global economic elite with a stark choice: “It’s taxes or pitchforks.” In an open letter published amid the corporate-dominated virtual Davos summit, 102 rich individuals—including such prominent figures as Disney heiress Abigail Disney and venture capitalist Nick Hanauer—warned that “history paints a pretty bleak picture of what the endgame of extremely unequal societies looks like.” “For all our well-being—rich and poor alike—it’s time to confront inequality and choose to tax the rich,” the letter reads. “Show the people of the world that you deserve their trust.” According to an Oxfam analysis published earlier this week, the 10 richest men in the world have seen their combined fortunes grow by more than $1.2 billion per day since the coronavirus pandemic hit two years ago while tens of millions worldwide have been pushed into poverty.
— source commondreams.org | Jan 19, 2022