Millionaires offered to contribute higher taxes to help coronavirus efforts

WHAT YOU NEED TO KNOW:

• A group of multi-millionaires is pleading governments to tax them immediately with significant rates, to help fund the recovery from the pandemic.
• With 83 signatures, the millionaires said in their open letter noted that the government tax system is better than charity to deal with the crisis outcome.
• Group members include Jerry Greenfield, Ben & Jerry’s co-founder, and Abigail Disney, Disney heiress.

A group of open-minded multi-millionaires, through an open letter, called for higher tax contributions for wealthy people to help the world recover from the crisis brought about by the coronavirus pandemic. 

Through a signed letter addressed to citizens worldwide, they demanded governments to increase tax rates for millionaires. Around 83 millionaires reportedly signed the said open letter from Germany, U.S., Netherlands, New Zealand, and Canada.

The initiative was called Millionaires for Humanity. It’s comprised of well-known names like Jerry Greenfield, Ben & Jerry’s co-founder, Abigail, and Tim Disney, Disney heirs, Richard Curtis, “Four Weddings and a Funeral” director, and Morris Pearl, former BlackRock managing director.

Pearl, during an interview with CBS  show, “MoneyWatch,” said the move indicated the system is currently stable.

He further added that there’s an imbalance between the number of rich and poor people, especially in the long term. Pearl also said his concern is over the millions of citizens who did not earn during the pandemic.

The multi-millionaires admitted in their statement that they’re not frontlines amidst the crisis, nor they fear about their homes, jobs, health funds,  or families, saying they have enough money even after the crisis over.

They also argued that charity is not the answer for everything, but a more significant share in taxes should be fairer.

The letter further emphasized that the national government must find ways to raise funds and allocate the budget appropriately. One of the best ways to ensure fund security is by taxing the wealthiest people.

The group further commented that while money is essential, humanity is more important.

Source: AOL