Bu-Billionaires Galore!
Income inequality creates political inequality
Over at Naked Capitalism, Yves Smith highlights the massive leap in wealth among the U.S. Billionaire class.
Last I looked, we have more than 750 billionaires in the U.S., and not for nothing, 22 million, millionaires!
Pass it on. Open link below.
https://inequality.org/research/tax-the-rich-save-the-world/
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Inequality
Tax the Rich, Save the World. It Is That Simple.
Patriotic Millionaires Founder and President Erica Payne called for increased taxes on the wealthy in a speech at a United Nations special meeting.
Research & Commentary
March 19, 2024
by Erica Payne
Erica Payne, the founder and president of Patriotic Millionaires, delivered a powerful speech this week at the United Nations 2024 ECOSOC Special Meeting on International Cooperation in Tax Matters. She called on world leaders to increase taxes on the uber wealthy to tackle extreme wealth concentration and inequality.
“Tax the rich. Save the world,” Payne concluded her address. “It is that simple.”
A full transcript of the speech can be found below the video.
Hi, everyone. Thank you so much for having us. Distinguished panelists and participants, we’re delighted to be with you.
I’m here representing a powerful and growing network of millionaires from across the world, who are using their public voices and their private influence to raise he alarm about the threat posed by the concentrated wealth and power of the global billionaire class.
There are Patriotic Millionaire chapters in the United States and in the U.K., and over the last three years, nearly 1000 millionaires from across the globe have joined us in calling on governments to tax extreme wealth.
To be clear, this is not an act of kindness or of philanthropy. It is in our own self-interest. The far right is on the rise around the world. If we do not address the twin crises of wealth concentration and inequality, we will face in the next decade the wholesale dismantling and eventual death of liberal democracy, of justice, and of basic human freedom.