The letter "Millionaires for humanity"

More than 80 millionaires on 13^th July 2020 urged government around the world to tax the super wealthy much more to help fund for the global recovery from the coronavirus outbreak. In an open letter, the group calling themselves “Millionaires for humanity,” said they should be taxed higher, “immediately, substantially and permanently”.

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

The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU), founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability.

In that letter they said,

 “To the fellow global citizens,

As coronavirus strikes the world, millionaires like us have a critical role to play in healing our world. No, we are not the ones caring for sick in the intensive care wards. We are not driving the ambulances that will bring the ill to hospitals. We are not restocking grocery store shelves or delivering food door to door. 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 crises.”

Signatures include Ben and Jerrys’s ice cream co-founder Jerry Greenfeild, the screenwriter Richard Curtis, filmmaker Abigail Disney, US entrepreneur Sindey Topol and New Zeeland retailer Stephen Tindall.

You can see the whole letter and the signature of various millionaires from various sectors using the link given below. It is official an link.

The link of this letter: https://www.millionairesforhumanity.com

As countries scramble to respond to the economic impact of the global pandemic, some were already introduced higher taxes.

In the UK, the institute of Fiscal Studies think-tank has said higher taxes were inevitable for many, not just the super wealthy.

Spanish Prime Minister Pedro Sanchez indicated his government could introduce higher taxes and Russia will also target higher earners.

Saudi Arabia has increased sales tax to offset the repercussions of the virus and a slump in oil prices.

The “Millionaires for humanity” letter was a collaboration between groups including Oxfam, Tax justice UK and Patriotic Millionaires of high-net worth US individuals.

Humanity is more important than money.