80 millionaires call for higher taxes on super-wealthy to fuel global recovery

In an open letter, the group, calling themselves Millionaires for Humanity, said they should be taxed higher, immediately, substantially, permanently. Signatories, included Ben and Jerry’s ice cream co-founder Jerry Greenfield, the screenwriter Richard Curtis and filmmaker Abigail Disney.

US entrepreneur Sidney Topol and New Zealand retailer Stephen Tindall also signed. “As COVID-19 strikes the world, millionaires like us have a critical role to play in healing our world,” the letter read.

“No, we are not the ones caring for the sick in 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 crisis.” The letter was published before the forthcoming meeting of G20 finance ministers. As countries scramble to respond to the economic impact of the global pandemic, some have already mooted introducing 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. Earlier this month, Spanish Prime Minister Pedro Sanchez indicated his government could introduce higher taxes and Russia will also target higher earners.