- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
Abigail Disney, Brian Cox and Valerie Rockefeller among signatories of open letter condemning inequality
More than 250 billionaires and millionaires are demanding that the political elite meeting for the World Economic Forum in Davos introduce wealth taxes to help pay for better public services around the world.
“Our request is simple: we ask you to tax us, the very richest in society,” the wealthy people said in an open letter to world leaders. “This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nations’ economic growth. But it will turn extreme and unproductive private wealth into an investment for our common democratic future.”
The rich signatories from 17 countries include Disney heir Abigail Disney; Brian Cox who played fictional billionaire Logan Roy in Succession; actor and screenwriter Simon Pegg; and Valerie Rockefeller , an heir to the US dynasty.
Not to be pedantic, but it’s an income tax.
It’s generally being called a wealth tax.
There’s a major difference between the two
Maybe, but it’s being called a ‘wealth tax’ or a ‘millionaire’s tax.’ You don’t have to take my word for it- https://www.google.com/search?client=firefox-b-1-d&q=massachusetts+wealth+tax#ip=1
Just because some people call it a wealth tax does not mean we should perpetuate the micsonception
It’s an income tax on high earners, and objectively not a wealth tax no matter how many people call it that
Agreed. Having lived through the ad campaigns and voted for this tax myself, I can confirm that I, at least, never heard anyone call it a wealth tax. A millionaire’s tax, sure, but that’s just a catchy shorthand. If you do the google search Mr. Flying Squid suggested, you’ll find a lot of sources calling it a millionaire’s tax, and maybe a couple calling it a wealth tax. The ones calling it a wealth tax are just plain wrong.
There is no legal definition or concept for a “wealth tax”. You usually tax income or you tax property.
And while taxing property is the more obvious one, both can be a wealth tax depending on who is paying majorily by its design (for example a progressive income tax where low incomes barely pay anything reaching 90%+ over a certain limit -see 1950- is definitely a wealth tax).