” We are writing to call on all candidates for President, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest 1/10 of the richest 1% of Americans—on us. The next dollar of new tax revenue should come from the most financially fortunate, not from middle-income and lower-income Americans.”
This is the first paragraph of a letter sent by a group of very wealthy Americans to all presidential candidates of 2020. They argue that “The top 1/10 of 1% of households now have almost as much wealth as all Americans in the bottom 90%”. They see solving the climate crisis, the general health of Americans and patriotism as some of the areas the proposed tax would benefit.
I think this is long overdue, not just for the US, but for all countries. It isn’t fair for the richest to build their fortunes on other peoples misfortunes. If there are people in your business chain that cant get by on the salary they make, you are paying too little. It doesn’t matter if they live in some faraway country and work for a supplier that you have hired. It is your responsibility to make sure that everyone in your supply chain is treated well before you make a profit off of what they do.
What makes this initiative unique, is that it is some of those who will be targeted by a tax like this who brought it up this time. This is an excellent opportunity to do something about it. If America took the lead on this, I am sure other countries would follow.
What do you think? Have you given this any thought?