Millionaires Are Asking for Higher Taxes... Wait What?


"Millionaires for Humanity" is a group of millionaires calling for higher taxes on the wealthy.

"Millionaires for Humanity" is a group of millionaires calling for higher taxes on the wealthy, according to CNBC.

Millionaires are starting to realize that the world needs their help to recover from the coronavirus crisis. In an open letter from the Millionaires for Humanity, they stated “Tax us. Tax us. Tax us.” Disney heir Abigal Disney and her brother Tim, Ben & Jerry's co-founder Jerry Greenfield, and Richard Curtis are among the 83 millionaire signatures on the letter.

The letter continues saying that the pandemic cannot be solved with charity, "no matter how generous," and that the government must impose higher taxes to raise funding for solutions. “We can ensure we adequately fund our health systems, schools, and security through a permanent tax increase on the wealthiest people on the planet, people like us,” the letter said. 

The millionaires want to help the frontline workers who have been fighting the virus. They believe their money can help expedite the recovery. They believe we need to “rebalance our world before it is to late. There will not be another chance to get this right.” 

“Unlike tens of millions of people around the world, we do not have to worry about losing our jobs, our homes, or our ability to support our families,” the millionaires said. The group has been active before and called for higher taxes on the wealthy. This letter was sent as the world's richest people have seen their net worth increase by more than 50 percent during the crisis.

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Economics, Finance and Investing