A group of over 150 millionaires are calling on the elite attendees of this year’s World Economic Forum in Davos, to tax them more.
They said that the WEF Davos summit didn't deserve the world's trust right now, given the lack of"tangible value" that had come from discussions at previous events.Cost of living crisis
Julia Davies, founding member of Patriotic Millionaires U.K., said that as"scandalous as it is that governments seem to be utterly inactive on dealing with the cost of living, it is equally scandalous that they allow extreme wealth to sit in the hands of so few people."'Race to the bottom' on corporate taxes
The Organisation for Economic Co-operation and Development tax reform agreement was signed by 136 countries and jurisdictions in October, though it is yet to be implemented. Bucher was also concerned that the agreement, at the current level, would see a"race to the bottom" for corporate taxes and that countries with higher rates might actually bring them down.
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