G20 Must Tax the Rich, Say the Rich

America should have to… pay taxes to Africa.

The people are demanding it, and this is a democracy, so the people get what they want.

The Guardian:

Developed and emerging economies must use a summit this weekend to forge an international agreement to increase wealth taxes on the global rich, campaigners have said.

In an open letter to the G20 before its meeting in Delhi, the group of almost 300 millionaires, economists and politicians say urgent action is needed to prevent extreme wealth “corroding our collective future”.

The letter says: “Much work has already been done. There is an abundance of policy proposals on wealth taxation from some of the world’s leading economists. The public wants it. We want it. Now all that’s missing is the political will to deliver it. It’s time for you to find it.”

The letter, organised by Patriotic Millionaires, the Institute for Policy Studies, Earth 4 All, Millionaires for Humanity and Oxfam, says taxing wealth more heavily would shrink “dangerous levels of inequality.”

The letter says the G20 – made up of the G7 group of rich countries with leading emerging market nations such as China, India, Brazil and Indonesia – should collectively agree to raise taxes on rich individuals and to stop tax competition and avoidance by the super-rich.

Katy Chakrabortty, Oxfam’s head of policy and advocacy, said: “The chorus of voices is surely growing too loud now for politicians to continue to ignore. The world is at a critical juncture; fairer taxation to address the cost of living and climate crises is supported by millionaires and the public alike. It’s high time for governments to act.”

There is zero reason, in any universe, that rich people would want to have less money.

Maybe they will do some charity or whatever. Okay. But they’re not going to try to stop being rich, nor are they going to want governments to decide how their money is spent.

This is very obvious.

If you believe that rich people want to be taxed more, you are really going to get what you deserve.