Super-rich call for wealthy face coronavirus tax

London—More than 80 millionaires on Monday urged governments around the world to tax the super-wealthy much more to help fund the global recovery from the coronavirus outbreak.

In an open letter, the group, calling themselves "Millionaires for Humanity", said they should be taxed higher, "immediately, substantially, permanently."

Signatories, included Ben and Jerry's ice cream co-founder Jerry Greenfield, the screenwriter Richard Curtis and filmmaker Abigail Disney.

US entrepreneur Sidney Topol and New Zealand retailer Stephen Tindall also signed.

"As COVID-19 strikes the world, millionaires like us have a critical role to play in healing our world," the letter read.

"No, we are not the ones caring for the sick in intensive care wards.

"We are not driving the ambulances that will bring the ill to hospitals. We are not restocking grocery store shelves or delivering food door to door.

"But we do have money, lots of it. Money that is desperately needed now and will continue to be needed in the years ahead, as our world recovers from this crisis."

The letter was published before the forthcoming meeting of G20 finance ministers.

As countries scramble to respond to the economic impact of the global pandemic, some have already mooted introducing higher taxes.

In the UK, the Institute of Fiscal Studies think-tank has said higher taxes were inevitable for many, not just the super-wealthy.

Earlier this month, Spanish Prime Minister Pedro Sanchez indicated his government could introduce higher taxes and Russia will also target higher earners. 

Saudi Arabia has increased sales tax to offset the repercussions of the virus and a slump in oil prices.

The "Millionaires for Humanity" letter was a collaboration between groups including Oxfam, Tax Justice UK and the Patriotic Millionaires of high-net-worth US individuals. 

Topics: super-wealthy , tax , Pedro Sanchez , "Millionaires for Humanity"
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA