Ultra-Wealthy Call for Fairer Taxes to Address Inequality
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Over 250 ultra-wealthy people signed a letter asking to be taxed more fairly, saying "Tax us, the very richest in society."
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Wealth inequality has reached a tipping point - the top 5% of Americans own 2/3 of the nation's wealth, while the top 0.01% pay similar taxes to 1953 despite 4x wealth.
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The letter argues philanthropy isn't enough - governments need to tax the ultra-rich more and address root causes of poverty like low wages and unaffordable housing.
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The ultra-wealthy say taxing them more won't really impact their standard of living, children, or national growth.
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It remains to be seen if the letter will have an impact, but the ultra-rich argue governments need to lead to fix wealth inequality.