Over 400 millionaires and billionaires from around the globe are sounding the alarm, calling for a significant increase in taxes on the ultra-wealthy as concerns about the corrupting influence of extreme wealth on politics and society grow.
A joint open letter signed by prominent individuals such as actor Mark Ruffalo and musician Brian Eno has urged world leaders to take action to bridge the widening gap between the super-rich and everyone else. The letter asserts that extreme wealth is having a devastating impact, from "polluting" politics to fuelling climate change and exacerbating social exclusion.
The authors argue that a tiny elite of global oligarchs wielding enormous power are "buying our democracies", "gagging our media", and driving social inequality. They warn that if left unchecked, the gap between the haves and have-nots will become unsustainable, threatening democracy itself.
A recent survey conducted by the Patriotic Millionaires group found that 77% of millionaires from G20 countries believe that wealthy individuals use their influence to buy political power. The poll also revealed that 60% of respondents were concerned about extreme wealth as a threat to democracy, with two-thirds supporting higher taxes on the super-rich.
The rise of billionaires continues at an alarming rate, with over 3,000 now holding a record number of global fortunes. Oxfam International executive director Amitabh Behar described this phenomenon as "beyond comprehension", highlighting the stark contrast between the wealth held by the richest 1% and the total public wealth combined.
The call to action comes as governments face mounting pressure to address the growing wealth gap and ensure that those who benefit from the system also contribute to its maintenance.
A joint open letter signed by prominent individuals such as actor Mark Ruffalo and musician Brian Eno has urged world leaders to take action to bridge the widening gap between the super-rich and everyone else. The letter asserts that extreme wealth is having a devastating impact, from "polluting" politics to fuelling climate change and exacerbating social exclusion.
The authors argue that a tiny elite of global oligarchs wielding enormous power are "buying our democracies", "gagging our media", and driving social inequality. They warn that if left unchecked, the gap between the haves and have-nots will become unsustainable, threatening democracy itself.
A recent survey conducted by the Patriotic Millionaires group found that 77% of millionaires from G20 countries believe that wealthy individuals use their influence to buy political power. The poll also revealed that 60% of respondents were concerned about extreme wealth as a threat to democracy, with two-thirds supporting higher taxes on the super-rich.
The rise of billionaires continues at an alarming rate, with over 3,000 now holding a record number of global fortunes. Oxfam International executive director Amitabh Behar described this phenomenon as "beyond comprehension", highlighting the stark contrast between the wealth held by the richest 1% and the total public wealth combined.
The call to action comes as governments face mounting pressure to address the growing wealth gap and ensure that those who benefit from the system also contribute to its maintenance.
. It's like, we need to make sure our governments aren't being controlled by these super-rich elites. And can we talk about how Oxfam is calling this phenomenon "beyond comprehension"? Like, I feel it 
. 3,000 billionaires now holding record-breaking fortunes? That's just wrong!
. It's like, hello! That's not how democracy works, folks! And to make matters worse, we're already seeing the effects of climate change, social exclusion, and inequality... it's a ticking time bomb waiting to happen 
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. And those who don't support higher taxes on the super-rich are just ignoring the problem altogether. It's like they're not even awake to the fact that we need systemic change 
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. Did you know that in 2020, the top 1% of earners held over 39% of global wealth? It's crazy! 
The numbers are staggering: 77% of millionaires agree that wealthy individuals use their influence to buy political power... I mean, can we even put a price on this? 
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. Meanwhile, the bottom 50% hold just 1.3% 
And let's not forget, this isn't just an economic issue; it's also a democracy thing. If we don't address income inequality, we risk losing our democratic systems 
. I'm not buying it (no pun intended).
and it's not just that they're contributing to climate change & social inequality but also threatening democracy itself 
is straight-up crazy! I mean, 3k billionaires now holding half the global fortune? 
. And Oxfam's Amitabh Behar is totally right - this isn't just a matter of personal wealth, it's a societal problem 
.
! They're speaking truth, you know? The rich getting richer is literally draining our planet 
. I mean, have you seen the stats on the top 1% holding like half of all global wealth? It's wild 
! We need more people like Mark Ruffalo & Brian Eno using their voices to bring attention to this issue 
. And yaaas, higher taxes on the ultra-wealthy is a NO BRAINER 
. They're more worried about lining their own pockets than addressing the issues that affect real people's lives. It's like they think they're above the law or something. And don't even get me started on how this whole system is rigged against us from the start. If you're already a billionaire, you've got so much power and influence that it's hard to imagine anything changing without a huge push from people like Mark Ruffalo and Brian Eno 
. It's not just about taxing them more, it's about holding them accountable for how they're using their wealth and influence. We need systemic change here, not just a Band-Aid solution. I mean, have you seen the numbers? 77% of millionaires believe that wealthy people are buying our politics? That's insane! 
. And 77% of millionaires think they're using their influence to get ahead? That's just insane 
. I'm not sure if it's the system that's broken or these guys' heads, but something needs to be done 
. It's like they're saying, "Hey, let's just keep making more money and ignore everyone else." No thanks 
They're using their platforms to raise awareness and push for change, which is pretty cool.
back in the 80s. Remember when the Walton family was making headlines for being one of the richest families in America? Now, it's not just them anymore... there are thousands of these ultra-wealthy folks out there, and they're like a cancer, spreading corruption and inequality wherever they go 
). But seriously, it's time for world leaders to take action and make sure these billionaires aren't buying off our politicians and media outlets. We need some real reform here... before we lose the soul of democracy altogether 