Connect with us

News

‘Tax Us Now,’ 100 millionaires make an unusual plea

Published

on

More than 100 millionaires made an unusual plea on Wednesday: “Tax us now”.

Their appeal came as a study backed by wealthy individuals and nonprofits found that a wealth tax on the world’s richest people could raise $2.52 trillion per year — enough to pay for Covid vaccines for everyone and pull 2.3 billion people out of poverty.

In an open letter to the World Economic Forum’s online Davos meeting, 102 millionaires, including Disney heiress Abigail Disney, said the current tax system is unfair and “deliberately designed to make the rich richer”.

“The world — every country in it — must demand the rich pay their fair share,” the letter says. “Tax us, the rich, and tax us now.”

Their plea follows a report by global charity Oxfam this week which said that the world’s 10 wealthiest men doubled their fortunes to $1.5 trillion during the first two years of the pandemic while inequality and poverty soared.

“As millionaires, we know that the current tax system is not fair,” says the letter circulated by groups including Patriotic Millionaires, Millionaires for Humanity, Tax me Now, and Oxfam.

“Most of us can say that, while the world has gone through an immense amount of suffering in the last two years, we have actually seen our wealth rise during the pandemic — yet few if any of us can honestly say that we pay our fair share in taxes.”

The signatories include wealthy men and women from the United States, Canada, Germany, Britain, Denmark, Norway, Austria, the Netherlands and Iran.

The Patriotic Millionaires took part in a the wealth tax study with a network of non-profits and social movements, including Fight for Inequality Alliance, Oxfam and the US-based Institute for Policy Studies think tank.

In addition to funding vaccines worldwide and alleviating poverty, the tax would be enough to provide universal health care and social protection to 3.6 billion people in low- and middle-income countries, the group said.

The tax would be set at two percent for those worth over $5 million, three percent for over $50 million, and five percent for over $1 billion.

 

– ‘Realistic’ tax –

The group said a steeper progressive tax, which includes a 10 percent levy on billionaires, would raise $3.62 trillion a year. The actual levels of taxation would be country-specific.

Jenny Ricks, global convenor of the Fight Inequality Alliance, told AFP the group chose a lower progressive tax that was on the “realistic side”.

A plan to tax the wealth of some 700 American billionaires was floated by Democrats in the US Congress last year, but it was cut from President Joe Biden’s $1.75 trillion social spending and climate change programme.

Wednesday’s tax proposal was made as global government and business leaders take part in the virtual Davos meeting this week. The in-person gathering was postponed due to the spread of the Omicron variant.

“There is no defending a system that endlessly inflates the wealth of the world’s richest people while condemning billions to easily preventable poverty,” Patriotic Millionaires chairman Morris Pearl, a former BlackRock investment firm managing director, said in a statement.

“We need deep, systemic change, and that starts with taxing rich people like me,” Morris said.

 

Comments

News

‎LAF Foundation Founder, Adisa Marks Birthday with Food Outreach in Oyo

Published

on

‎Founder of the LAF Foundation, Dr. Olalekan Adisa, has  celebrated his birthday by distributing food items to residents across Ido Local Government Area of Oyo State, reaffirming his commitment to supporting vulnerable members of society.

The outreach, which attracted beneficiaries from different communities within the council area, was organised to cushion the effects of the current economic hardship confronting many households. Residents, including the elderly, widows, and low-income earners, received bags of rice and other food items from the foundation.

‎According to Adisa, his birthday was an opportunity to appreciate God by extending love and kindness to people in need rather than holding elaborate celebrations.

He said: “Every birthday reminds me that life is meaningful only when it positively impacts others. Today is not just about celebrating another year; it is about sharing God’s blessings with those around us. If we all make helping others a habit, our communities will become stronger and more united.”

The scholar noted that the LAF Foundation would continue to champion humanitarian interventions aimed at improving the welfare of the less privileged through education support, health initiatives, youth empowerment and community development programmes.

‎In his words, “The economic realities demand that those who have the capacity should lend a helping hand. This gesture may seem small, but for many families, it will make a significant difference. Our commitment to humanity remains unwavering.”

‎Some beneficiaries expressed appreciation to the foundation for the timely intervention, describing the gesture as a source of relief. They commended Adisa for consistently identifying with ordinary people and prayed for greater strength and resources for him to sustain the initiative.

Continue Reading

News

‎Oseni hails Dotun Sanusi’s elevation as Gbonka Olubadan, says honour well deserved

Published

on

‎The All Progressives Congress (APC) candidate for Oyo South Senatorial District in the 2027 general election and member representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Hon. Aderemi Oseni, has congratulated foremost businessman and philanthropist, Chief Dotun Sanusi, on his elevation to the prestigious chieftaincy title of Gbonka Olubadan of Ibadanland, describing the honour as a fitting reward for a life devoted to service, compassion and the development of humanity.

‎Oseni, in a statement issued on Friday by his Media Aide, Idowu Ayodele, said the elevation was a well-deserved recognition of Chief Sanusi’s outstanding contributions to the socio-economic growth of Ibadanland and his unwavering commitment to improving the lives of countless people through philanthropy, enterprise and community development.

‎The federal lawmaker noted that Chief Sanusi has, over the years, distinguished himself as an exceptional son of Ibadan whose investments, humanitarian interventions and unwavering support for the less privileged have continued to leave lasting footprints across Oyo State and beyond.

‎He said the latest elevation in the revered Olubadan traditional succession line was not merely a recognition of status, but a celebration of character, integrity and purposeful leadership, adding that Chief Sanusi has consistently demonstrated that genuine greatness is measured by the number of lives positively impacted.

‎According to the chairman, House Committee on Federal Roads Maintenance Agency (FERMA), the respected industrialist has earned the admiration of many through his humility, generosity and unwavering commitment to the progress of his people, stressing that his contributions to education, healthcare, youth empowerment and economic development have continued to strengthen communities and inspire hope.

“On behalf of my family and the good people of Ibarapa East/Ido Federal Constituency, I heartily congratulate my distinguished  brother and friend, Chief Dotun Sanusi, on his well-deserved elevation as the Gbonka Olubadan of Ibadanland. This honour is not only a recognition of your place in the revered Olubadan traditional institution, but also a celebration of your remarkable life of service, sacrifice and unwavering commitment to humanity,” Oseni said.

‎He added: “You have consistently shown that true leadership is about touching lives, creating opportunities and giving hope to others. Your philanthropy has restored dignity to many families, empowered young people, supported education and strengthened communities. It is gratifying to see these noble contributions being recognised through this prestigious elevation. I am confident that you will continue to serve Ibadanland with the same humility, wisdom and sense of responsibility that have always defined your public life.”

‎Oseni also commended the Olubadan of Ibadanland and the Olubadan-in-Council for preserving the time-honoured succession tradition, describing the institution as one of the enduring symbols of stability, unity and cultural heritage in Yorubaland.

‎He expressed confidence that Chief Sanusi’s elevation would further strengthen the traditional institution while inspiring a new generation of leaders to embrace selfless service, integrity and genuine commitment to community development.

The APC senatorial candidate prayed for God’s continued guidance, sound health and greater wisdom for the new Gbonka Olubadan as he ascends to higher responsibilities, expressing optimism that his new status would open another remarkable chapter of impactful service to Ibadanland, Oyo State and Nigeria as a whole.

Continue Reading

News

Oriire Rescue: SWEGOP Seeks Stronger Security in Border Communities

Published

on

The South West Guild of Online Publishers has urged the Federal and Oyo State governments to strengthen security in border communities following the rescue of pupils and teachers abducted from Oriire Local Government Area of Oyo State.

The guild said the successful rescue of the victims, who regained their freedom on Friday after spending months in captivity, should mark a turning point in efforts to secure vulnerable communities and prevent similar attacks.

In a statement issued on Sunday and jointly signed by its Chairman, Bisi Oladele, and Public Relations Officer, Remi Oladoye, SWEGOP commended President Bola Tinubu, Oyo State Governor Seyi Makinde and the security agencies for what it described as their commitment and coordinated efforts that led to the victims’ rescue.

The guild described the operation as proof that strong political will, intelligence-driven operations and effective collaboration among security agencies can deliver positive results in the fight against insecurity.

It also praised the gallantry, resilience and professionalism of the military and other security personnel involved in the operation, noting that their sacrifices had restored hope to the rescued victims, their families and residents of Oyo State.

While celebrating the successful rescue, SWEGOP sympathised with the families of security personnel and civilians who lost their lives during the ordeal, praying for the peaceful repose of the deceased.

The publishers observed that recent abductions across parts of the country revealed a disturbing pattern of attacks on border communities, where inadequate security presence, poor road networks, weak telecommunications infrastructure and easy escape routes into neighbouring countries have continued to expose residents to criminal activities.

It, therefore, called on governments at all levels to sustain the level of cooperation demonstrated during the rescue operation by strengthening collaboration among security agencies, traditional rulers, community leaders and other critical stakeholders to improve the safety of residents.

The guild further urged both the Federal Government and the Oyo State Government to deepen investments in intelligence gathering, surveillance technology, rapid response mechanisms and community policing to guarantee the safety of schools and ensure that children can learn without fear.

SWEGOP reaffirmed its commitment to responsible journalism and pledged continued support for initiatives aimed at promoting peace, public safety and the protection of lives and property across the South-West and the country.

Continue Reading

Advertisement

Entertainment

Advertisement

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Advertisement

Trending