'Tax us more,' US billionaires say

Hungarian-born US investor and philanthropist George Soros was among a group of billionaires urging higher taxes on the superwea
Hungarian-born US investor and philanthropist George Soros was among a group of billionaires urging higher taxes on the superwealthy

"Tax us more!" was the message on Monday from about 20 super-wealthy Americans who urged presidential candidates to back higher taxes on the wealthiest to confront climate change and other priorities.

"America has a moral, ethical and economic responsibility to tax our wealth more," said the group, which included George Soros, Facebook co-founder Chris Hughes, descendants of Walt Disney and the owners of the Hyatt hotel chain.

"A wealth tax could help address the climate crisis, improve the economy, improve , fairly create opportunity, and strengthen our democratic freedoms. Instituting a wealth tax is in the interest of our republic."

Signers pointed out that fellow billionaire Warren Buffett has said he is taxed at a lower rate than his secretary.

The letter alluded to support among Democratic for on the super-wealthy, including Pete Buttigieg and Beto O'Rourke.

But the letter noted broad bipartisan support for taxing the super-wealthy, saying "some ideas are too important for America to be part of only a few candidates' platforms."

It praised a proposal by Senator Elizabeth Warren that would lift taxes on those with more than $50 million in taxes, a measure expected to affect the 75,000 wealthiest families.

The letter was signed by 18 people representing 11 families, plus one anonymous person. Many in the group have been associated with progressive initiatives on issues such as and the growing wealth gap.

Of about 40 countries, the United States is the sixth highest in terms of wealth concentration, according to data from the Organization for Economic Co-operation and Development.

Taxing the super-wealthy "would slow the growing concentration of wealth that undermines the stability and integrity of our republic," the letter said.

"Today, major policies seldom come to pass without the prior support of wealthy elites or other wealthy interests. Division and dissatisfaction are exacerbated by inequality, leading to higher levels of distrust in democratic institutions—and worse."


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Jun 24, 2019
There's absolutely nothing stopping these guys from donating all the money they want. They're just posturing to make themselves look like they give a damn.

Jun 24, 2019
If we had a simple progressive tax, billionaires would pay more as they earn more. It shouldn't matter if your income comes from the stock market, real estate, salary or stock options, it should all be taxed the same, depending on how much you get each year. Getting rid of loopholes and offshore options will only benefit our country.

Jun 24, 2019
There's absolutely nothing stopping these guys from donating all the money they want. They're just posturing to make themselves look like they give a damn.

Hmmm... Wouldn't big donations look more like "posturing" than paying a mandated legal obligation?

Jun 24, 2019
I can assure you if the feds taxed net worth, Soros head would explode. This is all posturing. His current income stream, though in the millions still, isn't what it was at one time. In fact, George Soros used the 'carried interest expense' to ridiculous proportions, and when some of those benefits started to end, he transferred his hedge fund to Ireland to avoid taxes. He's such a pos.

Jun 24, 2019
There's absolutely nothing stopping these guys from donating all the money they want. They're just posturing to make themselves look like they give a damn.

Hmmm... Wouldn't big donations look more like "posturing" than paying a mandated legal obligation?


Not if you don't go public about it. Do you go public with your taxes?

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