While Elon Musk paid a true tax rate of about 3% for years, a rice trader in Uganda paid 40%. She makes US$80 each month -- and Musk is worth US$180 BILLION.
There is one clear way to help address this gap -- we must Tax the Rich. And now is our chance. US President Biden is calling for a billionaires tax, Spain and Argentina are on it, Brazil is now considering it, and with enough public pressure, other world leaders can come onboard.
A wealth tax of up to 5% on the ultra-rich could raise enough money to lift 2 billion people out of poverty! Let’s gather one million voices demanding G20 governments tax the rich now -- add your name, and Avaaz will deliver our call ahead of the summit where world leaders can’t miss it!
*We use the term “true tax rate” as coined and calculated by Propublica (2021) to refer to how much is paid in taxes annually in comparison to the estimated growth in wealth during that year. Elon Musk’s true tax rate, based on leaked IRS data, was 3.27% on average between 2014 and 2018.