Tax the Mega-Rich Now!

To President Biden, G20 leaders and Finance Ministers:

As global citizens concerned with spiraling inequality, we call on you to tax the entire wealth of the ultra-rich now. A tax like this could raise trillions annually, enough to address urgent social needs and environmental crises around the world. It's time the ultra-rich pay what they owe.

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In the past few years, the richest 1% of the world have acquired nearly twice as much money as the bottom 99%.

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 just called for a historic billionaires tax, and with enough public pressure, he could champion the idea at an upcoming meeting of world leaders.

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.