"Tax Us"? No, Very Few Rich People Would Love To Pay Higher Taxes

George Soros, one of the letter’s signatories, has been a critic of capitalism and supporter of higher wealth taxes for years.

Alamy

Yesterday, media outlets all around the world devoted extensive coverage to a letter calling for “a moderate wealth tax on the fortunes of the richest one-tenth of the richest 1% of Americans—on us.” Eighteen wealthy individuals from 11 different families added their names to the letter and the New York Times ran an article under the headline: “A Message From the Billionaire’s Club: Tax Us.”

There’s nothing new about such calls. In fact, they appear year in, year out. The rich people who sign up are almost always involved in left-wing politics or have a long and public track record of anti-capitalist beliefs. Frequently, it is the same individuals (such as George Soros) who support each new initiative. As the New York Times concedes,

... read more at: https://www.forbes.com/sites/rainerzitelmann/2019/06/25/tax-us-no-very-few-rich-people-would-love-to-pay-higher-taxes/