Millionaires' Tax

Times are hard for people. COVID-19 and the Ukraine War have increased food and energy prices. In some countries, energy prices have tripled. Food is 20 per cent more expensive than last year. A group of rich people has asked governments to tax them more. The people were at a meeting of global leaders in Davos, Switzerland. They protested in the streets with left-wing activists. They asked for higher taxes for people like them.

The Davos meeting started in 1971. World leaders meet there every year to talk about global problems. The group of wealthy people said it was shocking that world leaders listen "to those who have the most but know the least" about the cost of living crisis. It said super-rich people are well known for paying very little in tax. One of the millionaire protestors said "another quarter of a billion people will be pushed into extreme poverty this year".