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New York City just passed its first-ever tax on luxury second homes worth over $5 million, targeting ultra-wealthy absentee owners. The move is expected to raise $500 million annually for free childcare, cleaner streets, and safer neighborhoods.
Hundreds of wealthy individuals from 24 countries are demanding higher taxes on themselves to fight inequality. Disney heirs, actors, and business leaders say it's time for the ultra-rich to pay their fair share.
Nearly 400 of the world's wealthiest people just asked global leaders to raise their taxes. The letter, released during the World Economic Forum in Davos, calls out extreme inequality and demands action.
In a surprising turn, 62% of millionaires now admit that extreme wealth poses a real threat to democracy. Even the wealthy are calling for higher taxes on the ultra-rich to protect fairness and opportunity for everyone.