Time to end extreme poverty
Consequences of poverty
Currently our economic model is broken. We try to fix the issues related to our global economy by donating to charity, but the traditional ‘donation based model’ is not facilitating a united effort in international development. Also, it is not raising the resources needed to end extreme poverty.
Extreme poverty is not just morally wrong. It slows down economic growth. Low purchasing power of poor individuals, restricts the consumer to purchasing only basic necessities such as food and shelter.
At the same time, poor people migrate to wealthier countries in the search of a better life, affecting the world-wide migration crisis.
We need a sustainable solution based on capitalistic values if we want to bring social and economic change to our global society. We are heading towards an unstable world, with walls and boarder control, if we fail to fight the root cause, maintaining people in extreme poverty.
A billionaire tax is ethical
At Human Action we advocate for a dollar billionaire tax at 1.5% on wealth in excess of $1 billion. This would raise $70 billion a year if all billionaires contribute (Oxfam).
The tax would be sufficient to secure education for all the 124 million children currently not enrolled in school in low- and lower-middle-income countries (UNESCO), and strengthen the health systems of 74 developing countries – saving 6 million lives a year (WHO).
The taxation would only affect 1,810 individuals in the world, which is equivalent to 0.00002% of the world’s population. Still, the dollar billionaire tax would have a massive redistributive impact, transferring $70 billion from the 1810 richest people to millions of the world’s poorest individuals.
While the tax will be a drop in the ocean for the billionaires, it will be enough to secure that all human beings have enough for a dignified life. Eradicating extreme poverty is the greatest global challenge and an indispensable requirement for sustainable development.
The multiple reasons for a billionaire tax
A small wealth tax will make a difference for millions of people
Ending extreme poverty will eventually lower migration levels and improve bottom lines in the private sector - facilitating a more balanced world for all of us.
Small $ %
The tax represents a drop in the ocean for the billionaires. If individuals’ net wealth is $1001 million, they will only be asked to donate an annual amount of $15,000. Source: Oxfam.
It will strengthen the health systems of 74 developing countries – saving 6 million lives a year. Source: WHO.
It will be enough to secure education for all the 124 million children currently not going to school. Source: UNESCO.
We have to keep reminding ourselves of two things: it is unacceptable that in a world with the kind of wealth that we have, almost a billion people live on less than $1.90 a day. And while this is a daunting reality, it is not irreversible .
We need your support to end extreme poverty
1. Public mobilization
The successful implementation of a global billionaire tax will depend on public mobilization efforts. Through a public movement and by using social media, we will create awareness on the issues of extreme poverty and the need for a billionaire tax. We will show that a billionaire tax is ethical and fair, and that it is in the public interest.
2. UN resolution
With popular support, we will urge our politicians to endorse a UN resolution, creating the norm for all countries to introduce a billionaire tax. The UN General Assembly will call on individuals to contribute each year 1.5% of their net wealth above $1 billion, and call on member states to enforce such contributions.
3. National legislation
Subsequently, each country individually must adopt a national billionaire tax by law. The tax will be mandatory for all billionaires owning assets in their territory, regardless of their residence or citizenship.
4. End of poverty
The collected tax will be transferred to a common fund monitored and managed by the United Nations. The tax will be invested in UN’s priority actions on poverty eradication. For more information about specific initiatives see United Nations.
The World’s 2,043 Billionaires
Human Action’s 10 values represent the ethical stance of our organization put into words. The values will guide the movement and frame our path towards achieving our goal.
Our work is grounded in love, meaning that the capacity to use the power of love to overcome even the strongest resistance working against our vision. It is love that will save our world and civilization
We reject the use of physical violence and call for nonviolence and peaceful behavior in all our actions. We believe that nonviolence is the most powerful means to enact social change.
We need to believe that status quo is changeable, and believe that unitedness can eradicate extreme poverty. Without believing in change, change will never be enforced.
The first condition of humanity is a little humility. Humility towards our fellow humans and to the tasks we will face on our way.
To face the problems of the world and the tasks that lie ahead of us. To have the courage and commitment to stand by our opinions and reach for our goals.
We encourage people to selflessly spend time, money, and labor as a mean for creating better conditions for others.
Conscious capitalism is developed by changing minds to feel empathy and recognize every person's right to life. Empathy involves not accepting extreme inequality, and striving to develop a world where everybody wins.
Real strength requires the ability to forgive; forgive ourselves and those around us. The weak can never forgive - forgiveness is the attribute of the strong.
To overcome misery, we must trust that things will work out the way they are supposed to and facilitate joy in every movement. Without joy, the creativity in our work will be lost.
We practice and value completely open communication, visible actions and honesty. This includes total economic transparency.