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Walgreens executive and Disney heir back higher taxes for the wealthy at Davos

EditorRachael Rajan
Published 01/18/2024, 11:19 AM
Updated 01/18/2024, 11:19 AM

DAVOS - John Driscoll of Walgreens Boots Alliance (NASDAQ:WBA), along with other affluent figures such as Disney heir Abigail Disney, have voiced their support for increased taxation of the wealthy at the Davos summit. This stance is part of a broader initiative titled "Proud to Pay More," advocating for tax reforms to address income inequality.

Driscoll, who is recognized for implementing a $15 minimum wage at CareCentrix, referenced a study by the Economic Policy Institute that reveals a stark CEO-to-worker pay ratio of 399:1. This statistic serves as a powerful argument for the proponents of tax reform, emphasizing the significant disparity in earnings between executives and average workers.

The push for tax equity comes alongside recent successes by the IRS in targeting tax evasion among high earners. The agency has reported progress in its enforcement efforts, collecting $122 million from millionaires who owed back taxes. This crackdown on tax avoidance by the wealthy is a tangible step towards the equitable tax system that Driscoll and his peers are championing.

The campaign at the Davos summit reflects a growing sentiment among some of the world's affluent individuals that they should contribute more to the public coffers. With influential advocates like Driscoll and Disney publicly supporting such measures, the conversation around tax reform and economic equity is gaining prominence on the global stage.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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