Billionaires Urge Taxing the Wealthy to Combat Inequality
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Benzinga
- Global Inequality Warning: Nearly 400 billionaires issued an open letter at the Davos summit, emphasizing that extreme wealth is undermining democracy and stability, calling for taxes on the wealthy to address rising inequality.
- Wealth Concentration Issue: The letter states that the richest 1% own more wealth than 95% of the global population combined, highlighting the severe implications of wealth concentration, particularly its erosion of democratic institutions.
- Public Support Survey: An Oxfam poll revealed that 77% of surveyed millionaires believe extreme wealth buys political influence, while over 60% view it as a threat to democracy, supporting higher taxes on the super-rich to fund public services.
- Call for Structural Change: The letter stresses that only through taxing extreme wealth can funding for healthcare, education, and housing be restored, reducing the political power that comes with wealth concentration, thereby rebuilding the future of democracy and communities.
Analyst Views on DIS
Wall Street analysts forecast DIS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DIS is 137.29 USD with a low forecast of 123.00 USD and a high forecast of 152.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 110.610
Low
123.00
Averages
137.29
High
152.00
Current: 110.610
Low
123.00
Averages
137.29
High
152.00
About DIS
The Walt Disney Company is a diversified worldwide entertainment company. The Company's segments include Entertainment, Sports and Experiences. The Entertainment segment generally encompasses its non-sports focused global film and episodic content production and distribution activities. The lines of business within the Entertainment segment along with their business activities include Linear Networks, Direct-to-Consumer, and Content Sales/Licensing. The Sports segment encompasses its sports-focused global television and direct-to-consumer (DTC) video streaming content production and distribution activities. The lines of business within the Sports segment include ESPN and Star. The Experiences segment includes Parks and Experiences and Consumer Products. Parks and Experiences consists of Walt Disney World Resort in Florida, Disneyland Resort in California, Disney Cruise Line, and others. Consumer Products includes licensing of its trade names, characters, visual, literary and other IP.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
