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Time of India
13 hours ago
- Business
- Time of India
Why are Venetians mad at Jeff Bezos? Giant banner unfurled in city ahead of his wedding demands he pay more taxes
As Jeff Bezos prepares for a luxurious wedding in Venice, activists have crashed the party. Venetians publicly and loudly voice their displeasure with growing citywide protests, triggered by the couple's extravagant event. In the midst of Venice's ongoing battle with overtourism, residents are objecting to Jeff Bezos and Lauren Sanchez's lavish wedding, claiming it is disruptive. Why are Venetians against Jeff Bezos' luxurious wedding? A massive banner of the billionaire was unfurled on Monday in St. Mark's Square, urging him to pay higher taxes. Locals are unimpressed with rising living costs and overtourism, as per a report by Newsweek. Ahead of Jeff Bezos' $15-20 million wedding in Venice, Greenpeace and "Everyone Hates Elon" activists displayed a banner demanding that he pay more taxes. Locals are frustrated because billionaires like Bezos crowd the city with events that benefit only a wealthy few, making life difficult for ordinary Venetians. Live Events Although the city and regional officials who approved the wedding claim that it will boost the city's reputation and economy, locals who are already dealing with excessive tourism and growing housing expenses are dubious. Will protests disrupt The Big Day? According to Marta Sottoriva, an activist with the group "No Space for Bezos," "life is getting increasingly difficult in Venice," reported Newsweek. This weekend, the demonstrators intend to interrupt the wedding by plunging into the canal's waters, claiming that the groom is the target of their ire rather than the ceremony. They contend that Bezos is the third richest man in the world and that he has amassed his fortune by taking advantage of workers and resources. "It's a protest against Bezos; he's not welcome in Venice," she stated. ALSO READ: Ariana Grande amplifies AOC's call to impeach Trump — fans say she should be deported; what is her descent? What do the activists want? The massive wealth of Bezos, which demonstrators claimed should be taxed more than it is now, is the main focus of the new banner that was unveiled in St. Mark's Square on Monday. "Jeff Bezos can afford to close half a city for days on end just to get married, while governments struggle to pay for public services and discuss difficult decisions. This is a clear indication that billionaires like Bezos ought to pay wealth taxes," a representative for Everyone Hates Elon told Newsweek in a statement. There are more billionaires than ever before, while regular people find it difficult to make ends meet. There is a clear correlation between their increasing wealth and our struggles. Sea levels are rising at an alarming rate, and human activity and climate change are causing Venice to sink. Protesters are demanding equitable, inclusive regulations to stop billionaires from avoiding accountability. Greenpeace activist Clara Thompson contends that the true problem is a flawed system that lets billionaires avoid paying taxes while everyone else is forced to pay the price. According to reports, Bezos pays a 1.1% true tax rate, despite being the second-richest person in the world after Elon Musk. FAQs Why are the Venetians upset about Jeff Bezos' wedding? They argue that it only benefits a wealthy few and puts a strain on the city, which is already dealing with overtourism and rising costs. What are the activists demanding? Increased taxes on billionaires like Bezos, arguing that it is unfair that ordinary people bear the economic burdens.
See - Sada Elbalad
27-03-2025
- Business
- See - Sada Elbalad
Trump to Announce New Tariffs on Auto Imports
Taarek Refaat The White House said on Wednesday that US President Donald Trump will announce new tariffs on auto imports later in the day. White House Press Secretary Caroline Leavitt said Trump will unveil the new tariffs during a press conference in the Oval Office at 4 p.m. EST. Trump hinted on Monday that the auto tariffs could be imposed before April 2, the day his sweeping "reciprocal tariff plan" is scheduled to take effect, according to CNBC. "We'll be announcing that soon, probably in the next few days, and then by April 2, there will be reciprocal tariffs," the US president said at a Cabinet meeting. US stock indexes fell to their lowest levels on Wall Street on Wednesday after the announcement of the new tariff plans. Trump has repeatedly mentioned his plans to impose steep tariffs on his foreign trading partners. But his unpredictable and ever-changing policies have sparked turmoil in the stock market and left business leaders uncertain about how to plan for the future. The US President has promoted April 2nd as "Liberation Day" and "The Big Day." His plan, as initially described, includes imposing reciprocal tariffs on all countries that impose tariffs on US goods, in addition to imposing tariffs in response to other undesirable trade policies, such as the use of value-added taxes. However, Trump and his officials have recently indicated that the tariffs imposed on April 2nd may be more flexible than initially appeared. The US President said on Friday that "there will be flexibility" regarding those tariffs, and on Tuesday evening, he hinted that the tariffs would be "more lenient than reciprocal." US Treasury Secretary Scott Besant said last week that countries could negotiate in advance with the United States to avoid facing new tariffs on April 2nd. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
