Hi,

The best time to pass a billionaire wealth tax was yesterday, the second best time is today.

Even President Biden has recognized the urgent need for this reform and has called for a billionaire tax in both his State of the Union Address and his budget. It’s time for Congress to follow his lead and take action to make sure the ultra-wealthy pay their fair share.

Sign the petition: Congress, we must stop billionaires from freeloading off working people, and make them pay what they owe!

According to recent reports, the 400 wealthiest individuals in America have more wealth than the bottom 64% of the population combined.1 This level of inequality is unacceptable and unsustainable in a democracy. When billionaires’ wealth is taxed, we will be able to redistribute some of this wealth and we can provide critical funding for programs that are part of the social safety net.

Billionaires in the United States saw their total wealth grow by $5 trillion during the pandemic!2 Yet, they paid about an 8% federal income tax rate. That’s less than most ordinary Americans pay.3

The billionaire tax would increase the tax rate on the wealthiest Americans, particularly those with assets over $1 billion. This revenue could be directed to fund education, health care, and infrastructure. By ensuring that the ultra-wealthy pay what they truly owe, we can build a livable society for working people.

Sign the petition: Tell Congress to tax billionaire wealth!

Thanks for taking action,

Miguel and the team at Demand Progress

Sources:
1. Forbes, “The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country, Study Finds,” November 9, 2017.
2. CNN, “Billionaires added $5 trillion to their fortunes during the pandemic,” January 16, 2022.
3. The White House, “President’s Budget Rewards Work, Not Wealth with new Billionaire Minimum Income Tax,” March 28, 2022.

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