John,
The tax code in the United States is the clearest demonstration of the power of the wealthy elite to manipulate our economic system to their advantage. The blatant inequality embedded in our tax laws allows the rich to grow richer, while the middle and working classes shoulder the burden of funding public services.
This injustice is most evident in the preferential treatment given to investment income and inheritances, which are taxed at a lower rate than the hard-earned income of working people.
It is unconscionable that those who benefit the most from our society's resources are allowed to contribute a disproportionately smaller share of their income to the public good by paying a top marginal rate of just 20% on their capital gains compared to the 37% paid by workers on their income.
There’s no doubt that the current tax code is a mockery of the principle of fairness.
The United States was founded on the promise of equality and opportunity for all, but our tax code is a glaring injustice that has a damaging effect on the very fabric of our democracy.
The wealthy must be made to pay their fair share, and it is the responsibility of our elected representatives to ensure that they do. Tell Congress to put an end to this travesty by equalizing the tax treatment of all income over $1 million now.
The rigged tax system not only violates the principle of fairness but also actively undermines social mobility and economic opportunity for the majority. The preferential tax treatment of investment income and inheritances entrenches wealth inequality and reinforces both privilege and power.
By changing the tax code to treat all income over $1 million equally, Congress can increase social mobility and economic opportunity and that’s why we must dismantle the barriers that perpetuate the concentration of wealth, and pave the way for a more equitable and prosperous future for all.
The bottom line is that when investment income and inheritances are taxed at a lower rate than labor income, it rewards wealth accumulation at the expense of hard work, and education.
Tell Congress to stand up for the middle and working classes and change the tax code to tax all income over $1 million, including investments and inheritance, at the same rate as income earned through labor by signing on now.
We must not waver in our pursuit of a fairer, more just society -- the future of our democracy depends on it.
- Amanda
Amanda Ford, Director
Democracy for America
Advocacy Fund
|