John,
For decades, the wealthy and well-connected have benefited from tax cuts, while the rest of us have shouldered the burden.
It’s well known that the United States has experienced a troubling trend of tax cuts that disproportionately favor the wealthy and large corporations. This has led to a significant increase in income inequality, as the rich continue to amass wealth while many Americans struggle to make ends meet.
Given this, it’s no surprise that according to a Data for Progress poll, 68% of likely voters support a billionaire tax to fund federal programs and reduce the deficit. This is a clear indication that Americans want change.
It is well documented that the original George W. Bush tax cuts and their extensions have added a staggering $8.4 trillion to the national debt, with the 2017 Trump tax cuts contributing an additional $1.7 trillion in debt through 2023. These two tax cuts alone account for 57% of the increase in the debt ratio since 2001.
This Tax Day, let us come together and take action to address the growing inequality in our tax system. Call on Congress to reverse decades of tax cuts for the well-off and well-connected and to use that revenue to invest in essential social programs that millions of Americans rely on.
The consequences of right-wing tax policies have been detrimental to the nation's financial health and have placed a greater burden on middle-class and lower-income households.
In fact, the top 1% of earners evade $160 billion in taxes each year, and corporate tax revenue as a share of total federal revenue has plummeted from one-third to less than 10% since the mid-20th century.
All of this has left the government with fewer resources to invest in crucial programs such as Social Security, Medicare, Medicaid, healthcare, childcare, aging and disability care, paid family and medical leave, housing, nutrition, and working-family tax credits.
It’s clear that by demanding that the wealthy and corporations pay their fair share, we can generate significant revenue to reinvest in crucial social programs, improve the quality of life for countless people, and foster a more inclusive and prosperous nation.
It's time for us to make our voices heard and demand the change that our country needs. Tell Congress to reverse these tax cuts and ensure that the wealthy and corporations contribute their fair share to the nation's prosperity.
Let's work together to create a better future for all, starting with a fair and just tax system.
- Amanda
Amanda Ford, Director
Democracy for America
Advocacy Fund
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