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John,
Did you know that billionaires pay just an 8% federal income tax rate, when taking all of their investment income into account?
Tomorrow is Tax Day, a day when working people do our patriotic duty and pay our fair share in taxes to invest in our communities. But as ProPublica revealed in 2021, some of America’s wealthiest people can go years without paying any federal income taxes because—unlike workers who are taxed on their income as they earn it—billionaires can defer paying taxes on much of their income, sometimes forever.[1]
With your help, we’re building a national movement to change that, demanding that Congress fix our tax code so that millionaires and billionaires start paying their fair share. And it’s working!
Polling shows that 74% of likely voters―including majorities of Democrats, Republicans, and Independents―support a Billionaire Minimum Income Tax, which would guarantee that billionaires pay at least a 25% tax rate on all their income each year, including their increased wealth.[2]
Already, more than 45,000 people have signed our petition telling Congress: This Tax Day, raise taxes on the rich and corporations; don’t cut services for working families.
We’re fighting for a tax code that puts working people, not millionaires and billionaires first. Pitch in today to keep the pressure on Congress to listen to the American people and act!
While there is widespread support among voters for raising taxes on millionaires and billionaires, conservatives in Congress continue to rig our tax code in favor of their wealthy campaign contributors―arguing for cuts to critical programs over raising taxes on the rich and powerful. In fact, today, Speaker Kevin McCarthy headed to Wall Street to unveil his proposal to add even more stringent work requirements to SNAP food stamp benefits, which would result in millions of low-income working people losing nutrition benefits.[3]
Conservatives claim their proposals to cut Social Security, Medicare, Medicaid, SNAP, education, housing, and more are in response to our federal debt. But, according to a new report from the Center for American Progress, it was tax cuts enacted under Presidents George W. Bush and Donald Trump―disproportionately benefiting the wealthy and profitable corporations―that are major drivers of our debt.[4]
Donate today to tell Congress that the American people overwhelmingly support raising taxes on the rich and corporations, not cutting services for working people.
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Thank you for all that you do to build an economy and a tax system that works for everyone, not just the wealthy few.
Sarah Christopherson
Legislative and Policy Director
Americans for Tax Fairness Action Fund
[1] “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax,” ProPublica, June 8, 2021
[2] “Polling Compilation: Billionaires Income Tax Plans,” Americans for Tax Fairness, Oct. 5, 2022, and Impact Research Polling Memo, Sept. 20, 2022
[3] “SNAP in the cross hairs,” Politico, Apr. 17, 2023
[4] “Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio,” Center For American Progress, Mar. 27, 2923
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