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John,
Did you know that in some years billionaires such as Elon Musk, Jeff Bezos, and Michael Bloomberg pay $0 in federal income taxes, even as income from their wealth skyrockets?[1]
That’s not just a lower tax rate than nurses, firefighters, and teachers pay—that’s a lower dollar amount in those years!
We’re demanding billionaires (and ultra-millionaires) pay federal income taxes each year, just like working people do on their wages.
Donate today to fight for the Billionaires Income Tax, which was introduced this past week and, thanks to you, already has 16 Senate co-sponsors.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
At a time when billionaires have seen their wealth grow by 78%―or $2.3 trillion―since 2018, it’s critical that we tackle runaway billionaire wealth, which contributes to rising levels of inequality.[2]
When billionaires finally start paying their fair share in taxes, we can make critical investments in working people, lowering costs on everything from health care to energy to housing.
Together, we’re demanding a tax code that works for everyone, not just the wealthy few.
Thank you,
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
[2] U.S. BILLIONAIRES NOW WORTH A RECORD $5.2 TRILLION
-- Maura's email --
John,
According to Americans for Tax Fairness research, 26 top billionaires paid an average income tax rate of just 4.8% over 6 recent years when all their income is counted―far less than the top income tax rate of 37%.[1]
This is because the ultra-wealthy’s largest source of income each year is the growth of the value of their investments. And, unlike income from work, investment income isn’t taxed until the investment is sold.
The ultra-rich shouldn’t get away with paying lower tax rates than regular working people. That’s why we’re building massive support for the newly introduced Billionaires Income Tax.
Thanks to our work together, 16 senators have already signed-on to this bill. And thousands of grassroots supporters have signed-on as grassroots co-sponsors, demanding Congress act.
At a time when America’s 741 billionaires are worth a record $5.2 trillion, we’re demanding they pay taxes on their wealth gains each year, just like working people pay on their wages from work.[2]
Donate today to power our campaign and demand Congress pass the Billionaires Income Tax!
The Billionaires Income Tax would apply to taxpayers whose net worth either exceeds $1 billion or whose income exceeds $100 million for three consecutive years. It would be applied annually to the increased value of easily priced assets like stocks, and to the increased value of harder to price assets like private businesses when they are sold.
According to the Joint Committee on Taxation, the Billionaires Income Tax would raise $557 billion over 10 years, allowing us to invest in working people and lower costs on everything from healthcare to energy to housing.[3]
We’re building support for the Billionaires Income Tax with voters across the country and in the halls of Congress. Donate today to power our campaign and demand Congress act.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Thank you for fighting by our side for a tax system where billionaires and ultra-millionaires finally start paying their fair share.
Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund
[1] BASED ON THEIR WEALTH GROWTH, 26 TOP BILLIONAIRES PAID AN AVERAGE INCOME TAX RATE OF JUST 4.8% OVER 6 RECENT YEARS
[2] U.S. BILLIONAIRES NOW WORTH A RECORD $5.2 TRILLION
[3] Wyden Statement on Billionaires Income Tax Score
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