This is Senator Ron Wyden, Chair of the Senate Finance Committee which
writes tax legislation.

I just introduced my billionaires tax bill with lots of cosponsors and
support from the PCCC and over a hundred other organizations.

You can only have a successful economy if you have a tax code that treats
everyone fairly. But America’s tax code is riddled with loopholes that
allow the ultra-wealthy to get away without paying their fair share.

My billionaires tax bill will make those at the very top start paying
their fair share, just like the rest of us.

This bill would only apply to the 700 richest people in America. Because
of their staggering wealth, it would raise hundreds of billions of
dollars, which could be used to help shore up funding for vital programs
like Social Security and Medicare.

[ [link removed] ]Sign on here to show your support for the "Billionaires Income Tax
Act." I’ll show other senators your support as I work to get even more
sponsors.

My billionaires tax combats the loophole that I call "buy, borrow, die:
that works like this:

Buy: A billionaire uses their wealth to buy assets that appreciate in
value such as real estate, stocks, artwork, and collectibles.

Borrow: The billionaire then borrows against the growing, untaxed value of
those assets to fund their extravagant lifestyle. When they buy yachts, go
on luxurious vacations, decorate their mansions with expensive works of
art…they use the money they borrowed instead of regular income they would
have to pay taxes on.

Die: After the billionaire’s death, when the assets are eventually passed
onto their spouse or children, the tax owed on the accumulated value of
the assets disappears. They can be sold tax-free.

[ [link removed] ]If you support the "Billionaires Income Tax Act," please sign on here.
Your support will help me show my colleagues that Americans overwhelmingly
want Congress to make billionaires pay their fair share.

I'll be sure to keep you updated on our progress as we move forward toward
a more fair and just tax system where billionaires pay their fair share.

-- Senator Ron Wyden (D-Oregon)

 

 

 

 

 


Paid for by the Progressive Change Campaign Committee PAC (www.BoldProgressives.org) and not authorized by any candidate or candidate's committee. Contributions to the PCCC are not deductible as charitable contributions for federal income tax purposes.Have you moved? Want to update your email address? Click below.

[link removed]

You can unsubscribe from this mailing list at any time:

[link removed]