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John,
Just in the last two weeks, Democrats in the House and Senate have introduced two bills that would tax the wealth gains of billionaires and ultra-millionaires. The details are a little different, but the premise is the same: Making the richest 0.1% pay income taxes each year, just like working people pay on their wages.
And the American people are with us! Polling shows that 74% of voters―including majorities of Democrats, Independents and even Republicans―support an annual tax on billionaire wealth gains.1 These policies could be an important step to reduce wealth inequality―and start to close the racial wealth divide―while ensuring we can invest in our communities.
We’re building support in the halls of Congress and we need your support. Donate today to demand Congress pass the Billionaires Income Tax, which would raise at least $557 billion over ten years from America’s wealthiest households.2
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Between 2018, when the Trump Tax Scam went into effect, and last month, America’s 741 billionaires have seen their wealth skyrocket by an astounding $2.3 TRILLION―or 78%.3 And, combined, America’s wealthiest households are now worth $5.2 trillion.
Together, we’re demanding an economy that works for regular people, not just those on top.
Meredith Dodson
Senior Director of Public Policy, Coalition on Human Needs
1 Polling Compilation: Billionaires Income Tax Plans
2 Wyden Statement on Billionaires Income Tax Score
3 U.S. Billionaires Now Worth a Record $5.2 Trillion
--DEBORAH'S EMAIL --
John,
As Congress negotiates a full-year 2024 spending agreement, conservatives like to claim that we can’t afford investments that lift up vulnerable families and communities. Their answer is to cut programs and services rather than raising any new revenue from those who can most afford it: billionaires and ultra-millionaires.
By an overwhelming margin, the American people support taxing the wealth gains of those at the very top. Polling shows that 74% of voters―including majorities of Democrats, Independents and even Republicans―support a Billionaires Income Tax.1
When billionaires start paying taxes each year, just like working people do, we can invest in critical programs that lift up Black, brown, and other communities of color, low-income communities, the aging, people with disabilities, and all vulnerable people.
The American people are with us! Donate today to build support in Congress for the Billionaires Income Tax―a bill that would tax the wealth gains of billionaires each year, just like working people pay on their wages.
DONATE
Research shows that over 6 recent years, 26 top billionaires paid an average income tax of just 4.8% when all of their income is counted.2 That’s far less than the top marginal tax rate of 37% and less than many working families pay.
The Billionaires Income Tax would apply to individuals whose net worth either exceeds $1 billion or whose annual 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.
It’s time for billionaires and multi-millionaires to pay taxes on their wealth gains each year, just like working people pay on their wages. Donate today to fight for the Billionaires Income Tax!
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Together, we’re fighting for a society that invests in low-income and working people, paid for by making the wealthy pay their fair share in taxes.
Thank you,
Deborah Weinstein
Executive Director, Coalition on Human Needs
1 Polling Compilation: Billionaires Income Tax Plans
2 BASED ON THEIR WEALTH GROWTH, 26 TOP BILLIONAIRES PAID AN AVERAGE INCOME TAX RATE OF JUST 4.8% OVER 6 RECENT YEARS
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