SIGN our letter calling on the U.S. Congress to pass the Ultra-Millionaire Tax Act and make the wealthy pay their fair share in taxes! (If we have your information already, you will automatically be signed on when you click here) SIGN NOW

Dear Friend,

As most families I know struggle to pay their monthly child care bills and go without paid family and medical leave when a new baby arrives or serious health crisis strikes; the ultra-wealthy 0.01% in this country are blasting space ships into the atmosphere for fun and companies like Tesla are paying practically $0 in taxes, while their CEO Elon Musk walks away with a $4.4 billion paycheck. [1] Must be nice. Certainly isn’t fair!!!

It’s time that wealthy individuals and wealthy corporations pay their fair share in taxes!

***SIGN our letter calling on the U.S. Congress to pass the Ultra-Millionaire Tax Act and make the wealthy pay their fair share in taxes! (If we have your information already, you will automatically be signed on when you click here)

Here’s what’s going on: Last week Senator Elizabeth Warren (MA-D) and Representatives Primila Jayapal (WA-D) and Brendan Boyle (PA-D) introduced the Ultra-Millionaire Tax Act. [2] This important piece of legislation will make the wealthiest 100,000 households in America (or the top 0.05%), pay more of their fair share in taxes by enacting a 2% tax on those with net worths above $50 million, and an additional 1% tax for those with net worths above $1 billion.

Passing this important bill would bring in at least $3 trillion in revenue for 10 years. Imagine what we could do with that money!? We could help make investments in programs that all of our families need like child care, paid family and medical leave, the expanded Child Tax Credit, and aging and disability care.

Simply put: We should not continue to give huge tax breaks to the wealthiest individuals while working families are forced to solve the care crisis on their own. This hurts our economy and families alike. If people like Jeff Bezos, Elon Musk, and Rupert Murdoch paid their fair share in taxes, there would be more than enough to invest in child care, paid family and medical leave, the Child Tax Credit, and aging and disability care.

**SIGN MomsRising’s letter now calling on our elected leaders to pass the Ultra-Millionaire Tax Act ASAP! (If we have your information already, you will automatically be signed on when you click here)

This is a very easy solution to a very big problem. Is your net worth under $50 million? Then you will pay nothing under the new Ultra-Millionaire Tax Act. But if your net worth is between $50 million and $1 billion—you will pay a 2% tax rate. If you make even more than that (lucky you!) you’ll pay a 3% tax rate. This may seem like an impossible bill to pass but we’ve done it before. In 2022, President Biden signed into law the Inflation Reduction Act which, among other things, reversed decades of tax subsidies for the very rich and big corporations and used the money earned by taxing them fairly to pay for health care and climate change initiatives. [2] The Inflation Reduction Act helped reorient the tax code and tax enforcement to do more for real American families and less for the wealthiest 1% and multinational corporations. But now its successes need to be defended and improved upon. We can build on this success but making sure Congress prioritizes the Ultra-Millionaire Tax Act!

The letter we are sending the U.S. Congress states the following:

Dear Member of Congress,

We should not continue to give huge tax breaks to the wealthiest individuals and wealthy corporations while working families are forced to solve the care crisis on their own. If the ultra-rich paid their fair share in taxes, there would be more than enough revenue to invest in child care, paid family and medical leave, the Child Tax Credit, and aging and disability care–programs that all of us will need at one time and lift all families, businesses and our economy.

That is why I am calling on you to endorse and pass the Ultra-Millionaire Tax Act. This important piece of legislation:

• Makes the wealthiest 100,000 households pay a minimum tax on their wealth;
• Requires a 30% IRS audit rate for the ultra-wealthy;
• Raises $3 trillion in revenue over 10 years which we can invest in the care economy.

Sincerely, 

Friend

Don’t forget to sign our letter, and then forward this email to your friends and family and post our action link to social media so we can double down on your action and make our voices heard loud and clear!!

Thank you for standing up for fairness and lifting up our families!
-Elyssa, Hanna, Donna, Kristin and the whole MomsRising.org & MamásConPoder Team

References:
[1] The New Republic. “Elon Musk Leads America’s Top Tax-Dodging CEOs.” March 16, 2024.
[2] “Warren, Jayapal, Boyle Introduce Ultra-Millionaire Tax on Fortunes Over $50 Million.” March 1, 2024.
[3] ITEP. “Celebrating One Year Since the Landmark Inflation Reduction Act.” August 14, 2023.

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