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John,
As recently as 2020, 400 of the richest Americans held more wealth than all 10 million Black U.S. households combined.[1] How do we combat runaway wealth and income inequality? Elizabeth Warren’s new Ultra-Millionaire Tax Act!
Senator Warren’s new bill, which was also introduced in the House by Representatives Pramila Jayapal and Brendan Boyle, would unrig our economy and our tax code by taxing households and trusts worth over $50 million―the wealthiest 0.05% of Americans.
With the $3 trillion in revenue this bill would generate, we could invest in public services for the remaining 99.95% of people―creating an economy that works for everyone, not just the wealthy few.
We’re rallying support for Elizabeth Warren’s Ultra-Millionaire Tax Act in the halls of Congress and amongst voters across the country.
Donate today to keep the pressure on Congress to pass the Ultra-Millionaire Tax Act and demand the very wealthiest households finally start paying their fair share.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Together with our champions in Congress, we’re demanding an economy that works for working people, not just the billionaires and ultra-millionaires.
Thank you,
Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund
[1] Black wealth is increasing, but so is the racial wealth gap
-- David's email --
John,
Already, more than 50,000 people have signed on as grassroots co-sponsors of Senator Elizabeth Warren’s Ultra-Millionaire Tax Act―new legislation that would apply a 2% tax on the wealth of households and trusts worth between $50 million and $1 billion and a 3% tax on fortunes exceeding $1 billion.
We’re rallying voters across the country, building support for Senator Warren’s proposed wealth tax in state after state and in the halls of Congress.
The bill would bring in at least $3 trillion in revenue over 10 years without raising taxes on the 99.95% of households with net worths under $50 million. That’s $3 trillion we could use to invest in public services for working families―paid for by ensuring the ultra-wealthy are paying their fair share of taxes.
Can we get to 100,000 signers in the next week? Donate today to power our campaign in support of Elizabeth Warren’s Ultra-Millionaire Tax Act.
America’s 741 billionaires saw their fortunes grow by 78%―or $2.3 trillion―over the first five years of the Trump-GOP tax scam, which handed trillions of dollars in tax breaks to the rich and big corporations.[1] Unfortunately, because the majority of billionaire wealth derives from investments, their massive wealth gains can go years without incurring any taxes. This has resulted in billionaires paying tax rates that are roughly half that of regular Americans.
What do billionaires do with their untaxed fortunes? In the 2022 midterm elections, they spent more than $1 billion in an attempt to maintain our rigged economy and elect mostly right-wing candidates who agree with their vision for America: limited taxes for the wealthy and limited rights for everyone else.[2]
That’s why we’re campaigning for Senator Elizabeth Warren and Representatives Pramila Jayapal and Brendan Boyle’s new Ultra-Millionaire Tax Act of 2024.
In order to enforce this new tax on households worth $50 million or more, the bill would provide the IRS with an additional $100 billion in resources and mandate that at least 30% of these ultra-wealthy households be audited every year. That’s the only way to ensure the nation’s very richest households don’t get away with cheating on their taxes.
Donate today to continue to build national support for Elizabeth Warren’s new Ultra-Millionaire Tax Act of 2024 to fight for an economy and a tax system that holds the ultra-wealthy accountable.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
When we finally tax the wealth of billionaires and ultra-millionaires, we’ll be able to invest in working families and communities―and build an economy that works for everyone, not just those at the top.
Thank you for all that you do to create an economy that works for everyone, not just the wealthy few.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] U.S. Billionaires Now Worth a Record $5.2 Trillion
[2] Billionaire Spending Topped $1 Billion For the First Time in 2022 Elections
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