[ [link removed] ]IT'S TAX DAY. Sign the petition to finally make the ultrawealthy pay
what they owe!

Dear MoveOn member, 

Republicans and Donald Trump passed a tax scheme in 2017 to benefit the
ultrawealthy and corporations—and now everyday Americans are paying the
price, literally. While 78% of Americans struggle living paycheck to
paycheck, the 400 richest people added another $500 BILLION to their $4.5
TRILLION net worth last year alone.^1,2 All while shifting the burden onto
the rest of us and underfunding education, health, jobs, infrastructure,
and other critical social safety nets.

[ [link removed] ]We're done letting billionaires and the ultrawealthy cut corners and
evade paying what they owe. It's time we fix our broken tax system and
demand that the wealthy pay up, like the rest of us.

Billionaires like Jeff Bezos exploit the already rigged tax system to pay
a lower tax rate than the rest of us. In fact, Bezos—one of the richest
men in the world—used tax loopholes to avoid paying federal income taxes
altogether not just once but twice! And Elon Musk and Michael Bloomberg
have also evaded paying taxes in the past.^3^ It's clear: The system is
set up to benefit the wealthy at the expense of the rest of us. But there
is a solution to unrig it and make our tax system—and our country—more
fair and equitable: a wealth tax.

[ [link removed] ][IMG]

The Ultra-Millionaire Tax Act, introduced by Senator Elizabeth Warren,
Representative Pramila Jayapal, and Representative Brendan Boyle, is
estimated to bring in $3 TRILLION in revenue over 10 years, without
raising taxes on households with a net worth below $50 million.^4 And it
does it just by requiring the wealthiest 100,000 households in America—the
top 0.05%—to pay their fair share.

That's $3 trillion that could be used to finally get what we deserve out
of our tax system. Health care for all. Fully funded public education.
Free public transportation. Federal paid family and medical leave. That's
$3 trillion invested in working families, the backbone of our country and
our economy. 

The majority of Americans support a wealth tax.^5 The Biden administration
has pushed a billionaire tax. And now we have a viable path to tax the
ultrawealthy introduced in both the House and Senate.^6 

[ [link removed] ]The movement to finally make the wealthy pay what they owe is growing,
but we have to keep up the pressure. Add your name to the petition to
demand Congress pass the Ultra-Millionaire Tax Act NOW!

Billionaire wealth has unprecedentedly DOUBLED over the past six years,
with the ultrarich hoarding a staggering $8.5 TRILLION in untaxed
wealth.^7,8 It's time to tax the ultrawealthy and reinvest in everyday
families!

[5]Sign the petition

Unsurprisingly, the majority of Americans are dissatisfied with how they
are being taxed and what their tax dollars are being used for.^9,10 And
that's because our tax system is outdated and backward. The richest people
in our country are given tax breaks (did you know there’s a deduction for
yachts?) or simply not taxed on their wealth.^11 And if that isn't
egregious enough, some millionaires and billionaires are simply refusing
to pay the taxes they do owe, evading more than $150 billion in taxes
annually.^12 Meanwhile, Republicans in Congress misappropriate our
hard-earned tax dollars, cutting and voting down public services that
would actually benefit everyday Americans.^13

[ [link removed] ]It's hard to generate wealth when most people in America are just
working to make ends meet. Congress needs to take action NOW and make the
wealthiest people in our country pay what they owe, like the rest of us.
Click here to add your name to the petition.

Our tax system is rigged in favor of the rich partly because it is
centered around income, not wealth. Income is what you earn every
paycheck. Wealth, however, is the total of your assets. Think of your
house (or, for the ultrawealthy, multiple multimillion-dollar houses),
cars, stocks, and bonds. Assets that not only have value, but grow in
value. Wealth is being passed down from generation to generation, and
people are living off of it—tax free. The hoarding of wealth is driving
inequality in our country, benefiting the wealthy few at the expense of
the rest of us. 

And the wealth gap is worsening existing racial and economic inequalities
in the United States. Wealth inequality is inextricably linked to racial
inequality. In order to amass wealth, you need to not only acquire it but
have the time for it to grow. And because systemic racism impacts
everything from employment to home ownership to financial literacy, Black,
Indigenous, Latinx, and Asian communities are decades, even centuries,
behind. In fact, the Forbes 400 richest Americans own more wealth than all
Black households combined.^14 [ [link removed] ]The ultra-millionaire tax is about
closing the racial wealth gap and leveling the playing field once and for
all.

We can make our tax system actually work for everyday families and invest
back into our communities so that everyone can thrive. But that means
rebalancing the scales and making the system more fair and more equitable.
And that means making the wealthiest people in our country pay up.  

[ [link removed] ]Make sure this tax season is the last one when the ultrarich avoid
paying what they owe. Click here to sign the petition and urge Congress to
pass the Ultra-Millionaire Tax Act NOW, and then share with three friends.

Thanks for all you do. 

–Aliya, Nakia, Rahna, Madeleine, and the rest of the team

Sources: 

1. "Living Paycheck To Paycheck Statistics 2024," Forbes Advisor, April 2,
2024
[ [link removed] ][link removed]

2. "Updates: Billionaire Wealth, U.S. Job Losses and Pandemic Profiteers,"
Inequality.org, March 18, 2024
[ [link removed] ][link removed]

3. "Summary of ProPublica's Report on Billionaire Tax Dodgers," Americans
for Tax Fairness, accessed April 9, 2024
[ [link removed] ][link removed]

4. "Warren, Jayapal, Boyle Reintroduce Ultra-Millionaire Tax on Fortunes
Over $50 million," Elizabeth Warren, March 19, 2024
[ [link removed] ][link removed]

5. "Average American Remains OK With Higher Taxes on Rich," Gallup, August
12, 2022
[ [link removed] ][link removed]

6. "Elizabeth Warren and others on progressive Left reintroduce
'ultra-millionaires' tax," Washington Examiner, March 19, 2024
[ [link removed] ][link removed]

7. "The Ultra-Wealthy’s $8.5 Trillion of Untaxed Income," Americans for
Tax Fairness, January 3, 2024
[ [link removed] ][link removed]

8. "As Tax Day Approaches, New Study Finds U.S. Billionaires Now Worth A
Record $5.8 Trillion," Americans for Tax Fairness, April 8, 2024
[link removed]

9. "Americans' Satisfaction With Federal Taxes on Low Side," Gallup,
January 22, 2015
[ [link removed] ][link removed]

10. "Fact Check Team: Poll reveals dissatisfaction and mistrust in
government over tax spending," The National Desk, February 1, 2024
[ [link removed] ][link removed]

11. "The rich get government handouts just like the poor. Here are 10 of
them," The Washington Post, April 9, 2015
[ [link removed] ][link removed]

12. "Tax evasion by millionaires and billionaires tops $150 billion a
year, says IRS chief," CNBC, February 23, 2024
[ [link removed] ][link removed]

13. "Do You Know Where Your Federal Tax Dollars Go?" Bipartisan Policy
Center, January 31, 2024
[link removed]

14. "Dreams Deferred," Institute for Policy Studies, January 15, 2019
[ [link removed] ][link removed]

 

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It was created on MoveOn.org, where anyone can start their own online
petitions. You can [ [link removed] ]start your own petition here.



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