John,

Today is Tax Day and guess who’s not paying their fair share in taxes? Billionaires and ultra-millionaires.

The richest 1% of Americans now hold $44 trillion in wealth.¹ And because of our rigged tax system, most of their wealth gains go completely untaxed. In fact, they can go years, if not forever, without paying any taxes on their investment gains―because instead of selling their investments, they can live off of low-cost loans backed up by their enormous wealth.

That means trillions of dollars in investment gains―the principal source of income for the truly wealthy―may never be taxed at all, even when they pass their fortunes along to their heirs.

This hoarding of wealth has resulted in a historic number of American billionaires―806 billionaires now own more wealth than the amount held by the lowest half of the U.S., or 65 million households.² This is not only creating destabilizing levels of income and wealth inequality, but it’s also starving public programs and services of critical tax dollars from the very richest Americans.

This Tax Day, take action and tell Congress to side with low- and moderate-income people, not millionaires, billionaires, and large profitable corporations. Add your name today!

While everyday people are struggling to afford basic necessities such as food, housing, and health care, corporations have seen their profits skyrocket by 63% from 2018 to 2022.³ Meanwhile, new research shows that some of the nation’s largest, most profitable corporations over those same five years paid an average tax rate of about 14%―one-third less than the 21% tax rate paid by average American families.⁴

And what are these massive corporations doing with their record profits? They’re passing them along to wealthy shareholders in the form of stock buybacks and dividend payments while paying their executives hundreds of millions, if not billions of dollars.⁵

Add your name to demand Congress act now to unrig our tax laws and make sure the wealthy and large profitable corporations are paying their fair share in taxes.

When they do, we can invest in our communities and our future.

Thank you for taking action today,

Deborah Weinstein
Executive Director, CHN Action

¹ The wealth of the 1% just hit a record $44 trillion
² As Tax Day Approaches, New Study Finds U.S. Billionaires Now Worth A Record $5.8 Trillion
³ America’s largest companies are fueling inequality, says new study
⁴ Corporate Tax Avoidance in the First Five Years of the Trump Tax Law
⁵ More for Them, Less for US: Corporations That Pay Their Executives More Than Uncle Sam