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John,
During the first two years of the pandemic, from July 2020 to July 2022, inflation rose by 14% while corporate profits rose by an astounding 74%.[1][2]
During the first year of the Trump-GOP tax scam in 2018, 34% of large profitable corporations paid nothing in federal income taxes.[3]
Seeing a trend here?
Corporations are raking in record profits on the backs of working people while paying outrageously low tax rates. That’s why, this week, we took action in support of two critical bills: the Shrinkflation Prevention Act introduced by Senators Elizabeth Warren and Bob Casey and the Corporate Tax Dodging Prevention Act introduced by Senator Bernie Sanders and Congresswoman Jan Schakowsky.
Americans for Tax Fairness research shows that corporations are using these record profits and low tax rates to enrich executives and wealthy shareholders instead of allowing those profits to “trickle-down” to working people.[4]
Together, we’re demanding Congress act to hold greedy corporations accountable as they price gouge working people and direct those profits upward toward the very richest Americans.
Power our research and activism today! Donate $5 to continue to hold large profitable corporations accountable and create an economy and a tax code that works for everyday people, not just the wealthy few.
For generations, Republicans and their Wall Street benefactors have tried to sell us on the fantasy of “trickle-down economics”―that somehow when we cut taxes for the rich and corporations, that money will trickle-down to working people.
But the money never trickles down—tax cuts for the rich just make the rich richer. And when the wealthy hoard their wealth by not paying their fair share in taxes it deprives our communities of the resources we need to lower the costs and improve the quality for working families of vital services—from healthcare to education to nutrition to housing and more.
Together, we’re fighting for policies that hold large corporations and the wealthy accountable. Power the fight to unrig our tax code by supporting our research and activism. Donate to Americans for Tax Fairness Action Fund today!
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Thank you for all that you do to create a future that values all of us, not just the wealthy few.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] A SPECIAL REPORT ON GREEDFLATION: NOVEMBER 2023 HOW CORPORATIONS ARE MAKING RECORD PROFITS ON THE BACKS OF AMERICAN FAMILIES
[2] Corporate Profits Contributed a Lot to Inflation in 2021 but Little in 2022—A Pattern Seen in Past Economic Recoveries
[3] NEWS: GAO Study Finds 34% of Large, Profitable Corporations Pay Zero in Federal Income Taxes
[4] More for Them, Less for Us
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