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John,
From Florida to North Carolina to Ohio, states are seeing the negative impact of undertaxing the rich and corporations. From funding shortfalls to inadequate teacher pay, insufficient taxes on the richest 1% and corporations are hurting our communities.
On the flip side, states that properly tax their richest residents and companies are reaping the benefits. Massachusetts, for example, is enjoying a windfall of revenue after implementing a “Millionaires Tax” last year.
The American people overwhelmingly support taxing the rich and corporations, but Wall Street-funded politicians continually look to cut taxes for their wealthy campaign contributors, resulting in rising debt that’s then used as an excuse to cut critical services for working families.
Write to your governor and state legislators today and urge them to reject trickle-down economics and instead pass policies that make the rich and corporations pay their fair share in taxes.
Thank you for taking action today to fight for an economy that works for everyone, not just the wealthy few.
Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund
-- David's email --
John,
State tax policy can have just as much impact on working families—for good or ill—as federal tax policy.
In North Carolina, tax cuts on the wealthy and corporations are projected to cost the state $13 BILLION in lost public revenue PER YEAR.[1] That’s $13 billion less available to make healthcare more affordable, child care more accessible, and housing more available for average North Carolinians.
In Ohio, tax cuts for the rich and corporations are resulting in a state budget shortfall, as the richest 1% of Ohioans pay $50,000 less in taxes today than they did 20 years ago. What’s worse, low-income Ohioans are paying two times as much of their income in state and local taxes as the rich.[2]
How is the loss of revenue felt in other communities? In Florida, which is the 3rd largest state in the country, and where millionaires pay a tax rate of just 2.7%, teacher pay is ranked 42nd in the country.[3]
This is what happens when Wall Street-bought politicians enact tax cuts for the rich and corporations and pay for them with cuts to services working families need and deserve.
But state tax policy can also make a positive difference. Massachusetts is in the first year of its new “Millionaires Tax”, which has already generated $1.8 billion in revenue―$800 million more than projected. This is money that can be used to lower costs and improve services for working families in areas including: education, transportation, nutrition, and more.[4]
Write to your governors and state legislators now and tell them to reject trickle-down economics and instead tax the rich!
Taxing the rich is both good policy and good politics. In fact, nationally, raising taxes on the wealthy and corporations is supported by 79% of voters, including 63% of Republicans.[5] And, in North Carolina, 77% of voters reject the elimination of the corporate income tax, which is planned for 2030.[6]
Time and again, whether it’s the current-day Trump-GOP tax scam or tax cuts from the Reagan-Bush era, trickle-down economic policies have driven up debt that conservative politicians then shamelessly use as an excuse to cut investments in working people and communities.
Send a message to our governor and state legislators today and urge them to reject trickle-down economics and instead tax the rich!
Together, we’re reminding politicians across the country that the American people overwhelmingly support making the rich and corporations pay their fair share in taxes.
Thank you for taking action today,
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] North Carolina’s Tax Cuts Are a Warning, Not a Model for States
[2] Ohio Governor Says Tax Cuts Are Causing Revenue Shortfall
[3] Better Tax Codes Help Boost Teacher Pay
[4] Here’s how much the new ‘millionaires tax’ has raised this year (it’s a lot)
[5] Four in Five Support Raising Taxes on the Rich and Big Corporations
[6] NEW POLL: North Carolinians Reject Tax Cuts For Profitable Corporations And The Wealthy Few, Want Legislators To Fund People’s Priorities
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