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John,
Did you know that Elon Musk, Jeff Bezos, and Michael Bloomberg paid $0 in federal income taxes in several recent years? Americans for Tax Fairness found out that 26 top billionaires paid an average income tax rate of just 4.8% over 6 recent years. A single American worker faces a net average tax rate of 24.8%.
Every day, the wealth gap in the United States grows larger. The top 1% own roughly one-third of U.S. wealth while the bottom half of Americans own just 2.5%.
Senator Ron Wyden (D-OR) just introduced the Billionaires Income Tax (BIT) in hopes of ending wealth inequality and ensuring that billionaires start paying taxes on their wealth gains each year.
Add your name now to become a grassroots co-sponsor of the Billionaires Income Tax and demand billionaires pay income taxes every year, just like we do.
According to the Joint Committee on Taxation, the Billionaires Income Tax would only apply to taxpayers whose net worth either exceeds $1 billion or whose income exceeds $100 million for three consecutive years. It would apply annually to assets like stocks and private businesses.
Since the Trump-GOP tax scam went into effect in 2018, America’s 700+ billionaires have seen their wealth skyrocket by an astounding $2.3 trillion―or 78%. Combined, America’s wealthiest households are now worth $5.2 trillion, but they pay a fraction of the income-tax rate paid by working people.
Sign on today and become a grassroots co-sponsor of the Billionaires Income Tax. Let’s demand billionaires pay income taxes every year, just like working people do.
We can do it together,
Democratic Values
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