The Supreme Court kept Elizabeth Warren’s fight for a wealth tax alive

The Supreme Court kept Elizabeth Warren’s fight for a wealth tax alive and well this morning – defying billionaire interests who asked the Court to declare taxing wealth (as distinct from income) unconstitutional.

This should be common sense. When Elon Musk gets paid over $40 billion in stock compensation, and then borrows against those assets instead of cashing out in order to buy Twitter, taxing his 'income' is meaningless.

We need to tax billionaire wealth – every year, like everyone else.

SIGN THE PETITION: Tax wealth! Political leaders should make a wealth tax a priority in the huge tax fight coming up in 2025 when Trump’s tax cuts expire.

We are sharing the growing public demand for a wealth tax with members of Congress!

To be clear, we still face a corrupt and increasingly illegitimate Supreme Court. But in this case, the argument from billionaire interests was so absurd that even this extreme Court didn’t see fit to blow up our tax code.

We have an opening to tax billionaire wealth – please join the fight today.

Thanks for being a bold progressive.

-- The PCCC Team

The plaintiffs in this case, aided by conservative movement lawyers, attempted to preemptively kill an Elizabeth Warren–style "wealth tax" by targeting this rather obscure provision of the 2017 tax cuts bill. SCOTUS overwhelmingly rejects their bid.

In engineering this preemptive challenge to a wealth tax, the plaintiffs and their lawyers made a number of misrepresentations to the Supreme Court that stretched truth to the breaking point; it is gratifying that their underhanded gambit did not succeed.

 

 

 

 


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