John,

The consequences of rampant tax avoidance are devastating. Every dollar that the ultra-wealthy fail to pay in taxes is a dollar that could have been invested in our communities―lowering the cost of healthcare, child care, education, and housing; building infrastructure and fighting climate change. Instead, nearly two billion people worldwide find themselves trapped in countries where inflation has outpaced wage growth and governments lack the resources to offer a helping hand, exacerbating already stark inequalities.

But we have a chance to reverse economic inequality and invest in our future―not just in the United States, but throughout the world.

Later this year, world leaders will gather at the G20 summit. And the host, Brazil, is calling for other nations to join them in calling for a global billionaires tax. Finance ministers from other countries such as France, Germany, Spain, and South Africa have joined them.[1] But a glaring omission is the United States, especially since President Biden has already called for a minimum tax on billionaire wealth here at home.

Already, we’ve helped generate nearly 140,000 signers urging U.S. Treasury Secretary Janet Yellen to endorse a global billionaires tax. And now Sen. Bernie Sanders and Rep. Ilhan Omar have sent a letter to President Biden and Secretary Yellen to join us.

Add your name and become a grassroots co-signer of the letter to President Biden and Treasury Secretary Yellen from Bernie Sanders and Ilhan Omar calling on the administration to support a global billionaires tax.

Together, we’re fighting for tax fairness at home and abroad in our struggle for an economy that works for everyone, not just the wealthy few.

John Foti
Legislative Director
Americans for Tax Fairness Action Fund

[1] Ministers of Germany, Brazil, South Africa and Spain: why we need a global tax on billionaires

-- David's email --

John,

Sen. Bernie Sanders and Rep. Ilhan Omar are taking a bold stand for tax fairness on the international stage. In a letter addressed to President Biden and Treasury Secretary Yellen, they urged the administration to support a groundbreaking initiative gaining traction among G20 nations: a global minimum tax on billionaires.

This proposal comes at a critical juncture in the fight against extreme wealth inequality. Across the globe, the ultra-rich continue to amass staggering fortunes while paying a mere fraction of the taxes they should pay. In the United States alone, the wealthiest billionaires pay an effective tax rate—when all their income is counted—of just 8.2%.[1] Abroad, the situation is even more egregious, with some billionaires paying as little as 0-0.5% of their wealth in taxes.[2]

But there is hope on the horizon. The growing push for a global billionaire tax represents a once-in-a-generation opportunity to reshape the international tax system and ensure that the wealthiest finally pay their fair share. By establishing a worldwide minimum tax rate for billionaires, we can put an end to the race to the bottom that has allowed the ultra-rich to shirk their responsibilities for far too long.

Already, along with our allies, we’ve generated 137,000 signatures urging U.S. Treasury Secretary Janet Yellen to endorse a global billionaires tax. And now members of Congress are joining our call to action.

Add your name now to become a grassroots co-signer of Bernie Sanders and Ilhan Omar's letter to President Biden and Treasury Secretary Yellen to endorse a global minimum tax on billionaires at the G20 summit later this year.

Powerful special interests will stop at nothing to maintain the status quo, pouring vast sums into lobbying efforts to keep their tax bills low and their fortunes high. But with your support, we’re mounting an unrelenting grassroots campaign to counter their influence and keep up the pressure on the Biden administration to act boldly and decisively on the global stage.

President Biden has already proposed a Billionaire Minimum Income Tax here at home. Now we need Biden and Yellen to endorse a global minimum tax on billionaires.

Crucially, this initiative enjoys overwhelming popular support. A recent poll of millionaires across G20 countries found that 75% support a 2% wealth tax on billionaires, with a majority recognizing that extreme wealth concentration poses a threat to democracy itself.[3]

That's where the United States comes in. As a global economic leader, it has a unique opportunity―and responsibility―to spearhead this transformative effort. By throwing its full support behind a global billionaires tax, the Biden administration can cement its legacy as a champion of economic justice and help pave the way for a more equitable future for all.

This is a watershed moment in the fight for tax fairness, and we need your help to seize it. Join the call for a global billionaires tax by becoming a grassroots co-signer of the Sanders-Omar letter today.

Together, we can send an unmistakable message to President Biden and Secretary Yellen: the American people stand firmly behind a global minimum tax on billionaires.

Thank you for taking action today,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] New OMB-CEA Report: Billionaires Pay an Average Federal Individual Income Tax Rate of Just 8.2%
[2] Global Tax Evasion Report 2024
[3] Patriotic Millionaires G20 Survey