|
John,
America’s ultra-wealthy families are set to pass down $21 trillion in untaxed fortunes, cementing dynastic wealth for generations.[1] GOP Senator John Thune, who is set to become Majority Leader in 2025, has introduced legislation to eliminate the estate tax entirely, handing billionaires a $167 billion windfall while working families foot the bill.[2]
If Thune gets his way, billionaire heirs will continue to spend their untaxed fortunes on private jets, yachts, lavish lifestyles, and outsized political influence,[3] hoarding wealth while our communities struggle to fund schools, healthcare, and infrastructure.
Senator Bernie Sanders’ For the 99.5% Act would reverse this trend. It strengthens the estate tax, ensures the ultra-rich pay their fair share, and puts a stop to untaxed dynastic wealth that threatens our democracy.[4]
We can’t let the richest families hoard trillions of dollars tax-free while inequality spirals further out of control. Stand with us in our fight to tax billionaires and strengthen our economy.
Tell your senators to pass the For the 99.5% Act and stop billionaires from rigging the economy.
Together, we can stop billionaires from dodging their fair share and build an economy that works for everyone.
John Foti
Legislative Director
Americans for Tax Fairness Action Fund
[1] DYNASTY TRUSTS: GIANT TAX LOOPHOLES THAT SUPERCHARGE WEALTH ACCUMULATION
[2] Trump-GOP Tax Law Closeup: Strengthen Rather Than Weaken The Estate Tax To Curb Dynastic Wealth - Americans For Tax Fairness
[3] Billionaire Nepo Babies: How the Nation’s Wealthiest Inheritors Are Spending Extreme Fortunes
[4] FOR THE 99.5% ACT
-- David's email --
John,
America is facing the largest intergenerational wealth transfer in history. If nothing changes, ultra-wealthy families will pass down $21 trillion in fortunes over the next two decades—while dodging up to $8.4 trillion in taxes.[1]
This is not just unfair; it’s a direct threat to democracy. Billionaires like Timothy Mellon and the Koch heirs are using their inherited wealth to shape politics, buy influence, and rig the system.[2]
Senator Bernie Sanders’ For the 99.5% Act would ensure that the super-rich pay their fair share. His plan would strengthen the estate tax, apply higher rates to multi-million-dollar inheritances, and claw back the untaxed wealth that dynasties have hoarded for decades.[3]
GOP Senator John Thune, set to be the Majority Leader in 2025, has introduced a bill to eliminate the estate tax, a handout to billionaires that would rob our communities of $167 billion in public investments over the next 10 years.[4]
It’s critical that we provide the American people with a clear contrast between runaway income and wealth inequality and plans to restrain untaxed dynastic wealth. Urge your senators to pass Bernie Sanders’ For the 99.5% Act and strengthen the estate tax now.
The estate tax, also known as the "silver spoon tax", only impacts the wealthiest 0.1% of Americans. Yet Republicans are rallying to abolish it, defending the fortunes of billionaire “nepo babies”, like Wyatt Koch, who waste millions on vanity projects while taxpayers foot the bill.[5]
Under Sanders’ plan, estates worth $3.5 million or more would finally face higher tax rates, bringing in billions to invest in healthcare, education, infrastructure, and other programs working families rely on.
The choice is clear: Do we tax the ultra-wealthy or do we let billionaires pass down their fortunes tax-free while our schools, hospitals, and roads crumble?
Tell your senators: Vote to strengthen the estate tax. Pass the For the 99.5% Act.
Let’s tax dynastic wealth, strengthen our communities, and ensure billionaires pay up.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] DYNASTY TRUSTS: GIANT TAX LOOPHOLES THAT SUPERCHARGE WEALTH ACCUMULATION
[2] Meet the Billionaire Nepo Babies Benefiting from Trump Tax Scam
[3] FOR THE 99.5% ACT
[4] Trump-GOP Tax Law Closeup: Strengthen Rather Than Weaken The Estate Tax To Curb Dynastic Wealth - Americans For Tax Fairness
[5] Billionaire Nepo Babies: How the Nation’s Wealthiest Inheritors Are Spending Extreme Fortunes
|
