The Trump tax and tariff scheme will cost working families over $13,000. We’re fighting back this Labor Day with your help.
John,
Trump’s economic plan is not just unfair. It is dangerous. It will cost working families billions in lost wages, benefits, and services. The poorest Americans stand to lose an average of $27,000 over the next decade.[1] This is economic theft dressed up as policy.
At the same time, Trump’s billionaire allies are getting richer. The top 10 percent of households, those making on average $500,000 or more, will see huge financial windfalls. The top 1 percent will pocket over $660,000 each from tax cuts alone. The people who funded Trump’s campaign are writing the rules for the rest of us.
This Labor Day, we must call out this rigged system. The U.S. tax code favors capital over labor. Wages are taxed more than investment income. Billionaires avoid taxes entirely by using loopholes like Buy, Borrow, Die. They borrow against their investments to live tax-free, then pass it all on without paying a dime on their investment gains.[2]
It is time to demand a system that values real work. A fair tax code would tax wealth gains, close loopholes, and invest in healthcare, education, and infrastructure for all. Instead, Trump and his backers are plotting to eliminate those services entirely and call it efficiency.
We are not facing a policy debate. We are facing a war on working people. And this Labor Day, we are organizing to fight back.
This Labor Day, thousands are taking to the streets under the Workers Over Billionaires banner. These rallies are a direct rejection of Trump’s billionaire-first agenda. They represent a growing movement to restore fairness and dignity to our economy.
We are backing this grassroots uprising with research, organizing, and relentless public pressure. From tax-cheat audits to legislative fights, we are holding the line. But we need your help to keep going. It takes resources to battle billionaires.
Every time we speak out, the billionaire class works to silence us. But your support keeps us strong. Help us expand this fight beyond Labor Day and into every statehouse and congressional office in the country.
Labor Day is a time to honor workers across America, and it's the best time to call out the billionaire-backed policies that punish working people while rewarding the ultra-rich. Our latest analysis shows how the Trump-GOP tax and tariff scheme will cost 90 percent of American families an average of $13,600 over the next 10 years. The bottom 10 percent—who can least afford it—will lose more than double that.[1]
Trump’s plan is a disaster for everyday Americans. It combines harsh service cuts, rising consumer costs, and a broken tax code to funnel wealth upward to the top 10 percent. These families, who already earn on average over $500,000 a year, will gain an average of $89,000 from this scheme over the next decade. But the very richest households will get the most: the wealthiest 1 percent will rake in more than $660,000 each over the next decade.
While workers see their out-of-pocket expenses go up and services get cut, the wealthy escape responsibility. Income from labor can be taxed at up to 37 percent. But income from capital gains is taxed at just 20 percent.[2] And for the ultra-rich, the main source of income, unrealized investment gains, is not taxed at all. They use a loophole strategy called Buy, Borrow, Die to live tax-free while teachers and nurses foot the bill.
Trump and his billionaire backers are trying to lock this inequality in for good. This summer they made what were temporary rate cuts permanent, mostly benefiting the wealthy. It is a full-blown assault on workers and a dream come true for the ultra-wealthy.
Under the Trump-GOP vision, the rigged tax code will only become more unfair for working people. They want to impose a national sales tax, eliminate tax credits for working families, and lock in flat-rate income taxes that hit the middle class hardest. Their goal is not economic growth. It is to protect billionaire fortunes at all costs.
Trump’s top donors already use their windfalls to buy political influence. According to Americans for Tax Fairness research, just 100 billionaire families spent a record $2.6 billion in the 2024 elections. Now they want their return on investment. They want a tax code built for them, paid for by us.
The consequences are staggering. Cuts to schools, hospitals, and public safety are being used to fund tax breaks for private jets and family dynasties. It is the privatization of our economy by the people who already own most of it. If we do not fight back now, this Labor Day will become a memorial to the American worker, not a celebration.
That is why we are supporting the Workers Over Billionaires Labor Day rallies. With over 580 events happening across all 50 states, this movement is bringing working people together to demand justice. The future of our economy depends on fighting back.
Sent via ActionNetwork.org.
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