John,
Billionaires have been running the biggest tax scam in America.
For decades, the richest 0.01% have been allowed to hoard and grow their wealth almost completely tax-free. While teachers, nurses, and factory workers see taxes taken from every paycheck, billionaires can get away with paying little or nothing by exploiting a broken system. The reality is staggering: the 400 richest families in America pay an average federal tax rate of just 8.2% when all their income is included—far lower than what most working families pay.[1]
This didn’t happen by accident. Billionaires designed a loophole to make sure they could live like kings while dodging taxes. It’s called “Buy, Borrow, Die.” Here’s how it works: billionaires watch their stock portfolios climb in value year after year, borrow against those assets to fund their luxury lifestyles, and then pass along the wealth growth to their heirs tax-free when they die. And because they never sell those assets, that growing wealth goes completely untaxed. Ordinary Americans can’t use this scam, but billionaires have turned it into their personal tax shelter.
The consequences are devastating. We have crumbling schools while billionaires build rocket ships. We have seniors rationing medicine while billionaires buy their third super-yacht. We have children going to bed hungry while billionaires buy elections to keep their tax breaks. The entire system has been rigged so the richest few can hoard unimaginable fortunes while everyone else struggles to get by.
That’s why Congress must pass the Billionaires Income Tax. This legislation finally says: we pay taxes on our wages so billionaires must pay taxes on their wealth gains. It applies only to households worth more than $1 billion or earning $100 million three years in a row. Fewer than 1,000 households will be affected, but the revenue will be enormous, an estimated $557 billion over the next ten years.[2] That money could protect Social Security and Medicare, rebuild our schools and infrastructure, and much more.
Donate now to help us pass the Billionaires Income Tax and stop billionaire tax dodging once and for all.
Billionaires will not give up without a fight. They’re already preparing to unleash a tidal wave of dark money, corporate lobbyists, and smear campaigns to stop this reform in its tracks. They know the Billionaires Income Tax will close their favorite loophole and force them to start paying taxes like the rest of us.
Billionaires aren’t just avoiding taxes, they’re using their untaxed fortunes to buy our democracy. In 2024, billionaire families poured more than $2.6 billion into elections, drowning out the voices of working people.[3] Untaxed wealth gains become political power, and political power ensures the system stays rigged. It’s a vicious cycle and the Billionaires Income Tax is how we break it.
Poll after poll shows the public is on our side. Democrats, Republicans, independents—even Trump voters—believe billionaires should pay more. The only thing standing in the way is raw billionaire power. And the only thing that can overcome that power is a massive, organized grassroots movement. That’s why Americans for Tax Fairness Action Fund is joining with more than 20 partner organizations to launch a nationwide campaign to pass the Billionaires Income Tax.
This is our chance to rewrite the rules, end the billionaire tax scam, and build an economy that works for all of us. But we cannot do it without you. Every single contribution helps us reach more voters, pressure more lawmakers, and fight harder against the billionaires and their allies.
Please donate $15, $25, or whatever you can today to power this campaign and finally make billionaires pay their fair share.
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Thank you for fighting back,
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] What Is the Average Federal Individual Income Tax Rate on the Wealthiest Americans?
[2] Wyden Statement on Billionaires Income Tax Score
[3] Billionaires Buying Elections: They've Come To Collect
