John,
America’s billionaires have accumulated $7.6 trillion in wealth. According to a new Americans for Tax Fairness report, more than half of it, $4.2 trillion, has never been taxed.[1] Working families pay taxes on every paycheck, but the richest Americans grow their fortunes virtually tax-free. This is not a bug in the system; it is the system they built to serve themselves.
We are building a nationwide fight to turn the tide. In Congress, we are championing Senator Ron Wyden’s Billionaires Income Tax Act, which would finally tax wealth gains and raise $557 billion over the next decade.[2] On the state level, we are mobilizing for a Millionaires’ Surtax modeled after the one seen in Massachusetts, where a 4% surtax on millionaires’ income raised nearly $3 billion in its first year.
Both efforts prove the same point, that the ultra-wealthy are not untouchable, and when they are finally required to contribute at the level they should, communities benefit.
That is why our fight is urgent. Billionaires are spending unlimited sums on lobbyists, dark money groups, and political operatives to protect their privileges. They are determined to preserve a system where their fortunes are shielded and working people carry the weight. Every time Congress or a governor stands down, billionaires win. Every time we organize and force action, working families win.
Help us make billionaires pay their fair share. Your contribution will support our campaigns on the state and federal level, strengthen our advocacy and reporting, and counter billionaire dark money.
The billionaires will not back down quietly. They are mobilizing lobbyists, front groups, and propaganda campaigns to preserve their privileges. They want the public to believe taxing the rich will hurt the economy, when the evidence shows the opposite: surtaxes and taxes on wealth gains can fund schools, healthcare, and jobs while billionaires do just fine.
They want people divided and distracted, so their own hoarding of trillions goes unchallenged.
Their wealth has grown by 160% since the Trump-GOP tax law of 2017. That law opened new loopholes for billionaires while hollowing out resources for schools, healthcare, and infrastructure. The top 15 billionaires alone, men like Elon Musk, now control over 30% of all billionaire wealth.
This is not a battle we can win with research alone. It will take organizing, advocacy, and public pressure. It will take millions of Americans standing together to demand tax justice. Your donation is how we build that power.
Please make a contribution today to strengthen our campaign and hold billionaires accountable. Every dollar you give ensures we have the resources to keep up the pressure in Washington DC and in state capitals.
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With your support, we can end this injustice and invest in the future that working families deserve.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] Most Of Billionaires’ $7.6 Trillion Has Never Been Taxed
[2] Wyden Statement on Billionaires Income Tax Score
