John,
Our new analysis reveals the extent of billionaire tax dodging in America. Billionaires have amassed $7.6 trillion in wealth, and over half of it has escaped taxation entirely.[1] That is billions of tax dollars that should be going into schools, healthcare, infrastructure, and communities. But because billionaires have rigged the rules, it’s money that is stolen from our communities.
The cycle is clear: untaxed wealth gains fund political power, which creates even more untaxed wealth gains. We are working to break that cycle.
At the federal level, the Billionaires Income Tax Act would ensure that wealth gains are finally taxed, raising hundreds of billions for public investments.[2] At the state level, the Millionaires’ Surtax in Massachusetts is proving its worth, raising billions for essential services while forcing the wealthy to contribute more of their fair share. These are the tax policies that can reclaim the resources America needs.
Billionaires are fighting back with everything they have. They will spend unlimited sums to buy off politicians and flood the airwaves with disinformation. The only counterweight is thousands of people doing what we can to beat the billionaires’ war chest with people power.
Please make a contribution today to power our campaign to tax billionaires’ untaxed trillions and invest in working families. Every dollar you give helps us fight on both the state and federal levels to mobilize voters and confront the lies of the billionaire class.
This stolen wealth is fueling political corruption. In 2024 alone, billionaire families poured $2.6 billion into federal elections, overwhelmingly supporting Republicans who promised to protect their fortunes.[3]
Their investment paid off with more tax breaks and new attempts to gut Social Security, Medicare, and Medicaid.
For every dollar they pour into elections, they reap hundreds of millions in tax breaks and government favors. That is why their fortunes keep soaring while schools go underfunded, prescription costs climb, and safety-net programs face constant threats.
The system works perfectly for them, and disastrously for everyone else. We are building the infrastructure to win this fight, but it depends on you because grassroots support makes up the heart of this movement.
Make a donation right now to help keep our research in the headlines, our organizers mobilizing grassroots pressure, and our campaign strong enough to take on billionaire opposition.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Together we can expose billionaire corruption, demand tax justice, and reclaim trillions for the public good.
Pablo Willis
Communications 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
[3] Billionaires Buying Elections: They’ve Come to Collect
-- David’s email --
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.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
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
