John,

We have a rigged economy and tax system, which has resulted in an ever-larger share of wealth and income going to the richest 1%. And the pandemic has only exacerbated this inequality with billionaires seeing a 45% increase in their wealth in the last year.[1]

We’ve discussed Elizabeth Warren’s wealth tax, which is a critical start to ensuring the rich start paying their fair share in taxes. But what happens when millionaires and billionaires pass their wealth on to their heirs?

Since Trump signed his 2017 tax scam into law, the estates of millionaires and billionaires have been able to hold on to even more of their wealth―creating dynasties like the Koch brothers, the Walton family, and more.

Now, Senator Bernie Sanders and Representative Jimmy Gomez have introduced the For the 99.5% Act, which strengthens the Estate Tax―ensuring estates worth $3.5 million or more are paying more of their fair share.

Become a grassroots co-signer of Bernie Sanders’s new bill and tell Congress to pass the For the 99.5% Act to restrain the growing concentration of wealth among the richest 0.5%.

The Sanders/Gomez bill would raise a lot of revenue―$430 billion over 10 years―to create jobs and invest in working families and communities across the country.[2] It restores the $3.5 million level in place in 2009 above which estates get taxed. It also creates a progressive taxation scale on estates starting at 45% and increasing to 65% on estates above $1 billion.

At a time when we need a massive investment in our country’s future―to put millions of people hurt by the pandemic back to work, and rebuild for the future, it’s critical that we rein in dynastic wealth and create an economy that works for all of us.

Click here to become a grassroots co-signer of the Sanders/Gomez For the 99.5% Act and ensure the estates of the very richest Americans are paying their fair share in taxes.

President Biden is serious about increasing taxes on the richest U.S. families to create an economy that works for all of us. We need to make sure Congress acts.

Thank you,

Frank Clemente
Executive Director
Americans for Tax Fairness

[1] “One-year roundup of billionaire wealth growth during the pandemic and the top pandemic profiteers,” Americans for Tax Fairness, March 23, 2021

[2] Joint Committee on Taxation estimate in “51 National Organizations Urge Support of the Sanders-Gomez Estate Tax Reform Bill: “For The 99.5% Act,” March 25, 2021