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Hi,
Senator Warren is determined to tax the wealthiest people and the biggest corporations in America, who aren't paying what they should. This week she called out Amazon for "exploiting loopholes and tax havens to pay close to nothing in taxes."1
Amazon didn't like that. In a whiny, defensive response, they tweeted "If you don't like the laws you've created, by all means, change them."2
That's exactly what we plan to do. Will you stand with Elizabeth Warren against Jeff Bezos, Mark Zuckerberg, and other billionaires and their companies that are not paying what they should be?
Become a grassroots supporter: Tell Congress it's time that the wealthiest Americans pay more taxes!
As the pandemic exposed the deepest faults in American society, wealth inequality has taken off to new extremes. The wealthy have seen rising investment values, while the rest of the US is careening down a path marked with evictions, debt, and unemployment.
Billionaires like Bezos, Gates, and Zuckerberg have made more than $900 billion during the pandemic.3 Warren's plan would create a two percent tax on assets over $50 million dollars, which would generate $2.75 trillion over ten years.4 Now it's time to show Congress this has public support.
Economists have warned of a K-shaped recovery from the covid crisis -- meaning that the rich will get richer, and the poor will get poorer.5
That's why we're asking Congress to tax the wealthiest Americans -- those with a net worth of over $50 million. Taxing the 75,000 families with over $50 million could help fund universal childcare, Medicare for All, free college, and more.
Warren's tax would mean that a family with a net worth of $60 million would pay a two percent tax on their assets over $50 million ($10 million). Billionaires would be taxed three percent on assets over one billion dollars.
Warren's proposal is our best bet at passing a wealth tax, and getting ultra-rich millionaires to pay up.
Can you tell Congress to pass a wealth tax?
Thank you for speaking out,
Robert and the team at Demand Progress
Sources:
1. Elizabeth Warren on Twitter, March 25, 2021.
2. Amazon on Twitter, March 25, 2021.
3. USA Today, "Jeff Bezos, Elon Musk among US billionaires that got richer during coronavirus pandemic," December 1, 2020.
4. New York Times, "Warren Revives Wealth Tax, Citing Pandemic Inequalities," March 1, 2021.
5. Washington Post, "How a K-shaped Recovery is Widening US Inequality," December 16, 2020.
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