This brand new report shows just how badly billionaires cheat the system.
ProPublica obtained never-before-seen IRS data on thousands of the country’s wealthiest individuals. Those records show that billionaires pay barely any income taxes on the seven, eight, or nine-figure sums they add to their wealth each year.
I’m fighting every day to pass my Stop CHEATERS Act to fully fund the IRS and hold the ultra-rich accountable for tax evasion. We need to stop billionaire tax evasion, and I’m relying on grassroots donors like you for support.
The difference between how taxes work for the ultra-wealthy versus everyone else is jaw-dropping.
By the end of 2018, the 25 wealthiest Americans were worth the same amount as 14.3 million ordinary American wage-earners. Yet those 25 wealthiest Americans paid less than 2% of what the wage-earners collectively paid in taxes.
The system is broken, and we’re going to fix it. My Stop CHEATERS Act would provide the underfunded IRS with the tools to finally hold millionaires and billionaires to the same standard as ordinary, honest people who pay their tax bill every year.
Our country needs Medicare for All, tuition-free college, a $15 minimum wage, universal child care, and affordable housing. If we audit and tax the wealthiest few, we can pay for all of that and more.
In solidarity,
Ro
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