John,

Since the pandemic began in March, 2020, the top 10 richest Americans have seen their collective wealth more than double, increasing from $618 billion to $1.35 trillion, or by $731 billion.[1] At the same time, millions of working people have lost wages and jobs―only temporarily aided by government supports such as expanded unemployment benefits and the Child Tax Credit.

With those pandemic-era supports running out, if nothing is done, the United States will likely see a significant rise in poverty in 2022. At the same time, the top 10 American billionaires are collectively getting $1.1 billion richer each day―an average of $109 million each!

Help bring our latest infographic below to millions of people and fight for a Billionaires Income Tax that will finally make America’s 700 billionaires start paying their fair share in taxes. Pitch in $5 today!

The Billionaires Income Tax will raise at least $550 billion over 10 years by requiring the country’s roughly 700 billionaires to pay taxes on the growth of their assets each year, just like workers pay taxes on their wages.[2]

Last November, Elon Musk―who is now worth $268 billion according to Forbes―asked his Twitter followers if he should sell 10% of his stock in Tesla in order to pay income taxes in 2021.[3] The overwhelming response was YES, but it shouldn’t be up to the ultra-wealthy when or if they pay taxes. That’s why the Billionaires Income Tax is so important.

In fact, if the Billionaires Income Tax had been in place last year, America’s billionaires could have owed up to $240 billion on their 2021 wealth gains, depending on how much of that wealth gain was derived from tradable assets such as stock.[4]

Pitch in now to bring our latest infographic to millions of people and fight for a Billionaires Income Tax that will finally make America’s 700 billionaires start paying their fair share in taxes.

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Thank you,

Maura Quint
Campaign Director
Americans for Tax Fairness

[1] "TOP 10 AMERICAN BILLIONAIRES GET $1 BILLION RICHER EVERY DAY," Americans for Tax Fairness, Jan. 19, 2022

[2] “Wyden Statement on Billionaires Income Tax Score,” Senate Finance Committee, Nov. 5, 2021

[3] “Elon Musk asked in Twitter poll if he should sell Tesla stock to pay taxes. People said 'Yes',” CNET/Money, Nov. 8, 2021

[4] “America’s Billionaires Got $1 Trillion Richer Last Year,” Americans for Tax Fairness, Jan. 4, 2022