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John,
America’s nearly 750 billionaires collectively got $1 trillion richer in 2021.[1] And, thanks to a rigged tax system that favors wealth over work, these enormous wealth gains went virtually tax free.
Moreover, the wealthiest Americans avoid paying $163 billion each year―that’s the shortfall between how much they owe under the current system and what is collected.[2]
Our broken tax system is exacerbating already significant and dangerous income inequality in America. It's time to stop trying to fix a complex and nuanced issue with incremental changes. We need bold action from Congress if we are to right the ship of wealth inequality and make major new investments to help families afford healthcare, childcare, housing and to fight climate change.
Sign the petition to Congress today. Tell them it’s time for the rich and corporations to pay what they owe in taxes!
We need Congress to pass the Billionaires Income Tax (or a wealth tax on the ultra-rich) to tax income the wealthy get from investments at least at the same rate as workers’ pay on each paycheck.
We must close loopholes and raise tax rates on wealthy corporations, imposing at least a 15% minimum tax on U.S. corporate profits made here at home and offshore so large profitable corporations don’t get away with paying $0 in federal income tax.
We need to impose a surcharge on stock buybacks to encourage publicly traded companies to invest in their workforces instead of artificially inflating the value of their stock so that wealthy investors get even richer.
Join Americans for Tax Fairness Action Fund and our allies in calling on Congress to take bold action and finally make the rich and corporations pay what they owe in taxes.
Taxing wealth like work and stopping corporate tax dodgers is supported by President Biden and a majority of the American people. Now Congress just needs the political will to act.
Thank you for fighting for a tax system and economy that puts working people first.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] "Top 10 American Billionaires Get $1 Billion Richer Every Day," Americans for Tax Fairness, Jan. 19, 2022
[2] “The wealthy may avoid $163 billion in taxes every year. Here’s how they do it,” CNBC, Sept. 20, 2021
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