| Dear Friend, Working families are struggling under skyrocketing gas prices and food costs that have jumped as much as 16% -- while the average wage has only risen one cent in the last month.(1,2) You know who hasn’t felt the pinch? Billion-dollar corporations. Companies including P&G, Amazon, and Kellogg are posting record profit margins while the rest of us struggle, and they’re offshoring that money and using tax shelters to avoid paying their fair share.(3) President Biden has secured a deal to end tax havens offshore, and Congress is considering a 15% corporate tax rate that would put $320 billion into essential programs for working families.(4) We need Congress to pass that tax. Sign our petition calling on Congress to pass a 15% corporate minimum tax! Amazon has seen its profits explode nearly 75% since the beginning of the pandemic, scoring $24 billion off our need for goods when stores were closed or having trouble receiving shipments. Yet in 2021, the corporation only paid a 9% tax rate, less than half of what the current tax law says it should -- and much less than most Americans pay in income tax.(5) In fact, 55 of America’s largest corporations -- including FedEx, Nike, and Dish Network -- paid zero federal income tax in 2020, despite raking in big bucks from sales.(6) This subsidy of corporations has got to stop. Corporate greed is driving inflation, as billionaire owners pass along rising costs to customers while upping their own profit margins. But a corporate minimum tax would be a huge help to working families. The tax could help pay for universal pre-K, expanded Medicaid and Medicare, a Child Tax Credit extension, and more. President Biden has called for a corporate minimum tax, and it is a popular policy with the public. Now we need Congress to put it in place. Click here to sign our petition calling on Congress to make corporations pay their fair share! Yours in the fight for fair taxation, Irene, along with Amber, Angela, Annie, Isidra, Jay, Lindsay, LisaMarie, Raquel, and Scottie (the Courage team) Footnotes:  |
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