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Hi,
In 2017 FedEx owed the government $1.5 billion in taxes. In 2018, they owed $0 - thanks to Donald Trump's tax cut.1
FedEx didn't invest that money in higher wages or more jobs. Instead they gave it to their shareholders, including their CEO, Frederick Smith. He lobbied Trump hard for that tax cut. He's now worth $3 billion.
Do you agree that wealthy individuals like him need to pay more taxes? Then you'll love this new millionaires surtax from Senators Sherrod Brown and Chris Van Hollen. It would raise taxes on the wealthiest 0.2% in the country, and generate $635 billion in new revenue. Now is the time to show Congress you want it to pass.
Sign the petition: Tell Congress to support the millionaires surtax!
The Millionaires Surtax will create an additional 10-percentage point tax on all income earned by households making $2 million or more each year and individuals making $1 million or more.
According to the Tax Policy Center, the surtax will generate an additional $635 billion over ten years that can be used to invest in critical services for working families. A recent poll by Hart Research found that the surtax is supported by 73% of voters, including more than one-half of Republicans.2
Due to a rigged tax system, including the 2017 Trump-GOP tax scam that gave massive handouts to huge corporations and wealthy CEOs on Wall Street, we have an economy that greatly favors the wealthy while the rest of us are stuck picking up the tab.
A Millionaires Surtax would apply to all income earned by the top 0.2% ― including wages, salaries and wealth that comes from Wall Street investments such as stocks. The rest of us (the other 99.8%) would not pay an extra dime.
The wealthy elite and their allies are already pushing back hard and trying to scare Congress into silence. Will you help build support for taxing the rich?
Add your name: Tell Congress to support the millionaires surtax!
Thanks for taking action,
Robert and the team at Demand Progress
Sources:
1. New York Times, "How FedEx Cut Its Tax Bill to $0," November 17, 2019.
2. Hart Research, "Millionaires Surtax: A Winning Issue for 2020," November 7, 2019.
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