The tax fairness edition. COVID-19 cases are on the rise in a majority of states as well as Puerto Rico and Washington, D.C. – in some cases, sharply. Thankfully, we are not seeing any increases in deaths or hospitalizations. But two new omicron subvariants, both descended from BA.2, increasingly are circulating in the U.S. and are spreading even faster than BA.2 did.

Meanwhile, it is that time of year when Americans are asked to settle up with the IRS. Well – some of us are asked to settle up. We now know that the wealthiest Americans, along with large corporations, profited greatly during the pandemic and are not required to pay their fair share of taxes. In many cases, this is because wealth is not taxed in the same way that workers’ wages are taxed.

You can read more about some of the statistics below. What is important to consider is, what is the opportunity lost to our country when some do not pay their fair share? What does tax fairness even look like? What kinds of things could we pay for if we taxed everyone fairly?

In his latest budget, President Biden proposed taxing income from wealth like work – his measure would bring in hundreds of billions in new revenue over the next decade. Senator Ron Wyden (D-OR) has introduced the Billionaires Income Tax, which would bring in even more revenue.

This, along with other fair revenues, such as increases from undertaxed corporations, is money that could help families who right now are struggling under the yoke of inflation – everything from high gas and home heating prices to rising rents to record-breaking increases for basic groceries like eggs and meat. It could help lower the cost of child care. We could pay for pre-K for every 3- and 4-year-old in the country. We could provide home-care services so that older Americans and Americans with disabilities could live free and independently in their homes, avoiding the bleak and dismal prospect of institutionalized living.  We could keep Affordable Care Act health insurance premiums from rising and extend Medicaid to poor adults in states that deny coverage now.

To get even more specific: if the wealthiest Americans were taxed fairly, we could expand the Earned Income Tax Credit (EITC) for 17 million low-wage workers for a decade. And we could bring back the Child Tax Credit expansion – remember those monthly payments? – for four years.

On this day, as millions of Americans settle up with the IRS, creating a fair tax system is really not too much to ask. Indeed, tax equity should be a birthright we enjoy as Americans. So let’s send a message to Congress: the wealth of millionaires and billionaires should be taxed, just like the wages ordinary Americans earn are taxed. Click here to write your Senators and Representative.

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