John,

Most millionaires and billionaires don’t earn a paycheck like you and I. Their income comes from investments, and they only pay federal income tax when they sell those assets, such as stocks or a business.

Since they can live on low-interest loans, backed by their exorbitant wealth, the richest 0.01% rarely need to pay any federal income tax.

Right now, there’s momentum in Congress to pass a Billionaires Income Tax, which would require America’s 740 billionaires to pay income taxes each year on the income gained from their increasing wealth. But we’re up against Wall Street lobbyists who are seeking to defeat us.

On this Tax Day, can you rush a contribution to shine a spotlight on the inequities of our rigged tax system and demand Congress pass a Billionaires Income Tax?

Thank you for fighting for a tax system and an economy that works for everyone, not just the wealthy few.

Nicolai Haddal
Field and Events Manager, Coalition on Human Needs

--DEBORAH'S EMAIL--

John,

Monday is Tax Day. And while you and I pay our fair share of taxes with every paycheck we earn, America’s 740 billionaires are getting away with massive income gains―virtually tax free.

That’s because our rigged tax system doesn’t tax the income gains from wealth the same way we tax work. In fact, billionaires can go years without paying a cent in federal income tax.

CHN is fighting alongside our coalition partners for a Billionaires Income Tax, so billionaires pay taxes each year, just like you and I do. Just in the last two days, we’ve sent more than 14,000 messages directly to members of Congress demanding they act!

But, in order to get this done, we need to keep up the grassroots pressure.

Donate today to demand Congress pass a Billionaires Income Tax and fight back against an army of Wall Street lobbyists who are seeking to stop us.

Just in the last two years, since the pandemic began, America’s 740 billionaires have seen their wealth grow by $2 trillion.[1] That’s a 70% increase! Meanwhile, working people are paying more and more out of pocket on everything from food to gas to housing.

Thankfully, President Biden and Senator Ron Wyden, Chair of the Senate Finance Committee, have each put forward plans to tax income from wealth like work―and to use that new revenue to address inflation and lower costs for working people. And that’s exactly what we’re fighting for!

The President’s plan would raise at least $360 billion over 10 years[2] while Sen. Ron Wyden’s Billionaires Income Tax would raise at least $550 billion.[3] What could we do with these funds?

We could expand the poverty-fighting Earned Income Tax Credit for a decade for 17 million low-wage workers ($135 billion) or expand the Child Tax Credit for four years ($484 billion), which, last year, lowered childhood poverty by 40%.[4]

We could provide free preschool to 6 million three- and four-year olds ($214 billion). Or we could lower at-home care costs for the aging and people with disabilities ($209 billion).

Keep the pressure on Congress to pass a Billionaires Income Tax to tax billionaires’ income from wealth each year, not just when they feel like it!

If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:

President Biden and our champions in Congress are working to unrig our tax code, but they need our help. Together, let’s show them that we have their backs in the face of massive Wall Street pressure that’s seeking to maintain an unjust status quo.

Thank you,

Deborah Weinstein
Executive Director, Coalition on Human Needs

[1] https://americansfortaxfairness.org/issue/tax-day-americas-working-families-paying-fair-share-americas-billionaires-not/
[2] https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf
[3] https://www.finance.senate.gov/chairmans-news/wyden-statement-on-billionaires-income-tax-score
[4] https://americansfortaxfairness.org/issue/6-ways-spend-revenue-billionaires-income-tax/