A new message from your friends at People For the American Way.
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Dear People For supporter,

Income inequality has been growing dramatically in America in recent
years, with greater shares of wealth accumulating at the top with
billionaires like Elon Musk and Jeff Bezos, while lower-income Americans
struggle to pay their bills. The wealth gap in the U.S. is roughly as wide
as it was a century ago during the gilded age.^[ [link removed] ]

Late last month, President Biden released his proposed budget for 2023,
including a long-overdue proposal that calls for a new tax on American
households worth more than $100 million. The President’s plan also calls
for higher maximum tax rates on corporations – who have seen profits
skyrocket to record levels this year.^[ [link removed] ]

[1]Click here to tell your Senators and Representative: I support the
President’s proposal to ensure that corporations and the ultra-wealthy pay
their fair share in taxes. >>

One of the common ways in which the ultra-wealthy are able to dodge taxes
is by simply borrowing against the appreciated value of their assets –
producing an income stream that is not subject to the income taxes that
the rest of us pay.

Now, however, the President’s proposal -- dubbed the “billionaire minimum
income tax” -- would crack down on this scheme by imposing, for families
with a net worth in excess of $100 million, a 20% minimum tax on their
income as well as unrealized gains in the value of liquid assets like
stocks. (This form of taxation is familiar to anyone who owns a home and
pays property taxes, which often go up after periodic reassessments.)

It’s long past time for the most fortunate among us to stop dodging the
taxes the rest of us pay and contribute their fair share to the system of
government that has allowed them to amass such incredible sums of wealth.

[2]Click here to send a message to Congress: the ultra-wealthy and
profitable corporations need to pay their fair share, so I ask you to
support President Biden’s proposals to make them do just that. >>

Thanks for your activism on this issue,

– Ben Betz, People For’s Digital Team

P.S. After you send a message to Congress, please be sure to share this
action alert via email, Facebook and/or Twitter. Thanks!

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Sources:

[1] [ [link removed] ]"The new Gilded Age: 2,750 people have more wealth than half the
planet." CBS News, 12/7/2021

[2] [ [link removed] ]"U.S. companies post their biggest profit growth in decades by
jacking up prices during the pandemic." Fortune, 3/31/2022

 

 

 


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