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John,
Elon Musk’s $44 billion purchase of Twitter is much more than a vanity project. Musk, like several billionaires before him like Jeff Bezos and Rupert Murdoch, seek to control information―arguably our most valuable commodity.
If Musk can afford this historic $44 billion purchase, certainly he can afford to pay taxes on his $266 billion in wealth gains over the last two years.[1] And, when he does we can invest in everything from affordable healthcare, housing and childcare, to a stronger Environmental Protection Agency that ensures clean air and water and fights destructive climate change.
Let’s use social media to hold Elon Musk accountable! Help bring our latest infographic, below, to millions of people and fight for a Billionaires Income Tax to finally tax billionaire wealth like income from work.
Over the last two years, billionaires have seen their wealth skyrocket by $2 trillion, or 70%. What is that wealth equivalent to?
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Providing 35 million families with the expanded Child Tax Credit for 10 years, which decreased child poverty by 40% ($1.6 trillion)
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Canceling all education debt ($1.6 trillion)
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Lowering healthcare, childcare, homecare, housing, and college costs; implementing paid family and medical leave; improving child nutrition; expanding the Earned Income Tax Credit; and allowing Medicare to cover hearing coverage―all for a combined $1.7 trillion.[2]
The super-rich have already rigged our tax code and economy at the expense of working people. Now they seek to control our access to information as well.
It’s time for the American people to take control back from the rich and powerful and fight for a society that includes us all. Pitch in $5 today to tax billionaires’ wealth gains just like we tax income from work!
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Thank you for working to hold Elon Musk and America’s 740 billionaires accountable.
Frank Clemente
Executive Director
Americans for Tax Fairness
[1] “This Tax Day, America’s Working Families Are Paying Their Fair Share But America’s Billionaires Are Not,” Americans for Tax Fairness, April 14, 2022
[2] “What Billionaires’ $1.7 Trillion Pandemic Profits Could Fund,” Americans for Tax Fairness, March 17, 2022
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