Hi,

The best time to pass a billionaire wealth tax was yesterday, the second best time is today.

Congress can’t wait any longer, because surprise, surprise the year is 2022 and billionaires are flooding GOP Super PACs with money. And what do you know? Almost ALL of the money is coming from Wall Street.1

Sign the petition: Tell Congress it’s time to start taxing billionaire wealth!

The billionaire class is playing a rigged game. First, they hoard their wealth by avoiding taxation and regulation. Then, they use that wealth to heavily influence Congress. Finally, Congress helps them further increase their wealth through tax breaks and de-regulation. And because this has worked so well for them, naturally they decide to do it all over again.

This cycle is not only repeating itself, but it is snowballing out of control. One of the first and best ways to fight this assault on democracy is to tax billionaire wealth!

U.S. billionaires saw their total wealth grow by $2 trillion during the first two years of the pandemic. That’s a 70% increase! And yet, they paid about an 8% federal income tax rate. That’s less than most ordinary Americans pay!2

It is long past time for the wealthiest Americans and big corporations to pay their fair share of taxes. When they take unfair advantage of the many loopholes in the tax code the rest of us pick up the tab.

That’s why it’s time to tax those massive earnings once and for all. Democracy is not for sale.

Sign the petition: Tell Congress to tax billionaire wealth!

Thanks for taking action,

Miguel and the team at Demand Progress

 

Sources:
1. Americans for Tax Fairness, “Report: Billionaires Buying Elections,” July 13, 2022.
2. White House Briefing Room, “New OMB-CEA Report: Billionaires Pay an Average Federal Individual Income Tax Rate of Just 8.2%,” September 23, 2021.


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