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John,
The Inflation Reduction Act passed the House last week without a single Republican vote. That’s because while Republicans are happy to propose tax increases on working people and the poor,[1] they hate taxing millionaires, billionaires, and billionaire corporations—plus, they love Big Pharma and don’t believe in climate change!
The Inflation Reduction Act is just a starting point in unrigging our tax system.
Next up: Let’s make the Billionaire Minimum Income Tax (H.R. 8558) a big focus of the midterm elections so we can pass it during the next session of Congress.
The bill will not just ensure that America’s roughly 750 billionaires pay taxes each year on their investment gains just like you and I pay on our income, it’ll also rein in the undue influence that billionaire money plays in our elections.
Donate today to keep unrigging our tax code and fight for the Billionaire Minimum Income Tax! It’s time for billionaires to start paying their fair share in taxes, just like you and I do.
Right now, in Senate races from Arizona to Georgia to Nevada, Ohio and Wisconsin, billionaires are spending millions through super PACs to elect right-wing candidates who want to maintain our rigged tax system while destroying our democracy and our planet.
They want to continue to receive massive tax handouts while undermining popular programs like Social Security. For example, PayPal and Facebook billionaire Peter Thiel has spent $15 million in each of two states bankrolling right-wing U.S. Senate candidates who won their primaries: election-denier J.D. Vance in Ohio[2] and election-denier Blake Masters in Arizona, who wants to privatize Social Security.[3][4]
When billionaires are made to pay their fair share in taxes each year on their outrageous wealth gains, they’ll have less to spend buying politicians and our democracy.
Donate today to use this week’s tax fairness victory to propel us to our next victory: passing the Billionaire Minimum Income Tax!
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
This week was a historic first step. Let’s make sure it’s not the last.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Talking Points: Sen. Rick Scott’s “11 Point Plan to Rescue America,” Americans for Tax Fairness, April 28, 2022
[2] “Peter Thiel puts another $3.5 million behind Blake Masters in Arizona,” The Washington Post, May 24, 2022
[3] “Trump-backed Blake Masters looks set to win Arizona’s Republican Senate primary with $15 million in help from Peter Thiel,” Market Watch, August 2, 2022
[4] https://twitter.com/zhenryaz/status/1540232724325318656
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