Hi,

Our income tax system is broken in this country. The wealthiest Americans
pay essentially the same tax rate as the absolute poorest.

This is the result of removing so many of our top tax brackets. Right now,
someone who makes $100,000,000 pays the same 37% tax rate as someone who
makes $650,000. Congress can undo these egregious tax breaks for the ultra
wealthy by passing the End the Bracket Racket Act and enforce an actually
progressive income tax that sets the highest rates for the highest
earners.^1

[ [link removed] ]Sign the petition: Tell Congress to pass the End the Bracket Racket Act
and make sure that the country’s highest earners pay the highest tax
rates!

ADD YOUR NAME

It’s no surprise that the tax brackets have almost exclusively been cut at
the highest income levels. One hundred years ago America had 50 income tax
brackets. That number was slowly whittled away until Ronald Reagan passed
the Tax Reform Act of 1986 and slashed it to two. TWO. It has since
crawled back up to seven brackets, but that still is not enough because
there is still a massive hole at the highest income levels.

The End the Bracket Racket Act would increase that number to twelve by
adding brackets at the top. Right now, the highest bracket maxes out at
$648,000. This is why someone who makes $100,000,000 pays the same 37% tax
rate as someone who makes $650,000. Pass the End the Bracket Racket Act
and all of a sudden that multi-millionaire is in a bracket with a 90% tax
rate!^2

The way things currently are, a family with barely enough income to cover
basic living expenses is paying the same rate in taxes as
mega-millionaires and billionaires. According to an extensive analysis
published in the book The Triumph of Injustice, when all taxes are taken
into account, a household in the top 1% has a total tax rate essentially
equal to a household in the bottom 50%.^3 That alone justifies the need
for passing the End the Bracket Racket Act.

[ [link removed] ]Sign the petition: Tell Congress that they must pass the End the
Bracket Racket Act!

Thanks for taking action,

Miguel and the team at Demand Progress

[ [link removed] ]DONATE

Sources:
1. Fortune, “We need a tax bracket and rate overhaul” [ [link removed] ]October 20, 2022.
2. Patriotic Millionaires, "End the Bracket Racket Act" [ [link removed] ]2022
3. OECD, "The Triumph of Injustice" [ [link removed] ]2019
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