[ [link removed] ]Tax the super-rich. Pass a millionaires surtax.

Petition to Congress:
"Pass the millionaires surtax, sponsored by Sens. Brown and van Hollen and
Rep. Don Beyer."

Add your name:

[ [link removed] ]Sign the petition ►

Dear Jack,

[ [link removed] ]Tax the super-rich.
Pass a millionaires
surtax.

America's super-rich have turned our democracy into an oligarchy. Instead
of every vote mattering, the richest handful of Americans use their money
to distort elections and make government serve them.^1

They use their wealth and power to buy politicians and push for policies
like the Trump tax scam. And their investments are paying off — the
richest of the rich actually pay lower tax rates than the rest of us since
they supercharge their wealth with investments that are taxed at a much
lower rate.^2

Sens. Sherrod Brown and Chris van Hollen and Rep. Don Beyer just
introduced legislation to impose a surtax on all millionaires. The
millionaires surtax will make sure the super-rich pay their fair share,
help fund services for working people – and make our democracy work for
the 99 percent again.

[ [link removed] ]Tell Congress: Tax the super-rich. Pass a millionaires surtax. Click
here to sign the petition.

The wealthiest few pay less in taxes the richer they get. That's because
the top tax bracket kicks in at $450,000 dollars, and the tax rate for
investment income is just 15 percent. The richer people get, the more
their income comes from investments and Wall Street speculation instead of
working for a living, and the lower rate they pay overall. So a Fortune
500 CEO raking in money from Wall Street trades pays a lower tax rate than
a doctor making $500,000 each year – and a far lower tax rate than the
working people who make giant corporations profitable.^3

A millionaire surtax is a great way to crack down on this injustice. It
would:^4

* Narrowly target millionaires. The millionaires surtax adds an extra 10
percentage point tax to the .2% of individuals making more than $1
million, or $2 million for married couples. That would have applied to
just 329,000 tax filers in 2019, leaving taxes untouched for 98.8
percent of people.
* Tax all income equally. No longer would millionaires pay a lower tax
rate than their assistants. The millionaire surtax applies equally to
income from wages and salaries and income from capital gains and
dividends – covering a CEO's sky-high salary as well as his investment
portfolio.
* Make government work for working people. A super-majority of Americans
of all parties support the millionaires surtax. Even a majority of
millionaires supports taxing the richest of the rich. The surtax could
raise more than $635 million over the next decade that could go into
services for working people and public benefits that help all of us.

Trump ran for office promising to 'drain the swamp,' then turned around
and gave the Wall Street swamp a massive tax cut. Progressives need to
show what true populism really looks like by rallying behind simple,
commonsense ideas to make the richest of the rich pay their fair share.
Sens. Elizabeth Warren and Bernie Sanders helped put this idea on the map
as part of their presidential campaigns, and now we need to show that
making the super-rich pay their fair share has massive support.

Tell Congress: Tax the super-rich. Pass a millionaires surtax. Click below
to sign the petition:

[ [link removed] ][link removed]

Thank you for speaking out,

Heidi Hess, Co-Director
[ [link removed] ]CREDO Action from Working Assets

Add your name:

[ [link removed] ]Sign the petition ►

References:

 1. Josh Bivens, "[ [link removed] ]Restraining the power of the rich with a 10 percent
surtax on incomes over $2 million," Economic Policy Institute, April
12, 2019.
 2. Ibid.
 3. Americans for Tax Fairness, "[ [link removed] ]Millionaires Surtax Background,"
Millionaires Surtax, Nov. 4, 2019.
 4. Ibid.

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