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John,
This is a bad week for Donald Trump. Not only did the January 6 Committee make four criminal referrals of Trump to the Department of Justice―including inciting, assisting, and providing aid or comfort to an insurrection―but the House Ways and Means Committee is also meeting to determine what to do with Trump’s tax returns before the House changes hands in the New Year.
While congressional Democrats have a full to-do list this week, our work to hold billionaires accountable―including Trump―doesn’t end when the clock strikes midnight on December 31st.
Recently, hedge fund billionaire Ken Griffin brought a lawsuit[1] against the IRS because his tax returns and those of other billionaires had been secretly turned over to ProPublica. The investigative journalists there found that the richest 25 billionaires paid just a 3.4% tax rate between 2014 and 2018 when the growth of their wealth is counted as income.[2]
Griffin was the biggest donor to the two GOP super PACs this cycle, contributing at least $28.5 million. He’s a long-time Republican mega-donor, contributing more than $146 million to federal candidates and PACs over the past decade.[3]
We’re fighting to hold Donald Trump, Ken Griffin, and all billionaires accountable―by ensuring they pay taxes on their wealth gains each year, not just when they feel like it―and by limiting the influence on billionaire wealth in our elections.
As we look ahead to the New Year, with Republicans taking control of the U.S. House on January 3rd, pitch in $5 to help us fight back against billionaire greed and to hold billionaires―including Trump―accountable.
Billionaires like Ken Griffin aren’t just throwing their extreme wealth around in federal elections. In 2020, Griffin spent $54 million to defeat a ballot initiative in Illinois that would have increased taxes on the wealthy from 5% to 8%, saving him what could have been $51 million a year![4]
Donate today to hold billionaires like Donald Trump and Ken Griffin accountable, and ensure they pay taxes on their wealth gains each year, not just when they feel like it.
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Together, we’re fighting for a future that puts working people, not billionaires, first.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Ken Griffin Sues IRS Over Tax Privacy Breach That Also Affected Other Billionaires,” The Wall Street Journal, Dec. 13 , 2022
[2] “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax,” ProPublica, Jun. 8, 2021
[3] “Billionaires Buying Elections,” Americans for Tax Fairness, July 2022
[4] “Ken Griffin Spent $54 Million Fighting a Tax Increase for the Rich. Secret IRS Data Shows It Paid Off for Him,” ProPublica, July 7, 2022
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