Dear John,

Why should billionaires be paying a fraction of the percentage the rest of us pay in income taxes?

IRS data show that if your name is Jeff Bezos, Elon Musk, or Michael Bloomberg, you paid zero in federal income tax over multiple recent years, even as you made billions of dollars from the gains your wealth generated for you.^[1] Not only were these windfalls gained without the billionaires lifting a finger, they were protected from taxation as well.

No wonder President Biden called for a billionaire minimum income tax in his State of the Union address, saying, “Reward work, not just wealth.” This minimum tax would eliminate egregious loopholes so households worth over $100 million will pay their fair share of taxes.

Sign the petition now to demand that Congress pass the Billionaire Minimum Income Tax, ensuring the wealthiest Americans pay at least 20% on their full income every year, including growth in their stocks and other assets.

The average U.S. taxpayer pays a federal income tax of 13%. Yet IRS data reveal that the top 400 wealthiest American families paid an effective tax rate of only 8.2% over a recent nine-year period, if the increased value of their stocks is included as income.^[2]

It’s unfair, and unacceptable.

It’s also simple: Not including ALL income when taxes are calculated -- including the wealth gained through Wall Street investments -- is a straight up gift to the rich. It’s a rigged system that favors the ultra-wealthy at the expense of hard working Americans nationwide.

The bottom line is the Billionaire Minimum Income Tax is estimated to raise at least $360 billion over 10 years. That’s funding which could be used to improve the lives of working families, helping with the costs of childcare, healthcare, housing, and more.

Tell Congress to help rein in the excessive concentration of wealth among America’s billionaires and ultra-rich millionaires, and use that revenue to invest in working families. Add your name today to stand with President Biden and demand Congress pass the Billionaire Minimum Income Tax Act.

Thank you for helping to address these destructive inequities, to create a more fair and just system for all Americans.

Robert Reich
Inequality Media Civic Action

^{[1] Summary of ProPublica’s Report on Billionaire Tax Dodgers
[2] What Is the Average Federal Individual Income Tax Rate on the Wealthiest Americans?}