The problem is simple: The wealthiest Americans have gamed the system for decades, growing richer and more powerful without paying taxes. While working people pay taxes on every paycheck, billionaires avoid taxes on their stock portfolios, real estate, and private business holdings. Now, Congress has a chance to put an end to this two-tiered tax system.
The newly introduced Billionaires Income Tax, championed by Sen. Ron Wyden and Reps. Don Beyer and Steve Cohen, would require billionaires and ultra-millionaires to pay a minimum 23.8% tax rate on all of their income, including both regular earnings and unrealized capital gains.
That means billionaires would finally pay taxes on the wealth they accumulate every year, just like workers pay on wages.
This legislation applies to only the top 0.01%, but it would raise an estimated $557 billion over the next decade. That's money that can be invested in our communities' schools, healthcare, climate resilience, and clean energy — everything we need to fund a green new deal for all.
The public is already on our side. Poll after poll shows strong bipartisan support for making the wealthy pay their fair share. But Trump and his fossil fueled fascist regime have hundreds of billions of reasons to fight us. As always, our most power tool is a grassroots movement to fight the oiligarchs — brave, committed, and ready to stand up and be counted.
If that's you, sign and send a message to tell Congress to end the billionaire tax scam and pass the Billionaires Income Tax.
Thanks for all you do,
Drew & the 198 methods to battle the billionaires crew