In an honest democracy, every person would have rights and responsibilities based on their appropriate situations. Poor people would be helped. Rich people would pay their fair share of taxes to pay for the political and economic systems that made them rich.
But — as you know — economic inequality has been widening horribly ever since the mid-1970s. This is true regardless of which party runs the Congress or the Executive Branch.
But it is getting radically worse under Trump and the Republicans who dominated the U.S. House and Senate in 2017. In December 2017 they passed a GIGANTIC piece of legislation that RADICALLY SHIFTED responsibility for paying taxes from extremely rich individuals and businesses onto the rest of us.
Economic data since then have showed EXTREME INEQUALITY in who pays taxes. This has been leading to EXTREME INEQUALITY in people’s net assets.
Many of our nation’s richest billionaires pay ZERO income tax. Many of our nation’s most profitable businesses pay ZERO income tax.
In 2017, before Trump’s tax shift went into effect, FedEx paid 34%. The next year (in 2018) — based on Trump’s tax shift — FedEx paid ZERO. This has been reported in several of the U.S.’s most respected big newspapers, and nobody has refuted the facts. That’s just one example.
Public Citizen (www.citizen.org), the non-profit organization founded by Ralph Nader nearly half a century ago, reported this:
The effective tax rate for the richest 400 families in the country has dropped in half since 1980.
Meanwhile, the rate for families in the bottom 50% of income was slightly higher.
Those are just two surprising conclusions in a new study from two University of California professors.
Shockingly, it turns out that for the first time in our history, our nation’s wealthiest billionaires now pay a lower effective tax rate than the working class.
Tell Congress: It’s time for the superrich to pay their fair share. Two bills before Congress can help address the inequality of our nation’s spiraling wealth gap:
• The Millionaires Surtax Act would add an extra 10% tax on all income earned by households making $2 million or more each year and individuals making $1 million or more; and
• The For the 99.8% Act would raise estate tax rates and close loopholes for inheritances worth at least $3.5 million.
Ask your members of Congress to co-sponsor these bills today.
SIGN THIS PETITION TO CONGRESS: https://publiccitizen.salsalabs.org/superrichtaxbill/index.html?eType=EmailBlastContent&eId=11c55830-774c-4d17-a4b1-d269773e17dc
ALSO, THE ECONOMIC POLICY INSTITUTE’s Policy Center (www.epi.org) urges us to sign their petition urging Congress to pass a surtax on millionaires and billionaires.
See information and SIGN A PETITION TO CONGRESS at this link: https://actionnetwork.org/petitions/sign-now-its-time-that-millionaires-start-paying-their-fair-share?source=group-epi-policy-center&referrer=group-epi-policy-center&redirect=https%3A%2F%2Fsecure.actblue.com%2Fdonate%2Fmillionairessurtax_epipc&utm_source=Economic+Policy+Institute&utm_campaign=22e747deb2-EMAIL_CAMPAIGN_2019_11_20_08_54&utm_medium=email&utm_term=0_e7c5826c50-22e747deb2-58057581&mc_cid=22e747deb2&mc_eid=95250a4bc6
Another good group — Americans for Tax Fairness — invites us to sign this petition urging Congress to pass the legislation I mentioned immediately above:
SEE INFO AND SIGN PETITION HERE: https://actionnetwork.org/letters/tell-your-members-of-congress-pass-the-millionaires-surtax-and-ensure-the-top-02-start-paying-their-fair-share?source=direct_link&&link_id=1&can_id=1d662460c0abb8939c5044c82927552b&email_referrer=email_663838___subject_864007&email_subject=politicians-can-read-polls-and-this-bill-is-supported-by-73-of-voters