In the U.S., poor people pay a larger percentage of their income in taxes than rich people do!
Rich people keep telling us that “trickle-down” economics will help the rest of us — but “trickle-down” has been PROVEN to be propaganda, NOT how the economy really works.
Ordinary people — middle class, working class, and poor — are SERIOUSLY HURT by our nation’s tax system and our states’ tax systems. Rich people and giant corporations fund political campaigns, and the politicians write tax laws that serve their political donors AT OUR EXPENSE.
Finally, some progressive people are urging us to INCREASE TAXES ON EXTREMELY RICH PEOPLE. This makes perfect sense because rich people SHOULD have the greatest responsibility to pay for the political system that made them rich. We need to publicize this reality and to demand a SIGNIFICANT TAX INCREASE ON PEOPLE WHO ARE VERY RICH.
This information came from a progressive organization, Americans for Tax Fairness, www.americansfortaxfairness.org:
Jeff Bezos: $114 Billion
Bill Gates: $106 Billion
Warren Buffett: $80 Billion
Mark Zuckerberg: $70 Billion
These are the richest people in America, according to the newly published Forbes 400. But since most of their income comes from investments, not salaries or wages, they pay relatively little federal income taxes each year.
Senator Ron Wyden (D-OR) has introduced a plan that closes a couple of major tax loopholes so that the wealthy pay the same much higher tax rate on their Wall Street investments as they pay on their wages and salaries, AND that they pay taxes each year as they profit from their wealth just like workers pay taxes on their wages and salaries each year. This plan would raise about $2 TRILLION over ten years from the very wealthiest Americans.
SIGN THIS PETITION:
This article is smart, easy to understand, and good for the 99%: It’s Time to Tax Financial Transactions:
Read this short information and SIGN THIS PETITION to tax the rich:
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. 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.
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.
A millionaire surtax is a great way to crack down on this injustice. It would:
• 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.
Tell Congress: Tax the super-rich. Pass a millionaires surtax. Click here to sign the petition:
Here is another bit of info to read and a petition to sign:
Donald Trump and congressional Republicans have tried time and again to sell their tax scam to the American people. But the reality is―by a large margin―voters want a Fair Share Tax System that works for everyone, not just the wealthy few. Now, Senators Chris Van Hollen (D-MD) and Sherrod Brown (D-OH) and Representative Don Beyer (D-VA) have introduced the Millionaires Surtax, which polling shows has the support of 73% of voters and over half of Republicans. Become a co-signer of the Millionaires Surtax today to tell Congress to place an additional 10% tax on the incomes of the richest 0.2% of U.S. households so we can begin to create an economy that works for all of us.