Background

Our tax policies are widening the inequality gap:

  • Millionaires pay a far lower tax rate today than they did 50 years ago. In 1960, the top 1% paid an effective tax rate of 31.2%. Now it’s only 21%.
  • The wealthiest 400 people in the country pay an average tax rate of only 18% – a rate that’s lower than most middle-income families.
  • The preferential tax rate for capital gains and dividends is only available to wealth holders, and the wealthiest 10% owns 80% of stock market wealth.
A number of policies are up for debate that could make our tax system more fair and just:
  • End the Bush tax cuts for high incomes
  • Enact the Buffett Rule and increase millionaire tax rates
  • Tax wealth like work – tax capital gains like ordinary income
  • Close the carried interest tax loophole
  • Progressive estate tax

Actions

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