There are a few things you can do to help out.
Take action to end the Bush tax cuts for high incomes.
If your income is over $1 million, please join the Patriotic Millionaires who are working to increase millionaire tax rates.
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
- Call your Senators to urge passage of the Buffett Rule
- Speak out this Tax Day – learn about opportunities to join events happening around the country.
- Send a letter to the editor about the Buffett Rule.
- Sign the petition to end the Bush tax cuts for high incomes
- If your income is over $1 million, join the Patriotic Millionaires
- Sign the letter to the future: A plea for fair taxes from the next generation
- Write an op-ed about why you believe high-income tax rates should be restored. Contact Ann Manning at ann@wealthforcommongood.org.