* Set up an interview with Ann Manning at ann@wealthforcommongood.org.
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Wealth for the Common Good is considering several campaigns that would mobilize wealthy individuals, investors, and business leaders to:
- Tax financial transactions
- End overseas tax havens
- End high-income tax cuts
- Levy a progressive estate tax on large fortunes
- Create additional tax brackets for higher incomes
- Tax income from wealth the same as income from work – eliminate the tax preference for capital gains and dividends
- Establish a price on carbon
- Institute a progressive consumption or luxury tax
- Create a wealth tax
- Raise or eliminate the cap on social security payroll tax
*Download an overview.*
What do you believe to be the most important policy priorities?
What campaigns do you personally feel motivated to work on?
What policies on our list engage you?
What’s missing?
What questions do you have?
* * * * * * * *
In January 2009, we began a listening project to elicit feedback on seven policy proposals. We sought out people who would pay higher taxes under these policies and support progressive tax reform. We received input from over 50 business leaders and individuals with high incomes and wealth through interviews, surveys, focus groups, and workshops.
The people we spoke with saw an increased urgency for– and opportunities for– tax reform because of the economic downturn. Interviewees talked about progressive tax reform in relation to tax fairness, fiscal responsibility, revenue needs, and accountability.
“It is fundamental to our American values that we have a strong meritocracy which provides equality of opportunity to all Americans. Our current tax structure is regressive and unfairly burdens those in the middle and bottom tiers. Ensuring that everyone has an opportunity to be successful and pursue their dreams means ensuring that each and every American contributes appropriately to the nation’s well-being.”
–Todd B. Achilles, Managing Member, Balius Ventures LLC
“I want to share what I have so that others may also enjoy good health and well-being. It’s a matter of basic caring and fairness for all Americans.”
–Arwen Bird, Anti-violence Advocate
“I know a robust estate tax should be preserved because there is no twenty-five year old who needs to inherit millions of dollars. Quite the contrary, I’d much rather have inherited a society where the government has enough revenue to provide health care for children.”
–David Krakow, Teacher
Resistances to paying higher taxes include military spending and interest on federal debt. Other major concerns include accountability and efficiency of the federal government — people are concerned about how their tax dollars will be spent. However, there was strong interest among the business leaders and wealthy individuals we spoke with to get involved in a tax fairness campaign by signing petitions, speaking to the media and elected officials, and reaching out to their peers.
Through this process we identified our first campaign, to mobilize business leaders and high-income individuals to end the high-end tax cuts.