In July, we’re going to witness some tax fireworks.
After months of debating health care and financial reform, the U.S. Congress will be turning its attention to energy reform, the budget deficit, and taxes. We’re going to need your voice and engagement.
There are four revenue issues that we are tracking closely
We hope you will pick one where you want your voice to be heard this summer.
Stay tuned for the fireworks,
Chuck, Bill, Bob, Ann and Scott
Financial Speculation Tax?
Next week President Obama will travel to Toronto to participate in the G-20 Summit. German Chancellor Angela Merkel, French President Nicolas Sarkozy and Wealth for the Common Good will be pressing President Obama to institute a U.S. financial speculation tax.
In our surveys, you expressed support for a modest financial transaction tax, similar to what exists in England. We support the Harkin-Defazio proposal to collect a penny on every four dollars of financial transactions, with exemptions that assist small investors. This levy would raise an estimated $177 billion a year.
See why John Bogle, the founder of Vanguard Mutual Funds, and John Fullerton, former Managing Director at J.P. Morgan, believe this tax will put a brake on speculative trading while raising urgently needed revenue.
Learn more and sign our petition >>>
A Progressive Estate Tax Reform
Wealth for the Common Good was in The New York Times twice last week, discussing the need for reasonable estate tax reform. We’ll keep you posted as the estate tax reform debate heats up this summer –- and a progressive estate tax bill is introduced in the Senate.
Check out our coverage:
Stop Overseas Tax Havens
In July, we’ll be releasing our report on the business case against overseas tax havens. We’ve teamed up with the American Sustainable Business Council and Business for Shared Prosperity to co-sponsor the campaign, Business and Investors Against Tax Haven Abuse.