Update: June 18, 2010

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

-The Expiring Bush Tax Cuts for High Income Earners
-Estate Tax Reform
-Overseas Tax Havens
-Financial Speculation Tax

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 >>>

You can also read The New York Times blog Dealbook, discussing the Institute for Policy Studies report, “Taxing the Wall Street Casino.” And check out Chuck Collins’ HuffPost piece on the report.

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:

Legacy for One Billionaire: Death, But No Taxes >>>

What An Estate Looks Like to the Taxman >>>

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.

Learn more and sign our petition >>>