July 7, 2012

Why Congress Must End Bush Tax Cuts for Richest 2%

Do you think it’s fair that a wealthy family that earns more than $1 million a year gets an average tax break of $143,000 from the Bush tax cuts, while people making $50,000 a year only get an average tax cut of $1,000?

Even if you’re a millionaire, I’ll bet that your answer is no, it’s not fair. Americans don’t begrudge financial success, we admire it. But when the rich get tax breaks they don’t need and the country can’t afford — hard-working, middle-class Americans have to make up the difference — and that’s not right. A hedge fund manager making millions of dollars from speculating on oil futures should not pay a lower tax rate on his profits than a school teacher pays on the salary she earns from educating our children.

That’s why Americans for Tax Fairness urges you to sign a letter urging Congress to support President Obama’s proposal to end the Bush tax cuts for the richest 2 percent. The House of Representatives, and possibly the Senate, will vote to extend the Bush tax cuts as soon as July 23.

Americans for Tax Fairness is a diverse campaign of national, state and local organizations united in support of a tax system that works for all Americans. It has come together based on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs.

This starts by ending the Bush-era tax cuts for the richest 2 percent and by making critical investments that create and sustain jobs, while taking a balanced approach to addressing America’s fiscal challenges.

If you agree, sign the Americans for Tax Fairness pledge and tell Congress to end the Bush tax cuts for the richest 2 percent.