Read the full report here. Introduction On this Tax Day 2024—the deadline for working Americans to settle up with Uncle Sam–neither the nation’s richest individuals nor its biggest corporations are paying their fair share of taxes. Simply put, the U.S. tax code is rigged against ordinary people. Many billionaires and big, profitable corporations go tax-free […]
Sarah Anderson | Zachary Tashman | William Rice Institute for Policy Studies | Americans for Tax Fairness Read the full report here. Introduction Corporate tax dodging and executive pay packages have both gotten so far out of control that a significant number of major U.S. corporations are paying their top executives more than they’re paying […]
January 3, 2024
The Ultra-Wealthy’s $8.5 Trillion of Untaxed Income
Authors: Zachary Tashman, senior research & policy associate; and William Rice, senior writer Principal researcher: Zachary Tashman EXECUTIVE SUMMARY According to an analysis by American for Tax Fairness of new Federal Reserve data on household income and wealth, America’s billionaires and centi-millionaires (those with at least $100 million of wealth) collectively held at least $8.5 […]
November 30, 2023
U.S. Billionaires Now Worth a Record $5.2 Trillion
Their Wealth Has Grown 78% Since 2017 Trump-GOP Tax Cuts; Historic Support in Congress for Taxing Billionaire Wealth Growth as Senate and House Democrats Introduce Bills This Week The collective fortune of America’s 741 billionaires has grown to $5.2 trillion at the end of November 2023, the highest amount ever recorded according to an analysis by […]
November 2, 2023
MAGA Republicans’ Proposed Debt Commission
House Republicans, led by MAGA extremist Speaker Mike Johnson, have proposed a “debt commission” to tackle what they’re calling a “debt crisis.” Republicans want to blame “spending” for the debt, but in reality it was their tax cuts for the wealthy and corporations that starved us of revenue and added trillions to the deficit. A […]
October 30, 2023
GOP Wants to Exploit Mideast Crisis to Gut IRS
$14B Israel Aid Package Would Be Funded By Clawing Back Tax Agency Funding That’s Boosting Service & Catching Rich Cheats The following statement was released today by David Kass, executive director of Americans for Tax Fairness, in response to the news that House Republicans want to fund a $14.3 billion aid package for Israel with […]
October 11, 2023
Increasing Deficit Can Be Traced to GOP Tax Cuts
Giveaways to Rich & Corporations Under Bush & Trump Have Caused Over Half Of Budget Shortfalls This Century Today’s monthly budget report again demonstrates that the federal deficit has been largely driven by tax cuts for the rich and corporations enacted by Republican politicians over the past 22 years. The clear answer to rising debt […]
After passing historic corporate tax reform in the Inflation Reduction Act in 2022, Congress now risks erasing those tax-fairness gains with expensive new corporate tax breaks. A package of bills reported out by the House Ways & Means Committee on a party line vote in May would extend—at a long-term cost of over $1 trillion—three […]
House Republicans want to reverse a provision of the 2017 Trump-GOP tax law that limits the ability of corporations to cut their taxes by deducting interest payments from their taxable income. This expanded loophole would cost up to $200 billion in lost revenue over 10 years and boost the fortunes of Wall Street raiders who […]