Author: andrea

The Honorable Ron Wyden Chairman, Senate Committee on Finance 219 Dirksen Senate Office Building Washington, D.C. 20510 Dear Mr. Chairman:  On behalf of the Americans for Tax Fairness, a coalition of hundreds of national and state-based organizations, I am writing to express our significant concerns with the Enhancing American Retirement Now (EARN) Act, which the […]

As President Biden and Congressional Democrats revise their economic plan, they should at a minimum retain the tax surcharge on income for the very wealthy that’s already been passed by the House of Representatives in the Build Back Better Act (BBBA)—a 5% surcharge on incomes over $10 million and an additional 3% surcharge on incomes […]

IRS Data from ProPublica Reveals Some of America’s Richest Paid Next to Nothing On Their ‘True Income’ in 2013-18 Twenty-six of the richest people in America paid an average federal income tax rate of just 4.8% over six years (2013-18) when the growth in their wealth is counted as income, according to Americans for Tax Fairness […]

What is a billionaires income tax? A billionaires income tax more fairly taxes billionaires and other super-wealthy people by taxing a major source of their income that often goes completely untaxed now: the increase in the value of their assets, such as corporate stocks, bonds and real estate.  Who has proposed a billionaires income tax? […]

A billionaires income tax and a wealth tax on the ultrarich would both make billionaires pay closer to their fair share of taxes. They would also both raise a lot of revenue to lower the cost to families of necessities like healthcare, childcare, and housing. But the two types of tax are different in many […]

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Groups Mobilizing Nationwide Monday, April 18, to Launch Election-Year Campaign Highlighting Largely Untaxed Pandemic Wealth Gains of Billionaires and Need for a Billionaires Income Tax Featured: Zoom Media Event with Sen. Ron Wyden, Rep. Jamaal Bowman and Robert Reich, Monday, April 18, 1pm ET Tax Day 2022 (Monday, April 18) will be the launch date […]

$2 Trillion, or 70%, Pandemic Wealth Gain of Nation’s 740 Richest May Well Go Untaxed, Making Case for President Biden’s Proposed Billionaires Income Tax A Similar Tax Proposed by Senate’s Chief Tax Writer Would Reap Up to $555 Billion to Lower Working-Family Costs for Healthcare, Childcare & Other Vital Services On Tax Day, April 18, […]

President Joe Biden and Sen. Ron Wyden (OR), chairman of the Senate tax writing committee, have proposed similar versions of a billionaires income tax with these benefits:  Billionaires who now go tax-free will finally have to pay their fair share—or at least pay something. Despite their enormous wealth, America’s billionaires can now often go years […]

Yearly Tax on Investment Gains of Ultrarich, Now Largely Untaxed, Will Raise $360 Billion  Sticking to his winning 2020 campaign pledge to more fairly tax the rich and corporations, President Biden plans to use a billionaires income tax to help fund his proposed federal budget for next year, according to a fact sheet released on […]