43,000 Millionaires, Maybe Trump, Get $1.6M Average Windfall This Year, Dwarfing Average American’s $1,200 Check; Billions Wasted As State And Local Governments Struggle Leading members of Congress and a broad coalition of advocacy groups under the Americans for Tax Fairness umbrella have launched a campaign to repeal a huge tax break for millionaires included in […]
Rich Business Owners—Maybe Including Trump—Allowed Costly Break on Old Losses Little noticed when the $2.2 trillion Coronavirus rescue package was enacted were two expensive tax breaks for corporations and wealthy business owners snuck into the CARES Act that are starting to garner critical attention and opposition. Joe Biden is just one political leader pushing back […]
Wealthy Business Owners Allowed to Transform Pre-Crisis Losses Into Gains A tax fairness watchdog today blasted two little-noticed provisions in the recently enacted Coronavirus economic rescue package that hand wealthy business owners and corporate shareholders about $200 billion in tax breaks. In a letter to members of Congress, Americans for Tax Fairness (ATF) called for […]
Financial Aid Bill Contains $280 Billion in Business Tax Breaks—Half the Aid Goes to Business, Only a Quarter to Families, & a Big Break for Wealthy Business Owners Like Trump America’s unprecedented health and economic emergencies demand quick enactment of the coronavirus aid package passed by the U.S. Senate, but the flaws in that bill […]
Letter from 72 National Organizations March 18, 2020 Dear Member of Congress: We write to urge an aggressive response to the economic and societal impact of the novel coronavirus outbreak, but caution against allowing this national emergency to be used to demand tax cuts that will be poorly targeted, lack the biggest bang-for-the-buck and favor […]
Major candidates in Democratic presidential field offer fiscal plans many times the size of Clinton’s in 2016 Five leading candidates for the Democratic presidential nomination who have announced detailed revenue and investment plans all proposed much more robust plans than Hillary Clinton offered in 2016, showing how far the debate has shifted in the progressive […]
February 10, 2020
ATF Letter to W&M Re TCJA Oversight
The Honorable Richard E. Neal Chairman, House Committee on Ways & Means U.S. House of Representatives Washington, D.C. 20515 The Honorable John Lewis Chairman, Oversight Subcommittee House Committee on Ways & Means U.S. House of Representatives Washington, D.C. 20515 The Honorable Mike Thompson Chairman, Subcommittee on Select Revenue Measures House Committee on Ways & Means […]
December 10, 2019
KEY FACTS ABOUT INCOME, WEALTH & TAXES
NOTE: There are many measures of American wealth and many ways of estimating those measures. This fact sheet uses the most current, accessible and reputable sources available for each data point, which in some cases leads to inconsistencies between studies, such as in the years covered. Also because of the multiplicity of wealth studies, figures […]
December 10, 2019
EXTREME WEALTH IS DISRUPTING OUR DEMOCRACY
“You can have concentrated wealth in the hands of a few or democracy. But you can’t have both.” — Louis Brandeis, Associate Justice of the U.S. Supreme Court, 1916-1939 Levying a Millionaires Surtax of 10-percentage points on the income of the richest 0.2% will raise $635 billion for public investments, according to the Tax Policy […]
December 6, 2019
TALKING POINTS: STOP DRUG CORPORATION PRICE GOUGING & TAX DODGING
Talking Points Prepared by Americans for Tax Fairness and Health Care for America Now December 2019 SUMMARY Congress is currently considering legislation to stop drug corporation price gouging and lower the cost of prescription medicines. We all have a stake in the Lower Drug Costs Now Act because taxpayers heavily subsidize drug corporation profits. And […]