Proposed ‘Billionaires Income Tax’ Would Tap Pandemic Profits & Other Investment Gains of Richest 750 Americans to Fund Biden’s Build Back Better Agenda Billionaires in nearly every corner of America got richer during COVID and their pandemic profits—along with other investment income currently not taxed—would be subject to a Billionaires Income Tax now being considered […]
Sen. Wyden’s Billionaires Income Tax Tapping Those Huge Returns Could Raise Big Revenue to Fund President Biden’s Build Back Better Investment Plan America’s billionaires have grown $2.1 trillion richer during the pandemic, their collective fortune skyrocketing by 70%—from just short of $3 trillion at the start of the COVID crisis on March 18, 2020, to […]
The tax plan approved by the House Ways and Means Committee takes a very important step towards a fairer tax system in which corporations and the wealthy contribute more to better serve the common good. As explained below, the $2.1 trillion the plan will raise from corporations and the wealthy is a significant down payment […]
September 13, 2021
Statement on the Ways & Means Committee Tax Plan
Tax plan is an important step forward and provides a down payment; full House and Senate are urged to create an even fairer tax system to build back better. The following is a statement from Frank Clemente, executive director of Americans for Tax Fairness, about a four-page fact sheet from the House Ways and Means […]
READ FULL ARTICLE HERE By Nick Buffie and Bob Lord In recent months, reporting by ProPublica confirmed that some of the wealthiest billionaires in the United States are paying virtually no income tax on the incredible gains in their fortunes.1 Worse, a massive loophole in the tax code allows these billionaires and other wealthy Americans […]
August 8, 2021
97 NATIONAL ORGANIZATIONS SUPPORT PRESIDENT BIDEN’S TAX PLAN
Dear Member of Congress: President Biden’s Build Back Better proposals provide Congress a historic opportunity to move toward an economy that works for all of us, not just the wealthy and corporations. It includes long-overdue investments that will create good-paying jobs, rebuild communities and expand opportunities for working families that will reduce inequality. Importantly, the […]
Nation’s Tycoons Have Enjoyed a $1.8 Trillion Jump in Fortune Since Pandemic Start; Their Rise in Riches Alone Could Pay for Biden’s Proposed Family Investments The nation’s 713 billionaires have seen their collective wealth grow by an astronomical $1.76 trillion, or nearly 60%, since the start of the pandemic in March 2020, according to the […]
Nation’s Tycoons Have Enjoyed a $1.8 Trillion Jump in Fortune Since Pandemic Start; Their Rise in Riches Alone Could Pay for Biden’s Proposed Family Investments The nation’s 713 billionaires have seen their collective wealth grow by an astronomical $1.76 trillion, or nearly 60%, since the start of the pandemic in March 2020, according to the […]
Today, Americans For Tax Fairness (ATF), along with 79 other national organizations, released a letter to Congress in support of President Biden’s Tax Plan. In the letter, the co-signers, write: “Biden’s plans are big and bold public investments financed by requiring the rich and corporations to pay their fair share of taxes. The president’s economic […]
TOPLINES “Stepped-up basis” is a huge tax loophole for rich people that allows them to avoid taxes on investment gains for their entire lives and pass those assets onto heirs who will never be taxed on that increase in value of the assets. President Biden would close this loophole that most benefits billionaires like Jeff […]