Read the full report here. Introduction Just 50 billionaire families have already injected more than $600 million collectively into the crucial 2024 elections, with that number sure to show accelerating growth in the final six months of the campaign. These billionaire clans donated the $600 million mostly to political parties, political action committees (PACs) and […]
Their Wealth Has Doubled Since 2017 Trump-GOP Tax Cuts, Which Mostly Went to Rich, Cost Trillions & Republicans Wants to Extend This Tax Day, families across the country are once again paying their fair share, while billionaires, whose wealth is skyrocketing, are not. The collective fortune of America’s 806 billionaires hit a record $5.8 trillion, according […]
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 […]
Richest 13 Arizonans’ Wealth Now Tops $42 Billion; Debt Caused by Trump Tax Cuts Used By GOP As Excuse to Cut Services Even as politicians in Washington claim we can’t afford Social Security for Arizona’s working families, the collective fortune of Arizona’s 13 billionaires topped $42 billion as of February 1. That’s a near record high […]
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 29, 2023
Billionaire Income Tax Sign-On Letter to Congress
Dear Senator: The undersigned organizations urge you to support the Billionaires Income Tax proposed by Senate Finance Committee Chairman Ron Wyden. It is a popular, progressive and robust funding source for making vital public investments in working families and communities that will also end the scandal of billionaires paying little or no federal income tax. […]
The Supreme Court is at risk of invalidating a dozen or so rules enacted over many decades to more fairly tax multinational corporations, financial engineers on Wall Street, and other ultra-wealthy taxpayers. The wrong decision would allow them to resume shielding large parts of their hefty incomes from effective taxation. If the Court upholds the […]
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 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 […]
Now House Republicans Hope to Use a Government Shutdown to Gut IRS’s Newly Restored Focus on Rich Tax Cheats Recently published data from the Internal Revenue Service (IRS), analyzed by Americans for Tax Fairness (ATF), reveals that during the last year of the Trump administration—2020—working families receiving the Earned Income Tax Credit (EITC) were audited at […]