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 […]
September 28, 2023
Billionaires Are $2.2 Trillion Richer Since 2017 Trump-GOP Tax Law
Richest 748 Americans’ Wealth Up 77% Since Cuts Passed, Tops $5 Trillion; Debt Caused by Trump Tax Cuts Now Used By GOP As Excuse to Cut Services The collective fortune of America’s 748 billionaires topped $5 trillion in September 2023, a near record high, and up an astounding $2.2 trillion (77%) since enactment of the […]
One year ago today, enactment of President Biden’s Inflation Reduction Act (IRA) brought our nation a step closer to genuine tax fairness. And since the roughly $500 billion the IRA will raise over the next decade exclusively from the rich and corporations will fund critical responses to the climate crisis, it also brought us a […]
House Tax-Writing Panel Extends Costly Business Loopholes After Republicans Demanded Vital Services Be Cut in Debt-Limit Deal Americans for Tax Fairness executive director David Kass today released the following statement after the House Ways and Means Committee approved on a party-line vote the GOP Tax Scam 2.0, a partisan package of tax cuts heavily tilted to […]