Tell your #senators to become original #co-sponsors of the #Billionaires Income #Tax
"Next week, Senate Finance Committee Chair Ron Wyden (D-OR) is widely expected to introduce his Billionaires Income Tax (BIT) to correct the absurdity of billionaires paying lower tax rates than many working people.
According to the Joint Committee on Taxation, the BIT would raise $557 billion over 10 years.[4] It would be applied annually to the growth in value of easily priced assets such as stocks, and to the growth in value of harder to price assets like private businesses when they’re sold.
This new tax would only apply to taxpayers whose net worth either exceeds $1 billion or whose income exceeds $100 million for three consecutive years.
This is a critical piece of legislation that would not only ensure that America’s 748 billionaires are paying income taxes each year―just like working people do―it would also help close the widening wealth gap in America: the richest 1% hold almost one-third (31%) of U.S. wealth while the bottom 50% has just 2.5%.
Click “START WRITING” to send a message to your U.S. senators urging them to become original co-sponsors of the Billionaires Income Tax to ensure billionaires start paying their fair share of taxes."
