Demand Progress

Expose billionaire tax cheats!

Sign the petition:

    Not ? Click here.

    We do not share your email address without your permission. Demand Progress and Watchdog.net may send you updates on this and other important campaigns by email. If at any time you would like to unsubscribe from our email list, you may do so.

    Expose billionaire tax cheats!

    Petition to President Biden:
    I urge you to bring back the IRS report on the 400 highest earners and their taxes in order to gather data for policymaking and shed light on what the richest Americans pay in taxes.

    First thing’s first: We all know we need to raise taxes on millionaires and billionaires so they pay their fair share. BUT, we also need to enforce tax laws so the rich pay the taxes they already owe — because way too many billionaires are getting away with dodging taxes.1

    Trump got rid of a key IRS report when he was president, and President Biden hasn’t brought it back.2

    Sign the petition to the Biden administration: Shed light on the taxes that billionaires pay by bringing back the IRS Richest 400 Americans tax report.

    This public, annual IRS report, the IRS Richest 400 Americans tax report, happened every year until Trump decided to end it as president. The report showed how much the richest Americans were paying in taxes to elucidate how much less of a percentage of their income they were paying than the average person. It also showed shares of national income, capital gains, pass-through business income, and much more garnered by these privileged few.3

    This report is an important tool to hold the rich accountable and craft policies to make the rich pay their fair share.

    The rich are getting richer thanks to offshore tax loopholes and weak enforcement, and they’re dodging taxes in the shadows. We need to end these offshore billionaire loopholes.

    A recent study shows wealthy Americans have stashed nearly $2 trillion in foreign tax havens, with much of that fortune linked to a handful of the country’s richest households.4

    With the help of offshore tax loopholes and weak enforcement, the rich are just going to keep getting richer. We need this annual IRS data so the White House, Congress, and government agencies can craft good policy and enforce the law.

    The IRS report gathers data essential to changing and enforcing tax laws to ensure that the rich pay their fair share. It can also expose wrongdoing, so the American people have a full view of how millionaires and billionaires are gaming the system.

    Urge President Biden now: Bring back the IRS report on America’s richest, so we can Tax the Rich.

    Sources:

    1. The Lever, "Tax-Free Day For The Ultra-Wealthy,” April 18, 2023.
    2. Ibid.
    3. Inequality.org, "President Trump Axed an IRS Report on the Richest 400 Americans. Let’s Bring It Back.,” February 9, 2022.
    4. The Lever, "Tax-Free Day For The Ultra-Wealthy,” April 18, 2023.

     

    Click here to sign