Demand Progress

Tell Congress: Pass a Wealth Tax

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    Tell Congress: Pass a Wealth Tax

    Petition to Congress:
    I’m writing to demand that you support Elizabeth Warren's wealth tax proposal, which would create $2.75 trillion in revenue in the next ten years. As the pandemic and climate disasters continue to exacerbate wealth inequality, millionaires and billionaires should be taxed in order to support a fair recovery.

    $931 billion. That's how much money billionaires made during the pandemic.1

    That's why we're asking Congress to tax the wealthiest Americans -- those with a net worth of over $50 million. Taxing the 75,000 families with over $50 million could help fund universal childcare, Medicare for All, free college, and more.

    Senator Elizabeth Warren has proposed a two percent tax on assets over $50 million dollars, which would generate $2.75 trillion over ten years. It's time to speak out in support of this important proposal.

    Tell Congress: It's time that the wealthiest Americans pay more taxes!

    As the pandemic exposed the deepest faults in American society, wealth inequality has taken off to new extremes. The wealthy have seen rising investment values, while the rest of the US is careening down a path marked with evictions, debt, and unemployment.

    Economists have warned of a K-shaped recovery from the covid crisis -- meaning that the rich will get richer, and the poor will get poorer.2

    Warren's tax would mean that a family with a net worth of $60 million would pay a two percent tax on their assets over $50 million ($10 million). Billionaires would be taxed three percent on assets over one billion dollars.

    Warren's proposal is our best bet at passing a wealth tax, and getting ultra-rich millionaires to pay up.

    Can you tell Congress to pass a wealth tax?

    1. USA Today, "Jeff Bezos, Elon Musk among US billionaires that got richer during coronavirus pandemic," December 1, 2020.
    2. Washington Post, "How a K-shaped Recovery is Widening US Inequality," December 16, 2020.