Demand Progress

Elon Musk has set aside some of his millions to create and fund a Super PAC in support of Donald Trump.¹ Billionaires like Musk should not have so much power in our political system.

Musk has so much power because of the outrageous wealth he’s acquired thanks to a broken American tax system that favors billionaires and their corporations, like Tesla and SpaceX.

When a few billionaires can manipulate our political system, it threatens our democracy. Congress must rein in Musk by raising taxes on the ultra-wealthy and corporations.

Sign the petition: Tax Elon Musk, the ultra-wealthy, and corporations! Congress must act on economic inequality, power imbalances in America, and the preservation of our democracy.

The ultra-rich and corporations are paying less in taxes since the Trump tax cuts were passed in 2017. The Trump administration’s signature tax policy slashed the corporate tax rate from 35% to 21%, and created huge loopholes that are allowing America’s largest corporation to pay WAY less in taxes.²

Unsatisfied with his existing billions, Elon Musk has also tried to stop his employees from unionizing to demand higher pay and better working conditions. Musk is even trying to destroy the National Labor Relations Board, the agency charged with protecting workers.³

The power of billionaires threatens workers, consumers, voters, and every facet of our democracy. It’s time for Congress to take real action and tax the wealth of billionaires and corporations.

Add your name: Congress must take back some of the power to the people and away from billionaires like Elon Musk. Tax the rich now!

Sources:

1. Wall Street Journal, “Inside Elon Musk’s Hands-On Push to Win 800,000 Voters for Trump,” August 12, 2024.
2. Institute on Taxation and Economic Policy, “Corporate Tax Avoidance in the First Five Years of the Trump Tax Law,” February 29, 2024.
3. Politico, “Musk’s SpaceX seeks to blow up federal labor enforcer,” January 4, 2024.