The world’s richest people aren’t paying their fair share. According to the latest data, the ultra-wealthy are paying an effective annual tax rate of 0.3% of their wealth.

Every tax dollar that billionaires avoid paying could have been used to invest in public goods like education, healthcare, and infrastructure. Or to address climate change. Or to fight poverty!

President Biden’s 2025 budget blueprint included a 25% minimum tax on Americans with more than $100 million in wealth. Now, with Vice President Kamala Harris as the nominee, we’ve got a key opportunity to ensure economic justice is on the agenda.

Let’s show our support for taxing extreme wealth! Add your name in support of President Biden’s plans for a Billionaires Tax.

This couldn’t come at a better time. A new report, commissioned by Brazil for the G20 (the global group of the world’s most powerful economies), reveals that the globe’s ultra-high-net-worth individuals have seen their fortunes increase by 7.5% a year for the past four decades, even accounting for inflation.

It’s great that President Biden is adopting this billionaire minimum-tax approach -- it means this idea is finally getting real support. But Biden hasn’t thrown his weight behind this proposal yet. Now, we’ve got a key opportunity to ensure this is on the agenda for him and for VP Harris. The vast majority of Americans, including 63% of Republicans, support plans to increase taxes on the rich. Let’s raise our voices together and push for some real change.

Thank you for taking action.

Chuck Collins, for the Inequality.org team