Tell Congress: Address Inequality by Taxing Billionaire Wealth Gains
Elon Musk has not taken a salary since 2019. Mark Zuckerberg has taken a salary of $1 for over a decade. Jeff Bezos took home a salary of $81,000 when he was the CEO of Amazon. But rest assured, none of this is done out of altruism. The bulk of the compensation packages for these CEOs involve company stock options, which they don’t pay taxes on until they sell them. As a result, they don’t sell them and instead borrow against their value to avoid paying taxes.
The Billionaire Minimum Income Tax will ensure that every household worth over $100 million pays an effective tax rate of at least 20% on their full income each year. This includes the income they currently report on their taxes as well as the gains on their unsold assets such as stocks.
We cannot continue to have an economic system that has one set of rules for millionaires and billionaires and another for working people. Not only is it unsustainable, it puts our democracy and civil liberties at risk when so much wealth and power is concentrated in the hands of so few. The ultra wealthy are already spending billions in elections to curry favor with politicians. Taxing their wealth helps to lessen their influence.
Add your name to demand Congress pass the Billionaire Minimum Income Tax and tax millionaire and billionaire wealth gains.