Action alert: Co-sign The Millionaires Surtax!
It’s time that millionaires start paying their fair share.
Our nation faces two big obstacles, among others, to creating an economy that works for all of us:
- The gap between the rich and everyone else keeps getting wider. While those at the top are soaring way ahead, working families are struggling.
- The wealthy and corporations are not paying their fair share of taxes. If they did, we could raise trillions of dollars to protect Social Security, Medicare and Medicaid, and to make new investments in healthcare, education, housing, childcare, infrastructure and clean renewable energy.
Senators Chris Van Hollen (D-MD) and Sherrod Brown (D-OH) and Rep. Don Beyer (D-VA) have introduced a Millionaires Surtax ― paid by the richest 0.2% ― that would begin to close the gap between the rich and everyone else and allow us to fund new investments that benefit working families.
The Millionaires Surtax will create an additional 10-percentage point tax on all income earned by households making $2 million or more each year and individuals making $1 million or more.
According to the Tax Policy Center, the surtax will generate an additional $635 billion over ten years that can be used to invest in critical services for working families.
A Millionaires Surtax would apply to all income earned by the top 0.2% ― including wages, salaries and wealth that comes from Wall Street investments such as stocks. The rest of us (the other 99.8%) would not pay an extra dime.