82 unions and liberal groups call on Biden to create wealth tax

  • by:
  • Source: The Hill
  • 04/09/2021
Scores of unions and liberal advocacy groups pressed President Biden to raise taxes on the wealthiest Americans to help pay for his sprawling infrastructure plan, which he is set to roll out later Wednesday.

Eighty-two national organizations, including the AFL-CIO, MoveOn and the Center for American Progress, sent a letter Wednesday to Biden and Vice President Harris urging them to pay for the multitrillion-dollar proposal by reversing several aspects of the 2017 tax rollbacks implemented under the Trump administration. 

Among the changes the groups say should be made are a return of the top marginal tax rate on the highest incomes to 39.6 percent from 37 percent and raising the corporate tax rate on domestic profits to 28 percent from the current 21 percent. The groups said Biden should also end “the current almost 50% tax discount on investment income from long-term capital gains and dividends” on Americans making more than $1 million per year. 

All of those proposals were included in Biden’s tax plan during the 2020 campaign.

“Your tax and investment plans were the boldest of any major party presidential nominee in modern American history. They received widespread media coverage and, perhaps more significant, your boldly progressive tax plan was heavily attacked by your political opponents, who spent untold millions of dollars and claimed falsely that the middle-class would pay more,” the groups wrote.

“Yet, you won the most votes ever of any U.S presidential candidate, with a central promise of your campaign to make the rich and corporations pay their fair share of taxes," they added. "You have a clear mandate to pursue your agenda.”
by is licensed under

Help FAIRtax Become The Number One Issue in 2024

Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!

Help out with a One-Time Contribution

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help FAIRtax.org bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.

Billing information (REQUIRED)

Payment information (REQUIRED)

To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.


Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!

Connect

Share