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Be Fiscally Smart - Stop Protecting Billionaires and Start Protecting Americans

To: Rep. Carter, Sen. Cruz, Sen. Cornyn

From: A constituent in Leander, TX

June 23

I am demanding to know why working class Americans are expected to shoulder a heavier tax burden than the wealthiest people on Earth. How is it possible that ordinary families, small business owners, teachers, nurses, and retirees pay significantly higher effective tax rates than billionaires whose wealth grows by billions of dollars each year? Reports have estimated that Elon Musk’s effective tax rate on the growth of his wealth was roughly 3.3% during certain periods. Meanwhile, millions of Americans pay far higher rates on every single paycheck. Something is fundamentally wrong with a tax system that asks average people to contribute more, proportionally, than those who have accumulated unimaginable fortunes. Every year Congress tells us there is not enough money. Not enough money for schools. Not enough money for healthcare. Not enough money for infrastructure, public lands, veterans, Social Security, or Medicare. Yet somehow there is always enough political will to protect tax loopholes that overwhelmingly benefit only the ultra-wealthy. If Congress is serious about fiscal responsibility, then prove it. Stop asking working families to sacrifice while billionaires and multimillionaires continue to benefit from a system designed in their favor. Stop adding to the national debt while refusing to address one of the most obvious sources of revenue available. Want to reduce the deficit? Tax extreme wealth fairly. Want to strengthen America’s finances? Tax extreme wealth fairly. Want to balance the budget? Tax extreme wealth fairly. The American people are tired of a tax code that rewards wealth while placing a greater burden on work. We are tired of hearing that vital programs must be cut while the richest individuals in the country continue to enjoy tax advantages unavailable to everyone else. Congress must act. Close the loopholes. Restore fairness. Require the wealthiest Americans to pay their fair share, just like the rest of us do every single day.

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