Americans for Tax Fairness reporting shows that just 50 billionaire families have already spent more than $600 million in an attempt to influence the 2024 presidential and congressional elections. Peter Thiel, a tech billionaire, has spent millions of dollars to influence our elections including investing millions to launch J.D. Vance's political career. Now, Vance stands as the Republican VP nominee alongside Trump, a stark example of how billionaire money directly shapes our highest offices.
I want Congress to enact comprehensive tax reforms that address the growing influence of billionaire wealth in our political system. This includes passing the Billionaire Minimum Income Tax, which would ensure the nation’s handful of wealthiest households pay at least a 25% tax rate on their total income each year, including unrealized capital gains. While applying only to the wealthiest 0.01% of Americans—those worth $100 million or more—this needed tax would generate over $360 billion in revenue over 10 years.
Every day we delay, billionaires further mold our politics to serve their interests. It's time for the wealthiest to pay their fair share in taxes and for our government to represent the people, not the powerful. Thanks.
