Support a billionaire wealth tax

I am writing to express my strong support for a progressive wealth tax on billionaires, as proposed by Senators Bernie Sanders and Elizabeth Warren. In a time of unprecedented economic inequality, it is essential that we take bold action to ensure that the wealthiest Americans pay their fair share in taxes. A billionaire wealth tax is not just about revenue—it is about fairness, democracy, and economic stability. The extreme concentration of wealth in the hands of a few has allowed billionaires to accumulate more money than entire countries while working families struggle to afford healthcare, housing, and education. Under Senator Sanders’ proposal, billionaires would pay a progressively increasing tax on their wealth, starting at 1% on fortunes above $32 million and rising to 8% for those worth over $10 billion. Senator Warren’s plan, though slightly different, would tax wealth above $50 million at 2% and above $1 billion at 6%. Both policies are designed to curb excessive wealth accumulation while generating trillions of dollars to invest in programs that benefit all Americans. This tax is not about punishing success—it is about restoring balance to an economy that has been rigged in favor of the ultra-rich for decades. Billionaires benefit from public infrastructure, a stable economy, government-funded research, and legal protections, yet they contribute far less, proportionally, than the average worker. Many use loopholes, offshore accounts, and complex financial maneuvers to avoid taxes entirely. Meanwhile, millions of Americans pay their full share, struggling under the weight of rising costs and stagnant wages. Implementing a wealth tax would allow us to: • Fund universal healthcare, ensuring no American goes bankrupt from medical bills. • Invest in public education and cancel student debt, providing economic mobility. • Tackle the housing crisis by funding affordable housing projects. • Combat climate change by investing in sustainable infrastructure and green jobs. Opponents argue that a wealth tax would stifle innovation or drive billionaires out of the country. However, history shows that higher tax rates on the wealthy—such as those in the mid-20th century—did not stop economic growth. Instead, they funded the infrastructure, education, and social programs that made America more prosperous and equitable. Additionally, provisions such as an exit tax on wealth leaving the country would prevent tax evasion. If we want to create an economy that works for everyone, not just the top 0.1%, we must take decisive action. I urge you to support and advocate for a billionaire wealth tax, whether through Sanders’ or Warren’s proposal, to build a fairer and more just society. Thank you for your time and consideration. I hope you will stand with the vast majority of Americans who believe that the ultra-rich should contribute their fair share.