Congress pass the "For the 99.8 Percent Act" to tax ultra-wealthy

Petition to Congress: "Tax the ultra-wealthy few by passing the For the 99.8 Percent Act." Add your name:

Over the last decade, Republicans exempted more and more millionaires from the estate tax. A married couple can now keep $22 million from being taxed. Fewer than 2,000 families are now subject to the tax, and thousands of super-rich families are dodging millions in taxes.1 The Trump Tax Scam was a Wall Street handout on steroids. On top of handing freebies to multinational corporations, it gave millions in tax cuts to the richest of the rich by cutting the estate tax. Sen. Bernie Sanders is teaming up with Rep. Jimmy Gomez to undo the damage and force America's ultra-wealthy to pay their fair share, and they need our help. Tell Congress: Tax the ultra-wealthy. Raise the estate tax. Click here to sign the petition. Just three white men ‒ Jeff Bezos of Amazon, investor Warren Buffett and Microsoft's Bill Gates ‒ own as much wealth as the whole bottom half of America. An astonishing $2.9 trillion is in the hands of just 400 people. The top 1%, meanwhile, control 40% of the wealth in our country.2,3  This unequal wealth hoarding starves public services and kills job creation, leaving America sicker, less educated and less prosperous. The estate tax was meant to prevent this kind of wealth from being passed down from generation to generation and stop the creation of a new oligarchy. The For the 99.8 Percent Act would fight massive inequality and inherited wealth by:4 Raising taxes on the ultra-wealthy few, starting with estates worth more than $3.5 million and rising to a 77% tax on inherited wealth over $1 billion. Closing the loopholes that allow many ultra-wealthy families to dodge inheritance taxes altogether. Defying Republican attacks on the estate tax by exempting family farms, most of which are worth less than $1 million, and taxing wealth that rich families gathered through other tax loopholes for the first time. Senate Republicans are now proposing to eliminate the estate tax completely in yet another giveaway to their wealthy donors. We need to show how many people are determined to resist and willing to fight for a progressive alternative. Tell Congress: Tax the ultra-wealthy. Raise the estate tax. Click below to sign the petition: https://act.credoaction.com/sign/sanders-gomez-estate-tax?t=9&akid=33284%2E3130208%2EPsbv4X - Heidi Hess, CREDO Action Add your name: References: Matthew Yglesias, "Bernie Sanders’s new plan to supercharge the estate tax, explained," Vox, Jan. 31, 2019. Avery Anapol, "Study: Wealthiest 1 percent owns 40 percent of country’s wealth," The Hill, Dec. 6, 2017. Chuck Collins and Josh Hoxie, "Billionaire Bonanza 2018: Inherited Wealth Dynasties of the United States," Institute for Policy Studies, October 2018. Yglesias, "Bernie Sanders’s new plan to supercharge the estate tax, explained."

Call your Senators right now and tell them to reject the GOP tax plan that provides a huge Christmas giveaway to the Trumps

GOP Tax plan will make the Trumps' richer

Republicans in Washington think they’re on the verge of passing their tax scam. But the vote in the Senate is expected to be very close. If we can sway just three Republicans to stand with Democrats and oppose the tax plan, we can defeat this bill just like we defeated Trumpcare. A few of the truly disgusting aspects of the Trump tax scam are what it does for Donald Trump and his family, and multinational corporations that ship jobs overseas. If passed, the tax plan would: Weaken the estate tax, which only impacts the richest 0.2% of Americans―including Trump’s family; Lower tax rates on so-called “pass-throughs,” including hedge funds,  private equity firms, and real estate LLCs―like Trump’s; And, reward corporations that have, for years, been dodging taxes―allowing them to repatriate offshore profits at lower rates, encouraging multinational corporations to continue shipping jobs and profits overseas. This bill will not create jobs or higher wages for working people as Republicans claim. It is nothing more than a massive handout to the wealthy and corporations on the backs of working families. Call your Senators right now and tell them to reject Donald Trump and Republican leaders’ tax plan that provides a huge Christmas giveaway to Donald Trump and his family, but a lump of coal for the rest of us. Here’s a suggested call script:

Call: 888-516-5820 My name is _______. I live in TOWN, STATE and I’m a constituent of the Senator's. I want Senator [NAME] to OPPOSE the Senate tax plan that delivers huge tax cuts to America’s wealthiest families and corporations. Instead of tax breaks for hedge funds and private equity firms―that just increase income and wealth inequality―we need a tax plan that invests in critical programs for working families.

- Josh Bivens Director of Research, EPI Policy Center #GOPTAXSCAM