Wow! Momentum around the idea of taxing the rich at a fair rate is growing. Thousands of DFA members have signed our petition calling for higher taxes for the 1%. And on Sunday, Democracy for America CEO Yvette Simpson made the case for a more progressive tax structure on ABC.
Check out a clip from Yvette’s awesome appearance on “This Week with George Stephanopoulos”, then sign our petition telling the Democratic Party that it’s time to make billionaires pay their fair share. — The DFA Team
Are you tired of seeing billionaires exert undue influence over our politics, Richard?
Want to see them pay their fair share instead?
Over the course of the past few weeks, several of the most popular and progressive Democrats out there have pitched serious proposals to tackle inequality and fund the social safety net in the most direct and effective way possible — by hiking taxes on the absurdly wealthy:
- In January on 60 Minutes, Alexandria Ocasio-Cortez floated the idea of a 70% top tax rate, an idea Anderson Cooper — of the Vanderbilt family, it should be noted — immediately called “radical,” even though it was the norm in America just decades ago.
- Earlier this month, Elizabeth Warren proposed the Ultra-Millionaire Tax, which would redirect 2% of the wealth of the richest Americans in order to support progressive priorities.
- And yesterday, Bernie Sanders introduced a reinvigorated estate tax that would raise a mind-blowing $2.2 trillion from America’s 588 billionaires — even as Republicans move to get rid of the estate tax to save those billionaires more money.
Democracy for America members have been fighting to address the income inequality crisis in this country for years. Now, some of our boldest leaders are stepping up with real, concrete plans to level the playing field and make important innovations like Medicare for All and a Green New Deal possible.
Predictably, the 1% aren’t taking this threat to their ridiculously full bank accounts lightly. In fact, billionaire coffee-peddler Howard Schultz told CNN that AOC’s marginal tax rate proposal was the thing that drove him to position himself for an “independent” run for president on a platform of — as far as I can tell — keeping his own wealth intact.
But here’s the thing: Raising taxes on the extremely wealthy is very, very popular. A recent HarrisX poll shows that nearly 6 in 10 Americans favor AOC’s 70% tax plan. And pollster YouGov found similar numbers in favor of a wealth tax.
The solutions to the crises we are facing as a nation — from climate change, to a broken health care system, to our crumbling infrastructure — aren’t going to come cheap. And we can’t keep relying on the philanthropy of a handful of obscenely wealthy aristocrats to get us out of this mess.
Enough is enough. The people are demanding a progressive tax structure that ensures that the rich invest resources into the structures that made their success possible — instead of extracting more and more wealth from our communities.
Thanks for standing up for a more equal and progressive society.
Karli Wallace Thompson, Political Director
Democracy for America