It stands to reason that any millionaire should pay at least the same tax rate as their secretary, right?Incredibly, that’s not how it currently works.
A few months back, billionaire Warren Buffett said he pays just a small fraction of the tax rate his secretary pays. Everyone, including him, thought this was nuts.
During the State of the Union address, President Obama called on Congress to fix this injustice, and Senator Sheldon Whitehouse of Rhode Island stepped up in a big way. Yesterday, he introduced legislation - called the "Paying a Fair Share Act" - that would require people making more than a million dollars a year to pay a minimum of 30% of their income in taxes.
Senator Whitehouse is standing up to champion the cause of the 99% and we should show him he has our support.
Sign this thank you card for Senator Whitehouse and show him how much we appreciate him taking the lead.
Let’s take a look at some of the potential effects of this bill: it would affect just a quarter of all millionaires, about 95,000 taxpayers, and it would bring in roughly 50 BILLION dollars a year.
When income taxes were first instituted in this country, their purpose was to tax wealth and not work. Now, hardworking families are taxed at a higher rate than those with great wealth.
It’s not just Mr. Buffett. Last week, multi-millionaire and former Governor of Massachusetts Mitt Romney publicly released his taxes--and we found out he was paying less than 15%. That’s a small fraction of the rate most hardworking families pay.
Apparently, greed is good for your tax rate.
Sign the card for Senator Whitehouse. Send a message to all lawmakers that when they stand up for us, we will stand up for them.
The tax code in this country is unfair and broken. There are many executives, CEOs and leaders who couldn’t do their jobs if it weren’t for the hard work and support of their secretaries. Mine is a wonderful woman named Iris and I’ll bet you $10,000 she works harder than Mitt Romney.
Working twice as hard to make ends meet shouldn’t mean you have to pay twice as much in taxes.
In solidarity,
Mary Kay Henry, SEIU President
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