Rootstrikers

Tax Billionaires!

$500 million for a yacht?!

Yep, that’s how much Jeff Bezos spent on his new luxury 417-foot-long superyacht. He even spent $75 million on an additional "support yacht" with a helipad to go along with it.1

It’s time to tax the rich, so we can fund health care, education, social safety net programs, and the fight against climate change – not pave the way for more billionaire superyachts.

Sign the petition: Congress must raise taxes on billionaires now — it’s time to tax the rich!

We already knew America’s tax code was written for the mega-rich, but a ProPublica investigation confirmed it. Tax filings from 400 of the richest Americans reveal that once you pass the $2-5 million tax bracket, average tax rates actually decrease.2 And the very richest, like Bezos, Elon Musk, and Mark Zuckerberg regularly avoid paying any income tax at all.

This is another way our economic system is built for millionaires and billionaires while punishing everyone else with disinvestment from social programs, deteriorating public schools, and more expensive health care.

Experts estimate the billionaire’s tax will raise around $360 billion over the next decade. That's federal money that can go towards public programs like Medicare, Social Security, education, clean energy and many others that help us all — instead of lining billionaires' pockets and helping them control our everyday lives.3

Add your name: Congress must raise taxes on billionaires ASAP!

Sources: 

Jalopnik, “Jeff Bezos' New $500 Million Megayacht Didn't Have a Helipad So He Bought a Support Yacht,” April 20, 2023.
ProPublica, “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax,” June 8, 2021.
White House, “President's Budget Rewards Work, Not Wealth with new Billionaire Minimum Income Tax,” March 28, 2022.
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