The online activist organization RootsAction is responding to the arrival of the world’s first trillionaire by launching a nationwide campaign with constituents urging state legislatures to raise taxes on the mega-wealthy.
"Even with little bits of a trillion dollars," RootsAction campaign coordinator David Swanson said, "we could have great things in the United States: free preschool for anyone who wants it ($35 billion), Medicaid for the uninsured ($214 billion), housing for everyone without ($29 billion). We could have great things for the world that would make the world love us: an end to world hunger ($93 billion), an end to extreme poverty worldwide ($318 billion). Or we could just give $2,868 to every person in the United States."
"Much of Elon Musk's wealth comes from U.S. tax dollars," he added, "including for the unpopular and nonfunctional so-called golden dome. We should absolutely take much of that back rather than leaving him with the power of an oligarch."
RootsAction notes that some states have already taken steps in the direction of taxing excessive wealth.
Massachusetts has put in place a tax of 4% on taxable income in excess of a million dollars. Contrary to scare stories, the economy in Massachusetts hasn't collapsed. Unemployment hasn't soared. All the rich people haven't fled to live in some less desirable state. The state has simply raised $2.2 billion a year to put to use for the public good.
Washington State has created a 9.9% tax on income above $1 million, expected to bring in roughly $3 billion to $4 billion a year, starting in 2029. And Washington D.C. and six states (CA, HI, NY, NJ, OR, MN) have a higher tax rate for the wealthiest than Massachusetts.
RootsAction has created a webpage at DefundOligarchs.org that enables constituents to email their state legislators.
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RootsAction is dedicated to galvanizing people who are committed to economic fairness, equal rights for all, civil liberties, environmental protection -- and defunding endless wars. We mobilize on these issues no matter whether Democrats or Republicans are in power in Washington D.C.
"Even with little bits of a trillion dollars," RootsAction campaign coordinator David Swanson said, "we could have great things in the United States: free preschool for anyone who wants it ($35 billion), Medicaid for the uninsured ($214 billion), housing for everyone without ($29 billion). We could have great things for the world that would make the world love us: an end to world hunger ($93 billion), an end to extreme poverty worldwide ($318 billion). Or we could just give $2,868 to every person in the United States."
"Much of Elon Musk's wealth comes from U.S. tax dollars," he added, "including for the unpopular and nonfunctional so-called golden dome. We should absolutely take much of that back rather than leaving him with the power of an oligarch."
RootsAction notes that some states have already taken steps in the direction of taxing excessive wealth.
Massachusetts has put in place a tax of 4% on taxable income in excess of a million dollars. Contrary to scare stories, the economy in Massachusetts hasn't collapsed. Unemployment hasn't soared. All the rich people haven't fled to live in some less desirable state. The state has simply raised $2.2 billion a year to put to use for the public good.
Washington State has created a 9.9% tax on income above $1 million, expected to bring in roughly $3 billion to $4 billion a year, starting in 2029. And Washington D.C. and six states (CA, HI, NY, NJ, OR, MN) have a higher tax rate for the wealthiest than Massachusetts.
RootsAction has created a webpage at DefundOligarchs.org that enables constituents to email their state legislators.
_________________________
RootsAction is dedicated to galvanizing people who are committed to economic fairness, equal rights for all, civil liberties, environmental protection -- and defunding endless wars. We mobilize on these issues no matter whether Democrats or Republicans are in power in Washington D.C.
