YOUR LETTERS: Why workers should demand a Billionaires Income Tax now

America’s 704 billionaires have gotten $1.7 TRILLION richer over the two years of the pandemic. That’s 57 percent richer at a time when the average workers’ wages increased by just 2.6 percent in 2020 and 4.5 percent in 2021.

America’s billionaires now own more wealth than the bottom half of Americans – that’s 165 million people.

A Billionaires Income Tax would raise $557 billion over 10 years – more than enough to cover historic clean energy investments proposed by President Biden. Or it could more than pay for the cost of universal pre-K as well as making childcare more affordable.

We cannot accept an economy and tax code that allows billionaires to hoard trillions of dollars while working families struggle to afford healthcare, childcare, education and housing. It’s wrong, and we must do better.

FRANK CLEMENTE
Executive Director
Americans for Tax Fairness