Senate Democrats have
officially proposed legislation requiring incomes of $1,000,000.00 or more—must
pay at least 30% in taxes. Finally,
legislation that makes the 1% pay their Fair Share like the other 99% does!
Popularly known as the
“Buffet Rule” after billionaire Warren Buffet, who has openly promoted higher
taxes laid on the mega-rich, especially after admitting that he legally paid half
the percentage amount that his secretary had to pay. This is largely due to the capital gains rate
(taxes on investments and dividends) being set at 15%. For example, Warren Buffet earns an annual
salary from Berkshire-Hathaway of a reported $100,000. This is taxed at the normal income tax rate
of 35%. But the millions that he made
over the past year in investments and dividends are only taxed at 15%.
There’s no wonder at
why the disparity between the rich and poor is getting larger every year. 99% of Americans do not have the luxury of
making a steady income without having to do anything for it. Like some of the candidates running for
president, how can you really be in touch with the people of this nation, if
you are making over $20,000,000.00 a year without lifting a finger? And when you pay a 14% tax rate on those tens
of millions of dollars, it does not seem to resemble how the other 99% of
Americans are working day in and day out at their full-time jobs that earn
incomes that are a fraction the size and that are taxed at double the rate. In fact, the average income of an individual
is one quarter of one percent or 0.0025% of $20,000,000.00!
You would think this
would be common sense. But there are
serious doubts that the legislation that would add justice and fairness to our
tax system—in favor of the extreme majority of the population—will actually pass
Congress before the election. That’s why
we are calling for the 100 Million March!
March to the Polls!
March for a Better
America!
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