Billionaires on Trump Economic Team Ready to Push Policies

A collective effort from 85 national, state, and local organizations urges the Senate Appropriations Committee to prioritize protecting IRS funding. This call to action is aimed at creating an economy that is equitable for all individuals by ensuring that the wealthy and big corporations pay their fair share of taxes.

The coalition, known as Americans for Tax Fairness (ATF), is a group of over 400 endorsing organizations that have come together to advocate for a more just tax system. Their mission is centered around the idea that those who have amassed significant wealth should be taxed in proportion to their earnings. This concept involves reforming the federal tax code to treat wealth as a source of income similar to wages, encouraging large companies to operate within the United States rather than sheltering profits abroad, and ensuring that billionaires contribute their fair share to the nation that facilitated their success.

One of the key issues that ATF is addressing is the evasion of corporate taxes by major companies. Despite recording record profits, many corporations exploit offshore tax havens and other loopholes to avoid paying billions of dollars in taxes annually. This practice not only deprives the government of much-needed revenue but also exacerbates economic inequality by allowing wealthy corporations to shirk their responsibilities.

Furthermore, ATF is drawing attention to the severe underfunding of the IRS, which has been a result of Republican-led initiatives. Insufficient funding has left the agency understaffed and ill-equipped to pursue wealthy tax evaders effectively. By restoring adequate funding to the IRS, the government can ensure that all individuals and corporations, regardless of their financial status, are held accountable for their tax obligations.

Another critical aspect of ATF’s advocacy is the taxation of billionaires. With an unprecedented level of wealth concentrated in the hands of a few individuals, billionaires have wielded disproportionate influence over society and the economy. By implementing fair and progressive tax policies that target extreme wealth, ATF hopes to counteract the destabilizing effects of unchecked billionaire power.

Additionally, ATF has been vocal in its opposition to the 2017 Trump-GOP tax laws, which overwhelmingly favored wealthy households and large corporations. These tax cuts further widened the wealth gap and reinforced existing disparities in the tax system. By challenging these laws and advocating for more equitable tax policies, ATF aims to create a more just and inclusive economic environment for all Americans.

Ultimately, ATF’s work is centered around the fundamental tenets of democracy. They believe that a truly democratic society can only exist when everyone has the opportunity to participate fully and when individuals have faith in the integrity of the system. By advocating for tax fairness and holding the wealthy and powerful accountable, ATF seeks to promote a more equitable and just society for all.