Let me be very clear. We cannot allow this country to become an oligarchy in which a handful of billionaires control our economic and political life.
At a time of massive wealth and income inequality, when the three richest people own more wealth than the bottom half of the country and when 46% of all new income goes to the top 1%, we need a progressive tax system which demands that the very wealthy and large corporations start paying their fair share of taxes.
That is what I want, and that is what poll after poll shows the American people want.
We will no longer tolerate huge tax breaks for the one percent while children in this country go hungry.
We will no longer tolerate massive tax loopholes which allow profitable corporations to stash billions in profits in the Cayman Islands and other tax havens, while veterans sleep out on the street.
We will no longer tolerate a disastrous trade policy which allows major corporations to shut down here, send our jobs overseas and then line up for lucrative government contracts.
We will no longer tolerate CEOs of major corporations earning 350 times what their average employee makes.
The insatiable greed of the billionaire class must end. They cannot get it all.
We need an economy and tax system that benefits all of us, not just the few, and we can do that by creating a fair and progressive tax system that demands that wealthy individuals and profitable corporations begin paying their fair share of taxes.
There is a lot of debate in Congress on this issue, but among the people we represent, there is none. Democrats, Republicans and Independents, people of all backgrounds and from all communities believe that it is time for the wealthiest Americans to start paying their fair share.
Many of my Republican colleagues don’t understand that, so today I am asking you to make it clear:
Instead of repealing the estate tax and giving a massive tax cut to the richest two-tenths of one percent, as Trump wants, we must substantially increase this tax on multi-millionaires and billionaires to reduce wealth inequality and preserve democracy in America.
Instead of companies like Amazon, that made $16.8 billion in profits over the past two years but have paid ZERO in federal income taxes — and in fact received a $269 million tax refund — it’s time to demand corporations pay their fair share in taxes so we can rebuild the disappearing middle class.
Instead of encouraging and rewarding Wall Street speculators who gamble trillions of dollars of others people’s money, it’s time for Congress to pass a financial speculation tax and use the money to ensure kids who study hard and do well in school can go to college, regardless of the income of their family.
Instead of giving $1 trillion in tax breaks to some of the richest people and corporations in the history of the world, Congress should be raising the minimum wage to a living wage for working people, $15 an hour, and nothing less.
Today in America, we have a rigged economy that is held in place by a corrupt campaign finance system – one that amounts to legalized bribery.
But the good news is that the American people are with us on all of these issues, and have been for some time. They know that at a time of massive wealth and income inequality, the very rich must pay their fair share of taxes.
And much like we have moved the needle on issues like Medicare for All, college for all, jobs for all, and fighting climate change, we can do the same on this issue as well.
But that starts, like everything else, with making your voice heard. So I am asking:
The greed of the billionaire class has got to end. And if Congress won’t do it, then we must.
In solidarity,
Bernie Sanders
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