America’s wealthiest families are set to pass down $21 trillion in untaxed fortunes over the next two decades. Bernie Sanders’ For the 99.5% Act would put an end to this. Under this legislation, the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes. The estate tax, the “silver spoon tax”, is the only curb on dynastic wealth that otherwise grows unchecked. But under the Trump-GOP tax law, the estate tax was gutted, while high-powered attorneys and accountants have dreamed up loopholes that allow billionaires to pass down fortunes tax-free. If we strengthen the estate tax, we can raise billions to invest in healthcare, infrastructure, education, and more. But the GOP wants to eliminate it entirely to protect billionaires’ heirs while working families struggle. We cannot let billionaires dodge taxes while working communities are left behind. Add your name to tell the Senate to pass the For the 99.5% Act and tax ultra-wealthy estates now.
Richard Stallman
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