Tell the Senate Finance Committee Chairman: No Tax Giveaways for the Wealthy and Giant Corporations
U.S. Sen. Orrin Hatch — the chief architect of the Senate tax giveaway to billionaires at our expense — is requesting input “from experts and stakeholders” on how best to reform the tax system.
He wants to hear from corporate lobbyists and billionaires who stand to profit from his rigged proposal, but he needs to hear from you.
Sign the Petition on Tax Reform: The Wealthy and Corporations Must Pay Their Fair Share
We are strongly opposed to the recent tax and budget proposals from President Trump and Republican leaders in Congress. They seek to cut funding for Social Security, Medicaid, education, medical research, Meals on Wheels and road repairs to pay for tax breaks for wealthy corporations and the rich.
We believe that real tax reform means that not one penny should be spent on tax cuts for millionaires, billionaires or wealthy corporations.
To prevent the tax code from becoming further tilted in favor of the most fortunate, tax reform legislation must include these elements:
- Corporations should pay their fair share. For example, we should close loopholes that allow tax deductions for multimillion-dollar CEO bonuses.
- Long-term investment and savings should be incentivized; for instance, a tiny sales tax on Wall Street trades should be enacted to reduce market speculation.
- Tax breaks that encourage multinational corporations to shift jobs and profits offshore must be eliminated. Corporations should also pay the $750 billion in taxes they owe on $2.6 trillion in offshore profits.
- No new tax breaks should be given to billionaires. This could be accomplished by preserving the estate tax and not creating an incentive for wealthy individuals to further game the system by classifying their income as “pass-through.”
The revenue generated by tax reform should be reinvested in our communities and fund our nation’s education and transportation systems, while also strengthening Social Security, Medicare and Medicaid.
Thank you for considering our support of a tax plan that doesn’t put the priorities of working families like mine below those of billionaires and major corporations.