From the Center for American Progress (http://www.americanprogress.org):
President Biden released his proposed budget for 2023—and it contains some important changes. Among them is Biden’s proposed billionaire minimum income tax that would set a minimum income tax of 20 percent on households worth $100 million or more.
To put the proposal in context, billionaires on average pay about 8.2 percent in federal income tax—and many pay even less. That’s a little more than half of the rate paid by many middle-class Americans such as firefighters and teachers. Basically, if you’re reading this, you’re probably paying a higher tax rate than Jeff Bezos, Bill Gates, or Elon Musk.
As Americans sit down to file their own taxes ahead of Tax Day, they should keep this in mind and fight for an America where the wealthiest pull their weight and pay their fair share of taxes.
Share this graphic to fight for a more equitable tax system:
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