America Needs a Care Infrastructure More Than Billionaires Need Their Tax Breaks
“Tax fairness matters to America’s moms and voters, and it’s long past time for the wealthiest Americans to pay their fair share of taxes. The Billionaires Income Tax would raise $250 billion in revenue over the next decade – more than enough to cover the critical investments moms and families are counting on, including paid family/medical leave, as we try to create a just recovery from the pandemic that will allow moms, families, businesses, and our economy to thrive.
“The Billionaires Income Tax would apply only to about 700 households in the entire country, those with $1 billion in wealth or $100 million in earnings for each of the last three years. These wealthy households saw their wealth grow dramatically during the pandemic, at the same time moms across the country were losing or being forced to leave their jobs, seeing their child care centers close, turning to food banks to feed their kids, and in some cases losing their homes.
“America needs a care infrastructure more than billionaires need their tax breaks. We need a fair tax system that counters, rather than entrenches the appalling racial, gender and income inequality our country is facing today. We need a tax system without the loopholes and dodges that allow the ultra-wealthy to pay less in taxes than bus drivers, teachers, and factory and food service workers.
“We need revenues to pay for a care infrastructure that includes paid family/medical leave when serious illness strikes or a new child comes, quality affordable child care, a permanently expanded Child Tax Credit, home- and community-based services for people with disabilities and seniors, and living wages and a path to citizenship for care workers. Care can’t wait. Tax fairness can’t wait. Paid leave is essential.”