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Congress Must Make Billionaires Pay Their Fair Share

Right now, Congress is debating spending priorities — and once again, working families are being told there’s “no money” for healthcare, childcare, or housing.

But as The Guardian and Common Dreams report, there are 938 billionaires in the United States holding a combined $8.2 trillion in wealth. Senator Bernie Sanders and Representative Ro Khanna have introduced the Make Billionaires Pay Their Fair Share Act, a 5% tax on net worth over $1 billion that would raise an estimated $4.4 trillion over the next decade.

That’s not a tax on small businesses or working families. It applies only to extreme wealth — the richest 938 people in the country.

According to reporting from Salon and coverage of the bill’s rollout, the revenue could fund a $3,000 check for every American earning under $150,000, raise teacher pay nationwide, expand healthcare coverage, and invest massively in affordable housing.

Meanwhile, as multiple outlets have documented, wealth inequality has exploded over the past 50 years, with trillions flowing to the top 1% while the bottom 90% struggle to keep up with rising costs.

This is a political choice. And public pressure can change it.

Congress must decide: protect billionaire fortunes or invest in the American people.

It’s time to tax extreme wealth and build an economy that works for all of us — not just the richest 938.

Thanks,
Mary