Group of Wealthy Americans Warns US Democracy 'Will Not Survive' Unless Rich Are Taxed Heavily

  • 📰 commondreams
  • ⏱ Reading Time:
  • 24 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 51%

Democracy News

Inequality,Oligarchy,Oxfam

Jake Johnson is a senior editor and staff writer for Common Dreams.

A group of rich Americans marked Tax Day on Tuesday by calling on the U.S. Congress to aggressively tax wealthy people like themselves, warning that the U.S. will remain in a state of 'perpetual chaos' until lawmakers boldly confront the worsening inequality crisis.

'It will wax and wane with wealth concentration, intensifying during periods of extreme inequality when wealth at the top is increasing faster than wealth in the middle, and tapering off to near non-existence when median household wealth increases and inequality moderates.'Erica Payne, founder and president of Patriotic Millionaires, said in a statement Tuesday that the heavily skewed U.S. tax code contains 'the seeds of our destruction.

Inequality Oligarchy Oxfam Patriotic Millionaires Pramila Jayapal Taxation Billionaires Oligarch Act Tax Day Tax The Rich Wealth Tax

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 530. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wealthy Americans are driving U.S. economy and likely delaying need for Fed rate cutsSince retiring two years ago, Joan Harris has upped her travel game.
Source: WashTimes - 🏆 235. / 63 Read more »

The Debate Over Trump Tax Cuts and Wealthy Americans' Tax ContributionsThe debate over the 2025 expiration of the Trump tax cuts highlights the issue of wealthy Americans paying a smaller share of their incomes in taxes. The Bush and Trump tax cuts are major contributors to the federal budget deficit.
Source: commondreams - 🏆 530. / 51 Read more »

Native Americans Experience Higher Mortality Rates Compared to White AmericansNative Americans have a significantly lower life expectancy compared to white Americans, with a median age at death that is 14 years younger. This disparity is a cause for concern and highlights the need for improved healthcare and support for Native American communities.
Source: CBSHealth - 🏆 480. / 51 Read more »

Hamas’s hostages: Who are the five remaining Americans still held by the terror group?Bios of the Israeli American hostages held by Hamas. 133 surviving hostages are still held by Hamas. Five of them are Americans.
Source: dcexaminer - 🏆 6. / 94 Read more »

Hamas’s hostages: Who are the the five remaining Americans still held by the terror group?Bios of the Israeli American hostages held by Hamas
Source: dcexaminer - 🏆 6. / 94 Read more »

FBI Warns Americans Against Using Non-KYC Crypto Money Transmitting ServicesThe FBI says crypto money transmitting services that purposely break the law or knowingly facilitate illegal transactions will be investigated.
Source: BitcoinMagazine - 🏆 461. / 53 Read more »