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We Need A Wealth Tax

No deductions, no exemptions, no loopholes.

It’s time the wealthy pay up.

Tax breaks for the wealthiest people in our country aren’t working, and aren’t fair. If we are going to solve the widespread issue of economic inequality in America, we need to stop cutting taxes for the rich.

Tom called for an additional 1 percent annual wealth tax on the top 0.1 percent of American families, months before any other presidential candidate. That means if you’re one of the 175,200 richest families worth more than $32 million, you’ll pay a penny on every dollar you have above that level. 

Tom has closed tax loopholes before, and he’ll do it again as president.

Over the next decade, those pennies could raise $1 trillion.

That’s enough to:

  • Pay off our entire federal deficit
  • Pay off student loan debt nationwide
  • Repair our roads, bridges, and highways (cost: about $836 billion)
  • Upgrade our voting machines for safer, fairer elections (cost: about $130 – $400 million)
  • Mitigate climate change with clean energy investments
“One of the primary roots of wealth inequality: [the idea that] the richest Americans get to live by a different set of rules than everyone else.”
─ Tom Steyer, Op-Ed in USA Today