Tell Congress to support long-term solutions that put people first
“My name is Dana Beasley Brown and I live in Bowling Green with my husband and two children. I, like many of us, felt the impact of good economic policies such as the Pell Grant Program, without which I would not have been able to afford my bachelors degree.
"I grew up in a low-income household, and also felt very keenly the impacts of bad economic policy and the wealth divide. Today, my family and I are watching the deadline draw near for Congress to agree on a budget to last through the end of the fiscal year in September, and reading about the House Republicans’ budget proposal for next year. We’re concerned about the future of the EPA and our drinking water, of Elmo, Head Start, and opportunities for all children to learn, and of the health of our people and the safety of communities across our nation. We’re also concerned about income inequality in the U.S., where opportunities for all are stifled because the top 10 percent of households own 75 percent of the country's total wealth."
What the Fairness in Taxation Act would do:
Federal income tax rates increase with income, but only up to $373,000. Currently, the top tax bracket begins with incomes of $373,000 or more. So, taxable household income of $400,000 is taxed at the same rate as taxable household income of $400,000,000.
The Fairness in Taxation Act would add new tax brackets for income starting at $1 million and ends with a $1 billion bracket. The new brackets would be:
- $1 - $10 million: 45%
- $10 - $20 million: 46%
- $20 - $100 million: 47%
- $100 million - $1 billion: 48%
- $1 billion and over: 49%
The bill would also tax capital gains and dividend income as ordinary income, but only for households earning more than $1 million.
But it doesn’t have to be this way. Rep. Rogers and the House don’t have to limit the debate to debts and draconian cuts. Congress can choose revenue reform as a long-term solution. I’m writing to ask you to take a stand for solutions by joining me in urging our representatives to support the Fairness in Taxation Act.
The Fairness in Taxation Act is a federal tax bill that is an important step toward rebuilding and stabilizing our economy by generating significant revenue to fund the vital functions of our government. It would start to bring some common sense back to the balance of wealth and opportunity.”
Take Action
If enacted in 2011, the Fairness in Taxation Act would raise more than $78 billion. The handful of households that would be impacted are the same households that have disproportionately benefited from the Bush-era tax cuts that were recently extended. KFTC supports the Fairness in Taxation Act because it’s a common-sense solution to move our nation forward by allowing everyone to contribute according to their means. Click the button below to take action on this issue. (expired)
Status of the Fairness in Taxation Act:
The Fairness in Taxation Act (Bill # H.R.1124) was introduced by Rep. Jan Schakowsky of Illinois on March 16. Since then, it’s been supported by several of our national allies, including Citizens for Tax Justice and United for a Fair Economy, and endorsed by 11 Representatives, including Kentucky’s own Rep. Yarmuth. The bill is now waiting for passage in the House Ways and Means Committee. Rep. Geoff Davis of Kentucky’s 4th Congressional District serves on that committee.
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