“Tax My Estate”
“Trust fund babies who have done nothing to earn their wealth besides being born into the right family have no right to pay a lower tax rate on their millions than hard working Americans do on the income that they work for.”
Washington, DC – This afternoon, Congressman Jimmy Gomez (CA-34) introduced the For the 99.8% Act, a bill modeled after Senator Bernie Sanders’ legislation that would ensure the 0.2 percent of estates valued over $3.5 million are fairly taxed by an expanded and strengthened estate tax. In response to the bill’s introduction, Charlie Simmons, retired tech executive and Patriotic Millionaire, issued the following statement:
“As a millionaire who will end up paying the estate tax, I say that we should expand it. Tax my estate. Trust fund babies who have done nothing to earn their wealth besides being born into the right family have no right to pay a lower tax rate on their millions than hard working Americans do on the income that they work for.”
For further comments or questions, please contact Fiona McCarthy at fiona@patrioticmillionaires.org.
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About the Patriotic Millionaires
Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at https://patrioticmillionaires.org/about/
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