Why Billionaires Are Paying No Taxes
Wealth inequality has soared to unprecedented levels in the United States, brought on in part by the tax code’s excessively favorable treatment of income from wealth. A striking report from ProPublica released earlier this month exposed that some of the country’s wealthiest billionaires are paying virtually no income tax on their massive accumulation of wealth, while ordinary workers have taxes withheld from every paycheck. President Joe Biden has proposed several critical tax reforms in his American Families Plan, and Congress now has the urgent responsibility of rebalancing the tax system’s treatment of wealth and work, restoring basic fairness, and supporting families.
Please join the Center for American Progress for a conversation featuring Sen. Sherrod Brown (D-OH), a senior member of the tax-writing Senate Finance Committee and chair of the Senate Committee on Banking, Housing, and Urban Affairs, to discuss these critical issues.
Wednesday, June 23, 2021 - 3:00 pm (U.S./Eastern)