The richest in our nation are accruing wealth at alarmingly fast rates and using their wealth to subvert our legal system and, in many cases, democracy itself. Our elected officials need to understand this reality and work to change it.
Congress must do the bare minimum and ensure that people can afford to live by creating a fairer tax code. I wholeheartedly support a cost-of-living tax exemption for taxpayers. In order to fairly implement a cost-of-living tax adjustment, the cost of living must be accurately assessed on an annual basis, and the Bureau of Labor Statistics is key in that adjustment. This means that we must reinvest in the federal agencies Trump has attacked in proposed and actual spending cuts — namely, agencies responsible for data collection, synthesis, and analysis. Maintaining the Consumer Price Index’s integrity will be one of my economic priorities while in Congress, as will advocating against Trump’s deeply harmful federal budget cuts.
I will advocate for further tax code overhaul to ensure high earners and wealth accumulators don’t have enough money to disproportionately influence our democracy and economy. Congress must pass legislation implementing a 2% wealth tax on net worths over $50,000,000. Additionally, Congress should pass legislation to tax all income over $1,000,000 at the same rate, whether that income is earned, unearned, or another form of taxable income. It is incomprehensible that earned income, capital gains, and other forms of income are not already taxed at the same rate, especially for high-earners. The US should also explore amending the tax code to include real income (like price increases of unsold stocks) in order to address the absurdly low effective tax rates on ultrawealthy Americans who avoid income tax by holding investments indefinitely.
But a candidate’s platform isn’t just about what they support; it also has to be about what they oppose. I am unflinching in my opposition to tax cuts for the rich and powerful that enable them to grow both their wealth and influence at an exponential rate, threatening our democracy and economic stability. I have, and will, never accept contributions from billionaires or venture capital firms. I’m incredibly proud that our campaign is powered by tens of thousands of grassroots donors, who contribute an average of just $32.
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