RG LAUNCHES A NEW TAX JUSTICE PLATFORM: RAISE OUR TAXES!
We want to live in a world where our friends, neighbors, and family members have enough, and hoarding wealth is not an option. We think raising taxes on the rich can get us closer to that dream: A world in which we all have access to healthy food, quality education and healthcare, reliable public transportation, meaningful work, vibrant cultural practices and community centers, and clean air, soil and water. Where we all live in strong communities that are interdependent, creative, and resilient, and we collectively make the decisions that impact our lives.
RG LAUNCHES CAMPAIGN TO TAX WEALTH LIKE WORK BY ELIMINATING THE TAX PREFERENCE FOR CAPITAL GAINS AND DIVIDENDS
The Capital Gains and Dividends Tax is a special, low tax rate for wealthy people that exponentially increases wealth disparity with each new generation. Capital gains are the profit made from selling things like stocks, bonds, mutual funds, and homes. For example, if you buy a stock for $10 and then sell it for $100, your Capital Gain is $90. In 2012, the top 1% took home 71% of all capital gains.The tax on capital gains and dividends is currently capped at just 20% - compared to income from work, which can be taxed up to almost 40%.
RG is launching a campaign this tax day to eliminate the preference for capital gains, which would raise $533 billion in revenue over 10 years. Click here to download the factsheet, learn more, and get involved with the campaign.