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Gonzalez Introduces Tax the Rich Act


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Characters Referenced: Litzy Gonzalez

From the Office of Democratic Representative Litzy Gonzalez

The Democratic party of the 90's made friends with the rich. The Democratic party of 2008 was eager to bail them out. The Democratic party of 2022 says no more.

With my recently introduced "Tax the Rich Act" those who benefit the most from society will be made to contribute more back to the middle and working class. The bill does two things, create an annual wealth tax on net values for households and trusts in excess of $50 million and increases the estate tax on those earning more than $3.5 million annually. Taxes aren't increasing for more than 99% of Americans. Revenue over the decade from these two mechanisms will generate $3 trillion and $315 billion respectively.

The revenue generated from these taxes on the rich would in turn be rebated back to all American adults earning $100,000 or less annually. That constitutes roughly 174 million Americans. That would equal roughly $2,000 a year annually, a new stimulus check paid for by the ultra-wealthy.

Polling shows that 68% of Americans support increasing taxes on the rich. The Republican party will without a doubt as they always do show themselves to be the party of the wealthy in regards to this bill, but this is about doing what's right and showing that the Democratic party of today is a party of and for the people once and for all.

 


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Democratic Representative Litzy Gonzalez

Texas Congressional District 35

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