tax the top 1%

In the richest country in the world, American income inequality is at an all time high. Today, the top 1% holds roughly one-third of all wealth in the United States, while the bottom 50 percent of Americans hold only 1.1%. In fact this small group of America's earners hold more wealth than the combined bottom 90% of the American population. The distribution of tax burdens in our country does not reflect the distribution of wealth. Americans with less than five-figure incomes pay an effective payroll tax rate of 14.1 percent, while those making seven-figure incomes or more pay just 1.9 percent. The ultra wealthy and mega corporations pay very little of their fair share through all kinds of tax loopholes.

Drew advocates for the passage of the For the 99.5 Percent Act and the implementation of a progressive tax system with higher tax brackets for the ultra wealthy (.05%) and corporations’ massive estates must be taxed at the same rate as other income, and all tax loopholes must be closed. This kind of tax system will balance out the extreme inequity in our economy and give the government the funding it needs to pay for healthcare, education and housing for the American people.