The right-wing propaganda machine is currently in overdrive, spreading blatant misinformation about the Biden-Harris tax agenda—specifically the Billionaire Minimum Income Tax (BMIT). Their latest scare tactic involves falsely claiming that the BMIT would tax everyone's unrealized capital gains, including the equity in their homes and 401(k) retirement accounts.
This is a complete fabrication, deliberately designed to protect billionaires while misleading hard-working Americans into unknowingly supporting the desires of the ultra-wealthy.
The truth about the BMIT is clear: it would only target households worth over $100 million. This represents less than 0.05% of Americans—specifically, the 11,000 wealthiest individuals in the United States. The BMIT ensures that billionaires pay at least a 25% tax rate on their total income, including unrealized capital gains, while not affecting 99.95% of Americans or their retirement savings.
As part of our commitment to transparency, we are fact-checking the right-wing's falsehoods and delivering the truth about the Biden-Harris tax agenda directly to the American people. Our goal is to combat the misinformation campaign and advocate for a fair tax system where billionaires and ultra-millionaires pay their fair share.
Supporters are encouraged to join this crucial fight by donating $5 or more to help spread the truth and build momentum for the Billionaire Minimum Income Tax. Every contribution strengthens the movement for real, lasting tax reform and ensures that middle-class families are no longer bearing a disproportionate tax burden.
The right-wing is spreading these lies because they are desperate to protect their billionaire donors at the expense of working Americans. We need public support to counteract this misinformation, reach more voters with the truth, and pressure lawmakers to stand up for working families.
Our research shows that as of 2022, billionaires and centi-millionaires held a staggering $8.5 trillion in untaxed, unrealized capital gains. In 2021, the wealthiest 400 American families paid an average federal income tax rate of just 8.2% when including the increased value of their stock holdings—lower than the tax rate paid by many middle-class families.
Ensuring that the wealthiest Americans contribute their fair share will generate billions in revenue for critical investments that benefit all Americans, including funding for education, healthcare, and infrastructure projects that have been chronically underfunded.
However, to fight back against right-wing misinformation, we need public support. The billionaire class has nearly unlimited resources and a vast propaganda machine at its disposal. They are counting on their lies and scare tactics to turn public opinion against common-sense tax reform.
The more people understand what's truly at stake, the stronger this movement will become. To help spread the truth and debunk right-wing lies about the Billionaire Minimum Income Tax, we encourage everyone to make a contribution today.
