About
Who We Are
Tax the Greedy Billionaires (TGB) is a coalition of organizations standing together in recognition of the simple fact that the ultra-wealthy make life harder for all of us. Advocates and leaders across all sectors, from economics to democracy to climate and beyond, are telling Congress that there’s only one way to truly take back our democracy: tax the greedy billionaires. Everyday Americans can’t afford to foot the bill for their lavish lifestyles anymore.
What We Want
America’s wealth inequality has reached a dangerous tipping point. The richest Americans have captured our government, rigging the rules in their favor and amassing unprecedented concentrations of wealth and power that exceed even the robber barons of the Gilded Age. As Trump has packed his White House with billionaires and turned them loose to gut government programs and shut down regulatory agencies, Congress has their sights on trillions of dollars in tax cuts that will disproportionately benefit the ultra-wealthy.
The American Dream can’t survive in a system where unlimited wealth for the few destroys opportunity for all. It’s time for Congress to confront this dangerous concentration of wealth head-on. A wealth tax that focuses solely on the top 0.1% of Americans could generate significant revenue without raising taxes for working families.
Our Proposal: The Five & Dime Tax
There are approximately 130,000 American households with wealth exceeding $50 million, and they’re collectively sitting on over $35 trillion. That staggering accumulation of wealth is roughly equal to the entire U.S. national debt and exceeds the country’s 2024 GDP by approximately $6 trillion dollars. This concentration of excessive wealth is at the heart of numerous crises facing our nation today.
Our proposal is simple: impose a 5% tax on households with wealth over $50 million and a 10% tax on households with wealth over $250 million. An analysis by the Tax Policy Center found that the Five & Dime tax would:
- raise $6.8 trillion in the first ten years.
- slow the emergence of new billionaires.
- reduce the total share of wealth controlled by billionaires.
The revenue raised by this tax could be spent on public investments that benefit working families and rebuild the working class, i.e. debt-free college, childcare, affordable housing, and infrastructure. Taxing the ultra-wealthy is the single best way to begin breaking up the dangerous concentrations of economic power threatening our economic growth, democracy, and climate.
Further Reading
Five & Dime Tax Model Analysis – Tax Policy Center
Budgetary and Distributional Analysis of a Progressive AGI Surtax – The Budget Lab at Yale
Follow us
