August 1, 2021 - Douglas Myser

As senator I will tax my own wealth. Jeff Bezos, the wealthiest man on the planet, has blasted himself into space. This a few days after Richard Branson's own rocket ride. It seems the rich are taking joy rides and it remains to be seen if this is to the benefit of humanity, or if they are trying to secure themselves a place on another planet in case all hell breaks loose here. Yet urget issues remain here on planet earth, as the ranks of the homeless swell, and climate change threatens the very foundations of civilized society. A Tax Resolution Company could be afforded by the middle class if they were earning enough to pay taxes as well. Affordable health care and the survival of working families are also key issues facing our times, especially after the Covid-19 pandemic. As senator I will tax my own wealth.

And those with the staggering wealth to address these problems pay comparative peanuts in federal income taxes. An explosive ProPublica report revealed the 25 wealthiest Americans saw their worth grow by $401 billionin the last decade---while paying a federal tax rate of just 3.4%. Sometimes they paid no federal income tax at all. Middle and working class families did not experience a similar benefit. As state treasurer, working on homeownerhsip, retirement and economic security, I know trickle down economics is a farce. And growing up in Eau Claire, the daughter of public school teachers, working at Pizza Hut and Baker's Square to myself through college, I learned when you see something wrong, you do something about it.

As Wisconsin's next U.S. Senator, I'll fight for a wholesale rewrite of the tax system, starting with an Elizabeth Warren style wealth tax. Space seeking mega billionaires Jeff Bezos can buy a $500 million superyacht while paying a 1.1 effective federal tax rate, so a 2% wealth of $50 million and above seems reasonable. And reversing Donald Trump's and Ron Johnson's tax giveaways to the ultra-wealthy---a modest 2.6% increase for the richest Americans--will generate $110 billion over the next decade.