Women and families shouldn’t have to struggle to meet caregiving needs while billionaires buy their third yacht and mega corporations see record profits. This Tax Day, while most of us are stressing about filing our tax returns correctly, many billionaires will laugh all the way to the bank as they pay a lower tax rate than their secretaries.
President Joe Biden knows this. Just last month, he stood before Congress and declared: “If you want to make—or can make—a million or millions of bucks, that’s great. Just pay your fair share in taxes.” He proposed a minimum tax of 25% on billionaires, which would raise $500 billion in 10 years, and called for investing that revenue in paid leave, home care, and childcare. It’s no surprise that line prompted thunderous applause.