FOR IMMEDIATE RELEASE
September 23, 2021

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As Reports Find the 400 Richest Americans Paid Less in Taxes, Tax March Tells Congress ‘Side With Families’

WASHINGTON, DC — A report from the White House today finds that America’s 400 wealthiest families paid an average tax rate of just 8.2 percent from 2010–2018, despite bringing in $1.8 trillion, primarily through investment income. By contrast, the average American family pays an average tax rate of 14 percent and draws the bulk of its income from work. The report demonstrates the need to tax the rich as a part of the Build Back Better plan and begin balancing the economy in favor of working people.

Tax March Board Member Maura Quint responded to the report:

“Today’s report shows exactly why Congress must side with our families over big corporations and the rich if we want to Build Back Better. Our economy must be reformed to lower costs for everyday Americans, and we should tax the rich to pay for it.

“Over eight years, just 400 families captured nearly $2 trillion from our economy and paid less taxes than the rest of us. Yet, we’re told that we can’t lower costs for millions of working families by making the wealthy pay their fair share of taxes. We are working hard and paying our fair share, while the wealthiest people in America get a free ride.

“Congress has a chance right now to side with our families by taxing the rich and investing in middle and working class people. Families are still feeling the effects of the pandemic, and it’s never been clearer: we need Congress to invest in us. To Build Back Better, we need to tax the rich and lower costs for American families.”