Last Updated: July 28, 2026

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The Tax Justice and Economic Fairness Act

It’s time to align tax policy with long-term market stability and fiscal sustainability. This is how we fund everything else.

What it includes:

1. 70% top marginal rate on income above $10 million
   • Applies only to the ultra-wealthy
   • Returns to historical norms (was 70-91% from 1950s-1970s)
   • Revenue: $90-150B annually
2. Tax capital gains as ordinary income
   • Capital income should not be taxed below wage income at comparable levels
   • Currently: billionaires pay 15-20% on investment income, employees pay up to 37% on wages
   • Revenue: $150-250B annually
3. 2% wealth tax on net worth above $50 million
   • Affects roughly 75,000 households (0.05% of Americans)
   • Example: $100M net worth pays $1M annually (2% of $50M above threshold)
   • Includes strong anti-avoidance measures
   • Revenue: $180-300B annually
4. Estate tax reform
   • Lower exemption to $3.5M (still protects middle-class inheritances)
   • Raise top rate to 65%
   • Close dynasty trust loopholes
   • Revenue: $30-70B annually
5. Financial transaction tax (0.1% on stock trades)
   • Reduces high-frequency trading speculation
   • Minimal impact on long-term investors (401(k)s)
   • Common in other countries (UK has had stamp duty for decades)
   • Revenue: $60-100B annually
6. Close corporate loopholes
   • End “carried interest” loophole for hedge funds
   • Crack down on offshore tax havens
   • Fix transfer pricing abuse
   • Revenue: $100-200B annually
7. Remove Social Security income cap
   • Currently, income above ~$168K pays no Social Security tax
   • Apply 12.4% tax to all income
   • Ensures Social Security solvency for 75+ years
   • Revenue: $120B annually (dedicated to Social Security, not general fund)
8. Sovereign Wealth Exit Tax
   • Imposes a 40% exit tax on global assets for billionaires renouncing citizenship to evade taxes.
   • Sanctions foreign tax havens shielding American capital.

What this means for you:

• If you make under $1 million, your taxes don’t go up. Period.
• The tax structure that built the postwar middle class is restored at the top
• Billionaires no longer pay lower rates than their secretaries
• Social Security stays solvent without cutting benefits or raising the retirement age
• The revenue funds the Foundations of this mandate — healthcare, education, infrastructure, accountability — without ballooning the deficit