Washington, D.C. — Wealth inequality in the United States has swelled to historic levels. One reason is the broken tax code, which preferences income from wealth over income from work in several ways. Ultrawealthy taxpayers whose income derives from capital gains pay special low tax rates. To a large extent, they can decide when—and sometimes never—to pay taxes on their gains. However, there is increasing interest in bold reforms to make the tax code fairer for all Americans and enable critical investments.
On Thursday, September 12, the Center for American Progress Action Fund will host Sen. Ron Wyden (D-OR), the ranking member of the Senate Finance Committee, who will outline a new proposal for taxing income from wealth the same way as income from work by equalizing rates and minimizing the benefit of deferring taxes through an anti-deferral accounting system. Sen. Wyden will be followed by a panel of experts to discuss the proposal within the context of extreme income and wealth inequality.
Neera Tanden, President and CEO, Center for American Progress Action Fund
Sen. Ron Wyden (D-OR), Ranking Member, Senate Finance Committee
Lily Batchelder, Frederick I. and Grace Stokes Professor of Law, New York University School of Law
Indivar Dutta-Gupta, Co-Executive Director, Georgetown Center on Poverty and Inequality
David Kamin, Professor of Law, New York University School of Law
Greg Leiserson, Director of Tax Policy and Chief Economist, Washington Center for Equitable Growth
Seth Hanlon, Senior Fellow, Center for American Progress Action Fund
Thursday, September 12, at 10:00 a.m. ET
Center for American Progress Action Fund
1333 H Street, N.W.
Washington, D.C. 20005
For more information, contact Allison Preiss at gro.noitcassergorpnacirema@1ssierpa or 202-478-6331.